Local Government Superannuation Act Amendment Act of 1967 (Qld)

406 Q uallsf anbc ANNO SEXTO DECIMO ELIZABETHAE SECUNDAE REGINAE No. 45 of 1967 An Act to Amend "The LocalGovernment SuperannuationAct of 1964," in certain particulars [ASSENTED TO 19TH DECEMBER, 1967] BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- 1. (1) Short title. This Act may be cited as " The Local Government Superannuation Act Amendment Act of 1967." (2) Principal Act. " The Local Government Superannuation Act of 1964," is in this Act called the Principal Act.

Local Government Superannuation Act Amendment Act of 1967, No. 45 407 (3) Collective title. The Principal Act and this Act may be collectively cited as " The Local Government Superannuation Acts, 1964 to 1967." 2. Amendment to s. 3 . Section three of the Principal Act is amended by, in the definition " Local Authority ", omitting the numeral and marks " 1963 " " and inserting in their stead the numeral, marks and words " 1967 " and any person or body declared under and for the purposes of this Act to be a Local Authority ". 3. Amendments to s. 4 . Section four of the Principal Act is amended by- (a) adding to the note at the commencement of that section the words " and prescription of Local Authorities "; (b) numbering the existing paragraph as subsection (1); (c) adding the following subsection:- " (2) The Governor in Council may, from time to time by notification published in the Gazette on the recommendation of the Board, declare any person or body empowered under any statute to perform a function which, in the opinion of the Board, is similar to any of the functions which a Local Authority within the meaning of " The Local Government Acts, 1936 to 1967 " is empowered to perform to be a Local Authority for the purposes of this Act whereupon the person or body so declared shall be deemed to have always been theretofore a Local Authority for the purposes of this Act and, for so long as such declaration continues in force, shall be deemed to be thenceforth a Local Authority for the purposes of this Act." 4. Amendments to s. 6. Section six of the Principal Act is amended by- (a) in subsection (1)- (i) omitting the words and brackets " shall and is hereby required to take over (as soon as it deems expedient) all existing superannuation schemes " and inserting in their stead the words " may, if and when it considers it practicable, subject to subsection (2) of this section, take over all or any of the existing superannuation schemes or any part of such a scheme "; (ii) omitting the words " thereupon such existing superannuation schemes " and inserting in their stead the words " upon being so taken over the existing superannuation scheme or, as the case may be, part "; (b) omitting subsection (2) and inserting in its stead the following subsection:- " (2) The Board shall not take over any existing superannuation scheme or part thereof except upon agreement with the trustees of that scheme." (c) in subsection (3)- (i) omitting the words " Without limiting the generality of the provisions of paragraph (b) of subsection (2) of this section, it is hereby declared and directed that the " and inserting in their stead the word The

408 Local Government Superannuation Act Amendment Act of 1967, No. 45 (ii) inserting after the words " existing superannuation scheme " the words " or any part thereof "; (iii) inserting after the words that scheme " the words " or, as the case may be, part ". 5. Repeal of and new s. 8. The Principal Act is amended by repealing section eight and inserting in its stead the following section:- " [8.] Increase of contribution towards life insurance under existing scheme taken over by Board. (1) Where the Board takes over an existing superannuation scheme and immediately prior to the taking over- (a) any permanent employee has his life insured under such scheme; and (b) the annual contributions payable under such scheme toward, the premium payable in respect of the insurance in question by either the Local Authority in respect of the employee or the employee are less than three and one-half per centum of the employee's salary, the employee shall within the prescribed time effect insurance under Part IV for such amount of cover as will be provided, having regard to the then age of the employee, by the payment of a premium of such amount as will, together with the annual contributions payable by the deficient contributor, amount to three and one-half per centum of the employee's salary or, where in relation to a particular employee there are two deficient contributors, to seven per centum of the employee's salary : Provided that where- (i) at the time he is so required to effect insurance the employee had attained the age of fifty-five years in the case of a male or fifty years in the case of a female; or (ii) the employee, being a female (other than a female referred to in paragraph (i) of this proviso) so elects; or (iii) the premium payable in respect of insurance cover prescribed by this subsection to be effected would be at other than the standard rate or such 'cover would be granted only upon conditions which, in the opinion of the Board, would, in he circumstances, impose an undue burden on the employee, the employee shall within the prescribed time and in the prescribed manner make application to the Board to become a contributor to the Fund for such a contribution as calculated on an annual basis will, together with the annual contributions payable by the deficient contributor towards the premium payable in respect of his subsisting insurance amount to three and one-half per centum of the employee's salary or, where in relation to a particular employee there are two deficient contributors, to seven per centum of the employee's salary. (2) Any additional payments by way of premium in respect of insurance or contribution to the Fund required by reason of compliance with subsection (1) of this section shall be payable by the deficient contributor or, where in relation to a particular employee here are two deficient contributors, shall be payable by them in such proportions that the annual contributions of each deficient contributor under the existing superannuation scheme together with the proportion of such additional payments to be paid by him amount to three and one-half per centum of the employee's salary.

