Articles of the Queensland Electricity Supply Industry Employees' Superannuation Scheme Amendment Order (No. 1) 1992 (Qld)

Queensland Subordinate Legislation 1992 No. 131 Electricity Act 1976 ARTICLES OF THE QUEENSLAND ELECTRICITY SUPPLY INDUSTRY EMPLOYEES’ SUPERANNUATION SCHEME AMENDMENT ORDER (No. 1) 1992 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2 Amended Articles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 Omission of s.2 (Parts of the Articles) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Omission of heading preceding section 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 5 Amendment of s.3 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 6 Insertion of new s.3A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3A Material that is not part of the Articles . . . . . . . . . . . . . . . . . . . . . . . 4 7 Amendment of s.4 (Eligibility of employees) . . . . . . . . . . . . . . . . . . . . . . . . 5 8 Amendment of s.11 (Benefits) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 9 Replacement of section 16 (Local Superannuation Committees—Employees’ Representatives) . . . . . . . . . . . . . . . . . . . . . . . . . 8 16 Local superannuation committees—appointment of employees’ representatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 16A Local superannuation committees—removal of employees’ representatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Amendment of s.17 (Reciprocity with other funds) . . . . . . . . . . . . . . . . . . . 10 17AA Transfers from the scheme . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Amendment of s.18 (SEAQ, NEAQ, and REB Funds Trust Deed) . . . . . . . 11

2 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 12 Insertion of new ss.20 to 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 20 Payment of taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 21 Incorporation of standards under OSSA . . . . . . . . . . . . . . . . . . . . . . . 12 22 Interpretation of OSSA—ISC pronouncement . . . . . . . . . . . . . . . . . . 12

3 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 ˙ Short title 1. This order in council may be cited as the Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment Order (No. 1) 1992 . ˙ Amended Articles 2. The Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme are amended as set out in this order in council. ˙ Omission of s.2 (Parts of the Articles) 3. Section 2— omit. ˙ Omission of heading preceding section 3 4. Before section 3— omit ‘ INTERPRETATION ’. ˙ Amendment of s.3 (Definitions) 5.(1) Section 3(1)— omit ‘ unless the contrary intention appears— ’. (2) Section 3(1)(definitions “Act” and “Eligible Employee” )— omit. (3) Section 3(1)— insert— ‘ “apprentice” has the meaning given by section 1.4 of the VocationalEducation, Training and Employment Act 1991 ; “Commissioner of Taxation” means the Commissioner of Taxation appointed under the TaxationAdministrationAct1953 of the

4 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 Commonwealth; “eligible employee” means an employee eligible to contribute to the Scheme under section 4(1), (1AA) or (1AB); “ISC” means the Insurance and Superannuation Commissioner appointed under the Insurance and Superannuation Commissioner Act 1987 of the Commonwealth, or a person appointed to act in the office under that Act; “OSSA” means the Occupational Superannuation Standards Act 1987 of the Commonwealth and each regulation made under that Act; “Rules of the Accumulations Fund” means the rules prescribed under section 381B of the Act; “State Public Sector Superannuation Scheme” means the scheme established by the deed made under the Superannuation (State PublicSector)Act1990 and published in the Gazette on 23 June 1990 at pages 1029 to 1052; “State Service Superannuation Fund” has the meaning given by section 18(1) of the State Service Superannuation Act 1972 ; “Tax Act” means the IncomeTaxAssessmentAct1936 of the Commonwealth; “trainee” has the meaning given by section 1.4 of the VocationalEducation, Training and Employment Act 1991 ; ’. (4) Section 3(2) to (7)— omit. ˙ Insertion of new s.3A 6. After section 3— insert— ˙ ‘Material that is not part of the Articles ‘3A. The heading to a Part, and a note appearing in and at the beginning of a section, subsection or paragraph, are not part of the Articles. ’.

