Commonwealth Numbered Regulations - Explanatory Statements

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SUPERANNUATION (CSS) APPROVED AUTHORITY DECLARATION NO. 5 1991 NO. 304

EXPLANATORY STATEMENT

STATUTORY RULES 1991 No. 304

ISSUED BY THE AUTHORITY OF THE MINISTER FOR FINANCE

SUPERANNUATION ACT 1976

DECLARATION UNDER PARAGRAPH (a) OF THE DEFINITION OF "APPROVED AUTHORITY" IN SUBSECTION 3(1)

The Superannuation Act 1976 (the 1976 Act) makes provision for and in relation to an occupational superannuation scheme (the CSS) for certain Commonwealth employees and other persons.

The Superannuation Act 1990 provides for a new superannuation scheme (the PSS scheme) for Commonwealth employees which came into operation on 1 July 1990. Members of the CSS have been given the option of remaining members of the CSS or of transferring to the PSS scheme.

Persons eligible to contribute under the 1976 Act include certain persons employed by an approved authority. In accordance with paragraph (a) of the definition of "approved authority" in subsection 3(1) of that Act, an approved authority includes an authority or other body declared by the Minister for Finance to be an approved authority for the purposes of the Act, being an authority or body of a kind described in the definition.

Section 4A of the 1976 Act provides that such a declaration by the Minister for Finance is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 and a Statutory Rule for the purposes of the Statutory Rules Publication Act 1903 and may be expressed to have taken effect from and including a day not earlier than 12 months before the making of the declaration.

The Land and Water Resources Research and Development Corporation was established under the Primate Industries and Energy Research and Development Act 1989 as a body corporate with power to engage employees necessary for the performance of its functions. The Corporation was established in July 1990 and commenced engaging employees on 6 May 1991.

The Cotton Research and Development Corporation was also established under the Primary Industries and Energy Research and Development Act 1989 as a body corporate with power to engage employees necessary for the performance of its functions. The Corporation was established in October 1990 and commenced engaging employees on 24 April 1991.

The Land and Water Resources Research and Development Corporation and the Cotton Research and Development Corporation are bodies of a kind described in the definition of approved authority in subsection 3(1) of the 1976 Act. It is appropriate that the two bodies be declared to be approved authorities for the purposes of that Act to enable their staff to remain or become members of the CSS.

The Declaration contained in the Statutory Rule, and cited as Superannuation (CSS) Approved Authority Declaration No. 5, declares the Land and Water Resources Research and Development Corporation and the Cotton Research and Development Corporation to be approved authorities for the purposes of the 1976 Act. The Declaration provides that the Land and Water Resources Research and Development Corporation is taken to be an approved authority with effect from 6 May 1991, while the Cotton Research and Development Corporation is an approved authority from the date of gazettal of the Declaration.


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