Commonwealth Numbered Regulations - Explanatory Statements

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SUPERANNUATION (PSS) APPROVED AUTHORITY INCLUSION DECLARATION NO. 8 1992 NO.184

STATUTORY RULES 1992 No. 184

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 1990 (the 1990 Act) provides for the new superannuation scheme (the PSS scheme) for Commonwealth employees and certain other persons to operate from 1 July 1990. Members of the Commonwealth superannuation scheme which was established under the Superannuation Act 1976 (the CSS) had the option of remaining members of that scheme or of transferring to the PSS scheme.

Persons eligible to contribute under the 1990 Act include certain persons 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 body that is declared, in writing, 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 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.

The Construction Industry Development Agency was established by the Construction Industry Reform and Development Act 1992 on 1 July 1992 as a body corporate with power to engage employees necessary for the performance of its functions.

The Construction Industry Development Agency 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 Agency be declared to be an approved authority for the purposes of the Act to enable its staff 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. 8, declares the Construction Industry Development Agency to be an approved authority for the purposes of the 1990 Act with effect from the date of gazettal.