5 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 ˙ Amendment of s.4 (Eligibility of employees) 7. Section 4(1)— omit, insert— ‘(1) Subject to subsection (1AA), an employee is eligible to contribute to the Scheme unless he or she is— (a) a contributor to the State Service Superannuation Fund; or (b) a member of the State Public Sector Superannuation Scheme; or (c) employed only for the duration of a particular project, or for some other limited period; or (d) both— (i) temporarily employed under an agreement between an employer and the person’s usual employer; and (ii) a member of another superannuation or provident fund. ‘(1AA) An employee who is employed under a contract of service for a specified period is not eligible to contribute to the Scheme unless— (a) the Governor in Council appointed the employee under the Act; or (b) the contract of service stated that the employee was eligible. ‘(1AB) An apprentice or trainee is eligible to contribute to the Scheme but is not required to do so. ’. ˙ Amendment of s.11 (Benefits) 8.(1) Section 11(1A)— omit, insert— ‘(1A) Despite any other provision of these Articles, a benefit payable to a member under section 11(2A), (3), (4), (5), (6)(c) or (d), (7) or (8) is to be reduced— (a) by the amount of the member’s portion from the Accumulations Fund; or

6 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 (b) so that the benefit is equal to the amount of the member’s accumulated contributions; whichever is the least reduction. ‘(1B) Despite any other provision of these Articles, if— (a) a member is eligible to receive a benefit under these Articles; and (b) an amount that is all or part of the benefit must be preserved under a provision of OSSA; the amount must be preserved in compliance with the provision. ’. (2) Section 11(2)— omit ‘ In this Article unless the contrary intention appears ’, insert ‘ In this section ’. (3) Section 11(2) (definition “member’s accumulated contributions” )— omit. (4) Section 11(2)— insert— ‘ “member’s accumulated balance” has the meaning given by section 11 of the Rules of the Accumulations Fund; “member’s accumulated contributions” means, except for a member who has made an election under section 17A(1) or (2), an amount equal to the sum of the following amounts— (a) any contributions by the member to the Scheme under section 6 or 9, after the commencement date, with compound interest— (i) to 30 June 1990—at 5% per annum; and (ii) from 1 July 1990—at the prescribed rate; (b) any contributions by the member to the NEAQ Fund or an REB Fund, with compound interest— (i) to the commencement date—at 4% per annum; and (ii) from the commencement date to 30 June 1990—at 5% per

7 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 annum; and (iii) from 1 July 1990—at the prescribed rate; (c) if the member was a member of the SEAQ Fund, the Local Government Superannuation Scheme, the BCC Fund, the BCC Provident Fund or another Provident Fund—the amount (if any) that the Superannuation Board determined on or before the commencement date to be the member’s contributions to those funds, with compound interest— (i) to the commencement date—at 4% per annum; and (ii) from the commencement date to 30 June 1990—at 5% per annum; and (iii) from 1 July 1990—at the prescribed rate; “member’s portion from the accumulations fund” means the amount, calculated on the day a person ceases to be a member, equal to— A - (B + C + D) , where— “A” means the member’s accumulated balance of the person; “B” means any amount transferred to the Accumulations Fund to the credit of the person, plus any interest on the amount since the day of transfer; “C” means any amount paid to the Accumulations Fund to the credit of the person when he or she was not an eligible employee, plus any interest on the amount; “D” , in relation to a person who became a member under section 4(2)(d), means any amount paid to the Accumulations Fund to the credit of the person until 1 July before the day he or she became a member, plus any interest on the amount; “prescribed rate” , for the purposes of the definition “member’s accumulated contributions” , means the rate determined by the Superannuation Board that applies to the relevant amount, after considering the earning rate of the Scheme and the period for which the amount was held in the Scheme; ’.

8 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 (5) Section 11(9)(b)(ii)— omit, insert— ‘ (ii) the benefit to be preserved is the amount of the member’s reserve reduced— (A) by the amount of the member’s portion from the Accumulations Fund; or (B) so that the benefit is equal to the amount of the member’s accumulated contributions; whichever is the least reduction; ’. (6) Section 11(9)(b)(v)(C)— omit, insert— ‘ (C) the former member dies; or (D) the former member satisfies the Superannuation Board that he or she is departing permanently from Australia; ’. ˙ Replacement of section 16 (Local Superannuation Committees—Employees’ Representatives) 9. Section 16— omit, insert— ˙ ‘Local superannuation committees—appointment of employees’ representatives ‘16.(1) This section sets out the manner for appointing a person as employees’ representative to a local superannuation committee for the purpose of section 379 of the Act, and who is eligible to be an employees’ representative. ‘(2) A person is not eligible to be an employees’ representative unless the person— (a) is employed by an employer; and (b) has been employed by the employer for at least 1 year; and

