Commonwealth Numbered Regulations - Explanatory Statements

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SUPERANNUATION (PSS) APPROVED AUTHORITY INCLUSION DECLARATION NO. 3 1991 NO. 303

STATUTORY RULES 1991 No. 303

ISSUED BY THE AUTHORITY OF THE MINISTER FOR FINANCE

SUPERANNUATION ACT 1990

DECLARATION UNDER PARAGRAPH (b) OF THE DEFINITION OF "APPROVED AUTHORITY" IN SECTION 3

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

The Superannuation Act 1990 (the 1990 Act) provides for a new superannuation scheme (the PSS scheme) for Commonwealth employees and certain other persons to operate from 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. The PSS scheme is the principal superannuation scheme for new Commonwealth employees.

Persons eligible to become members of the PSS scheme include persons employed by an authority or body which is an approved authority for the purposes of the 1990 Act. In accordance with section 3 of that Act, an approved authority includes an authority or 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 paragraph (b) of the definition.

In accordance with section 45 of the 1990 Act, a declaration for the purposes of paragraph (b) of the "approved authority" definition is to be 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. It is 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.

Both Corporations are bodies of a kind described in the definition of approved authority in section 3 of the 1990 Act. It is appropriate that the Corporations be declared to be approved authorities for the purposes of that Act to enable employees to remain or become members of the scheme established under the Act.

The Declaration contained in the Statutory Rule, and cited as Superannuation (PSS) Approved Authority Inclusion Declaration No 3, 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 1990 Act.

The Declaration is taken to have had effect from and including 24 April 1991 in respect of the Cotton Research and Development Corporation, and 6 May 1991 in respect of the Land and Water Resources Research and Development Corporation.