Commonwealth Numbered Regulations - Explanatory Statements

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SUPERANNUATION (CSS) APPROVED AUTHORITY DECLARATION NO. 9 1992 NO. 105

EXPLANATORY STATEMENT

STATUTORY RULES 1992 No. 105

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 occupational superannuation scheme (the PSS) for Commonwealth employees which came into operation on 1 July 1990. Members of the CSS had the option, to be exercised between 1 July 1990 and 30 June 1991, of remaining members of t hat scheme or of transferring to the PSS.

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 the 1976 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 that Act, being an authority or body of a kind described in the definition.

Section 4A of the 1976 Act provides that such a declaration 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.

The Dairy Research and Development Corporation was established on 1 April 1990 under the Primary Industries and Energy Research and Development Act 1989 as a body corporate with power to engage its own employees. Legislation was put in place in 1991 which had the effect of permitting persons who were contributors to the CSS immediately before becoming employees of the Corporation to continue to be such contributors while being employees of the Corporation.

The Dairy Research and Development Corporation is a body of a kind described in the definition of approved authority in subsection 3(1) of the 1976 Act. It is appropriate that the Corporation be declared to be an approved authority for the purposes of that Act to permit employees who are not existing contributors to the CSS immediately before becoming employed by the Corporation but who have had a prior connection with the CSS to become such contributors again.

The Declaration contained in the Statutory Rule, and cited as Superannuation (CSS) Approved Authority Declaration No. 9, declares the Dairy Research and Development Corporation to be an approved authority for the purposes of the 1976 Act with effect from the date of gazettal of the Declaration.


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