Local Government Superannuation Act Amendment Act of 1967, No. 45 409 (3) In this section the expression " deficient contributor " means a Local Authority or a permanent employee who under an existing superannuation scheme makes annual contributions in respect of the employee in question towards the premium payable in respect of insurance on the life of the employee which are less than three and one-half per centum of the employee's salary." 6. Repeal of and new s. 9. The Principal Act is amended by repealing section nine and inserting in its stead the following section:- " [9.] Increase of contribution towards provident benefit under existing scheme taken over by Board . (1) Where the Board takes over an existing superannuation scheme and immediately prior to the taking over- (a) any permanent employee is a contributor to a benefit or provident fund established under such scheme; and (b) the annual contributions payable under such scheme to such fund by either the Local Authority in respect of the employee or the employee are less than three and one-half per centum of the employee's salary, the employee shall within the prescribed time and in the prescribed manner make application to the Board to become a contributor to the Fund for such a contribution as calculated on an annual basis will, together with the annual contributions payable by the deficient contributor under the existing superannuation scheme amount to three and one-half per centum of the employee's salary or, where in relation to a particular employee there are two deficient contributors, to seven per centum of the employee's salary. (2) Any additional payments by way of contribution to the Fund required by reason of compliance with subsection (1) of this section shall be payable by the deficient contributor or, where in relation to a particular employee there are two deficient contributors, shall be payable by them in such proportions that the annual contributions of each deficient contributor under the existing superannuation scheme together with the proportion of such additional payments to be paid by him amount to three and one-half per centum of the employee's salary. (3) In this section the expression " deficient contributor " means a Local Authority or a permanent employee who under an existing superannuation scheme makes in respect of the employee in question annual contributions to a benefit or provident fund established under such scheme which are less than three and one-half per centum of the employee's salary." 7. New s. 9A. The Principal Act is amended by inserting after section nine the following section:- " [9A.] When employee contributing under existing superannuation scheme to contribute to Provident Fund under Part V. (1) Any permanent employee who, at the first day of July one thousand nine hundred and sixty-eight,- (a) has his life insured under an existing superannuation scheme and the annual contributions payable under such scheme towards the premium payable in respect of the insurance in question by either the Local Authority in respect of the employee or the employee are less than three and one-half per centum of the employee's salary; or

410 Local Government Superannuation Act Amendment Act of 1967, No. 45 (b) is a contributor to a benefit or provident fund established under an existing superannuation scheme and the annual contributions payable under such scheme to such fund by either the Local Authority in respect of the employee or the employee are less than three and one-half per centum of the employee's salary, shall, within the prescribed time and in the prescribed manner, make application to the Board to become a contributor to the Fund for such a contribution as, calculated on an annual basis, will, together with annual contributions payable by the deficient contributor under the existing superannuation scheme amount to three and one-half per centum of the employee's salary or, where in relation to a particular employee there are two deficient contributors, to seven per centum of the employee's salary. (2) Any additional payments by way of contribution to the Fund required by reason of compliance with subsection (1) of this section shall be payable by the deficient contributor or, where in relation to a particular employee there are two deficient contributors, shall be payable by them in such proportions that the annual contributions of each deficient contributor under the existing superannuation scheme together with the proportion of such additional payments to be paid by him amount to three and one-half per centum of the employee's salary. (3) In this section the expression " deficient contributor "- (a) in respect of an existing superannuation scheme referred to in paragraph (a) of subsection (1) of this section, has the meaning assigned to that expression by subsection (3) of section eight of this Act; (b) in respect of an existing superannuation scheme referred to in paragraph (b) of subsection (1) of this section, has the meaning assigned to that expression by subsection (3) of section nine of this Act." 8. Amendments to s. 19 . Section nineteen of the Principal Act is amended by- (a) in subsection (1), inserting in the first proviso after the words " provisions of Part II " the words " and of subsection (2) of this section "; (b) inserting after subsection (1) the following subsection:- " (2) This Part shall apply to every permanent employee who is required by Part II to effect insurance under this Part and in respect of the insurance effected or so required to be effected by such an employee and for the purpose of the application of this Part such insurance, when effected, shall be deemed to have been effected in accordance with the provisions of this Part: Provided that such an employee shall not be required by any provision of this Part to effect insurance whereby the premiums payable in respect thereof by himself or by the Local Authority by which he is, for the time being, employed will exceed the limits thereof prescribed by Part II."; (c) re-numbering subsection (2) as subsection (3).