9 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 (b) is a member. ‘(3) A person is appointed as employees’ representative only if elected under the procedure, set out in section 103(3) and (4) of the Electricity Regulation 1989 , for the election of a nominee for appointment under section 356 of the Act as an employees’ representative to the Superannuation Board. ‘(4) An employees’ representative may not be appointed for a term exceeding 5 years. ˙ ‘Local superannuation committees—removal of employees’ representatives ‘16A.(1) A request may be made, in compliance with this section, to remove an employees’ representative from a local superannuation committee. ‘(2) The request must be— (a) made to the Commissioner, the General Manager or the nominee of either of them, whoever is on the committee; and (b) in writing; and (c) signed by at least 10% of all members. ‘(3) Upon receiving a request that complies with this section, the Commissioner, General Manager or nominee must promptly convene and hold a general meeting of members. ‘(4) The meeting mentioned in subsection (3) must be convened and held in the manner, set out in section 103 of the Electricity Regulation 1989 , for the meeting required under subsection (3) of that section. ‘(5) If, at the meeting, the members pass a resolution to remove the employees’ representative from that office, the office immediately becomes vacant. ’.

10 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 ˙ Amendment of s.17 (Reciprocity with other funds) 10.(1) Section 17(1)(a)— renumber as section 17(1). (2) Section 17(1)(b)— renumber as section 17(2). (3) Section 17(1)(c)— renumber as section 17(3). (4) Section 17(3) (as renumbered by this section)— omit ‘ Article 17(1)(b) ’, insert ‘ subsection (2) ’. (5) Section 17(2)(a)— omit, insert— ˙ ‘Transfers from the scheme ‘17AA.(1) If— (a) a person who is a member ceases to be an employee; and (b) within 3 months of the day the person ceases, or within any further period allowed under subsection (2), he or she joins another fund; and (c) the person requests that, instead of paying a benefit to the person, the Superannuation Board pay the amount of the benefit to the fund mentioned in paragraph (b); and (d) the person’s employer (if any) approves; and (e) the fund is required to preserve any benefits in compliance with the standards required by OSSA; and (f) any other laws that relate to the request are complied with; the Superannuation Board must comply with the person’s request. ‘(2) The Superannuation Board may grant to a person an extension of the time period specified in subsection (1)(b) if it considers that it would be reasonable in all the circumstances to do so. ’.

11 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 (6) Section 17(2)(b)— renumber as section 17AA(3). (7) Section 17AA(3)(i) and (ii)(as renumbered by this section)— renumber as section 17AA(3)(a) and (b). (8) Section 17AA(3)(a)(as renumbered by this section)— omit ‘ Article 17(1)(a) ’, insert ‘ section 17(1) ’. (9) Section 17AA(3)(b)(as renumbered by this section)— omit ‘ provision (i) above ’, insert ‘ paragraph (a) ’. ˙ Amendment of s.18 (SEAQ, NEAQ, and REB Funds Trust Deed) 11. Section 18(i)— omit ‘ lodge ’, insert ‘ lodged ’. ˙ Insertion of new ss.20 to 22 12. After section 19— insert— ˙ ‘Payment of taxes ‘20. Despite any other provision of these Articles, the Superannuation Board may deduct from— (a) any contribution to the Scheme; or (b) any income earned by the Scheme; or (c) any capital gain realised in the Scheme; or (d) any payment out of the Scheme; an amount of tax, or any other amount, that the Superannuation Board— (e) is required to deduct under a law of a State, a Territory or the Commonwealth; or (f) would be required to deduct under a provision that it considers

12 Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme Amendment (No. 1) No. 131, 1992 may become a law mentioned in paragraph (e), having regard to any announcement by the Commissioner of Taxation, the ISC or any other Authority concerned with the taxation of public sector superannuation funds. ˙ ‘Incorporation of standards under OSSA ‘21.(1) This section is made for the purpose of section 18 of OccupationalSuperannuationStandardsRegulations of the Commonwealth. ‘(2) Any requirement of a standard prescribed under OSSA that is applicable to the operation of the Scheme is taken to be included as part of these Articles. ‘(3) To the extent that such a requirement and any other provision of these Articles are inconsistent, the requirement prevails. ˙ ‘Interpretation of OSSA—ISC pronouncement ‘22. In determining the requirements of a standard prescribed under OSSA, the Superannuation Board may have regard to any practice of, or pronouncement by, the ISC. ’. ENDNOTES 1. Made by the Governor in Council on 11 June 1992. 2. Published in the Gazette on 12 June 1992. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Queensland Electricity Commission. The State of Queensland 1992