Commonwealth Numbered Regulations - Explanatory Statements

[Index] [Search] [Download] [Related Items] [Help]


SUPERANNUATION (PSS) APPROVED AUTHORITY INCLUSION DECLARATION (AMENDMENT)1996 NO. 94

EXPLANATORY STATEMENT

STATUTORY RULES 1996 No. 94

Issued by the Authority of the Minister for Finance

Superannuation Act 1990

Declaration under paragraph (a) of the definition of "Approved Authority" in section 3

The Superannuation Act 1990 (the 1990 Act) makes provision for and in relation to an occupational superannuation scheme, known as the Public Sector Superannuation Scheme (the PSS), for Commonwealth employees and certain other persons.

Persons eligible to contribute under the 1990 Act include persons who are employed under the Public Service Act 1922, as well as persons who are employed by an "approved authority". In accordance with paragraph (b) of the definition of "approved authority" in section 3 of the 1990 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 1990 Act, being an authority or body of a kind described in the definition. Declarations made under paragraph (b) of the definition of approved authority are contained in the Superannuation (PSS) Approved Authority Inclusion Declaration (the Principal Declaration).

Section 45 of the 1990 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 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 Sydney Symphony Orchestra Holdings Pty Limited (the SSO) is a body approved by the Minister for Communications and the Arts under subsection 25A(3) of the Australian Broadcasting Corporation Act 1983 to carry on a business for the purposes of providing a full-time orchestra for Sydney.

The SSO is a body of a kind described in the definition of approved authority in section 3 of the 1990 Act. It is appropriate that the SSO be declared to be an approved authority for the purposes of the 1990 Act to enable employees to remain or become members of the PSS scheme.

The declaration contained in the Statutory Rule, and cited as "Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment)" amends the Principal Declaration by inserting the Sydney Symphony Orchestra Holdings Pty Limited in the list of bodies declared to be approved authorities for the purposes of the 1990 Act.

The Declaration commenced on 1 March 1996.


[Index] [Related Items] [Search] [Download] [Help]