Fire Brigades Superannuation Amendment Act 1992 (WA)

WESTERN AUSTRALIA

FIRE BRIGADES

SUPERANNUATION AMENDMENT

ACT 1992

No. 19 of 1992

AN ACT to amend the Fire Brigades Superannuation Act

1985.

[Assented to 16 June 1992.]

The Parliament of Western Australia enacts as follows:

Short title

1. This Act may be cited as the Fire Brigades Superannuation

Amendment Act 1992.

Commencement

2. This Act comes into operation on the day on which it

receives the Royal Assent.

No. 19] Fire Brigades Superannuation

Amendment Act 1992

Principal Act

3. In this Act the Fire Brigades Superannuation Act 1985* is

referred to as the principal Act.

[* Act No. 87 of 1985.

For subsequent amendments see 1990 Index to

Legislation of Western Australia, p. 58.]

Section 3 amended

4.     Section 3 (1) of the principal Act is amended by inserting

after the definition of "beneficiary" the following definitions —

1g

"Commissioner" has the same meaning as in the

Commonwealth Act;

"Commonwealth Act" means the Occupational Superannuation Standards Act 1987 of the Commonwealth;

"Commonwealth standards" means any standards prescribed by regulation under the Commonwealth Act;

Section 6 amended

5.     Section 6 of the principal Act is amended —

(a) in subsection (3) (0, by inserting before "raise or borrow" the following —

Ii )1';

subject to subsection (4),

(b)	in subsection (3) (g) by inserting before "incur liabilities" the following —
.“ subject to subsection (4), "; and

Fire Brigades Superannuation [No. 19

Amendment Act 1992

(c) by inserting after subsection (3) the following

subsection —

CC (4) The Superannuation Board may

raise or borrow money under subsection (1) for the purpose of overcoming any cash flow problem in the payment of benefits under this Act, but for no other purpose.

Section 6A inserted

6. After section 6 of the principal Act the following section is

inserted —

Compliance with Commonwealth standards

C'

6A. (1) The Superannuation Board —

(a)	shall ensure that the Superannuation Fund complies with the Commonwealth standards so far as they apply to that Fund;
(b)	shall comply with any requirement made in relation to the Superannuation Fund by the Commissioner under the Commonwealth Act;
(c)	shall not, in relation to the administration, management or investment of the Superannuation Fund, do anything that is contrary to, or inconsistent with, the Commonwealth standards so far as they apply to the Superannuation Fund.

(2) This section has effect notwithstanding any

other provision of this Act.

No. 19] Fire Brigades Superannuation

Amendment Act 1992

Section 7 amended

7. Section 7 of the principal Act is amended by inserting after

subsection (3) the following subsection —

(4) Notwithstanding anything in this section, the Superannuation Board shall not lend any money from the Superannuation Fund to a member of that Fund, either directly or by means of an arrangement for lending money to a member of that Fund in the exercise of a power of investment under this section.

Section 17 amended

8. Section 17 of the principal Act is amended —

(a) in subsection (2) by inserting after "subsection (1)" the following —

ti

, and shall do so in time to enable the

actuary to comply with subsection (3a)

and

(b) by inserting after subsection (3) the following subsection —

If

(3a) The report shall be made within

the period of 12 months after the date as at

which the review was made or within such

)2

other period as is prescribed.

Section 26 amended

9. Section 26 of the principal Act is amended by deleting "and

(3), 7" and substituting the following —

, (3) and (4), 6A