Local Government Superannuation Act Amendment Act of 1967, No. 45 411 9. Amendment to s. 23. Section twenty-three of the Principal Act is amended by, in subsection (1), omitting the words " before the commencement of this Part, had his life insured " and inserting in their stead the words " when he first becomes liable to effect insurance under this Part, has his life insured under a policy or policies of insurance which has or have been in force for two years at the least ". 10. Amendment to s. 29. Section twenty-nine of the Principal Act is amended by, in subsection (1), omitting the words " for the amount of one-half thereof" and inserting in their stead the following words:- " as follows:- (a) in respect of any such premium which has been paid in respect of insurance required by Part II to be effected by the employee, for such proportion thereof as is prescribed by that Part to be payable by the employee; (b) in respect of any such premium other than premium referred to in subparagraph (a) of this subsection, for one-half thereof or, in the case of an existing superannuation scheme taken over by the Board, for such proportion thereof as he is required by that scheme to pay as premium payable in respect of his insurance under that scheme." 11. Amendment to s. 33. Section thirty-three of the Principal Act is amended by, in subsection (1), omitting the words " where any permanent employee to whom Part V applies, had, at the commencement of this Part, his life insured, such permanent employee " and inserting in their stead the words " any permanent employee to whom Part V applies who, when he first becomes liable to contribute to the Fund under this Act, has his life insured under .a policy or policies of insurance which has or have been in force for two years at the least ". 12. Amendments to s. 37. Section thirty-seven of the Principal Act is amended by- (a) in subsection (1), (i) inserting in subparagraph (b) after the words " provisions of " the words " Part II or of "; (ii) inserting in the first proviso after the words " provisions of Part II " the words " and of subsection (2) of this section "; (b) inserting after subsection (1) the following subsection:- " (2) This Part shall apply to every permanent employee who is required by Part II to contribute to the Fund and in respect of the contributions so required: Provided that such an employee or the Local Authority by which he is for the time being employed shall not be required by any provision of this Part to make contributions to the Fund in excess of the limits thereof prescribed by Part ll."; (c) renumbering subsections (2), (3) and (4) as subsections (3), (4) and (5) respectively. 13. Amendments to s. 39. Section thirty-nine of the Principal Act is amended by- (a) in subsection (1), (i) inserting after the word " contributions " the words " paid to it under this Act "; (ii) omitting the words " Interest derived from the " and inserting in their stead the words " Earnings from any ";

412 Local Government Superannuation Act Amendment Act of 1967, No. 45 (b) in subsection (3), (i) inserting after the words " at the end of that year ", where they first occur, the brackets and words "(whose lives are not insured under policies of insurance effected or deemed to be effected under Part IV)"; (ii) inserting after the word " effected " the words " or deemed to be effected ". 14. Amendment to s. 40 . Section forty of the Principal Act is amended by, in subsection (3), omitting the words " any interest so earned " and inserting in their stead the words " earnings from any such investment ". 15. Repeal of and new s. 41. The Principal Act is amended by repealing section forty-one and inserting in its stead the following section:- " [41.] Investment of the Local Government ( Employees ) Provident Fund . The Board may invest the Fund in one or more of the investments authorized by or under section four of " The Trustees and Executors Acts, 1897 to 1964 " in respect of trust funds or in any investment approved in respect of the Fund by the Governor in Council by Order in Council published in the Gazette." 16. Amendment to s. 42 . Section forty-two of the Principal Act is amended by omitting subsection (1) and inserting in its stead the following subsection:- " (1) Moneys in the Fund and, for the time being, not invested may be invested on fixed deposit with any bank or may be lodged with any bank at call." 17. Amendment to s. 44 . Section forty-four of the Principal Act is amended by, in subsection (1), omitting the words " for the amount of one-half thereof" and inserting in their stead the following words:- as follows:- (a) in respect of any such contribution required by Part II to be made, for such proportion thereof as is prescribed by that Part to be payable by the employee; (b) in respect of any such contribution other than contribution referred to in subparagraph (a) of this subsection, for one-half thereof or, in the case of an existing superannuation scheme taken over by the Board, for such proportion thereof as he is required by that scheme to pay to a benefit or provident fund under that scheme." 18. Amendments to s. 49 . Section forty-nine of the Principal Act is amended by- (a) omitting the words " received in respect of contributions under this Part " and inserting in their stead the words " payable under this Act in respect of contributions to the Fund on behalf of a permanent employee "; (b) omitting the words " each permanent employee " and inserting in their stead the words " such permanent employee ". 19. Amendment to s. 52 . Section fifty-two of the Principal Act is amended by adding the following subsection:- " (6) The earnings of the Board other than those required by this Act to be otherwise disposed of shall be paid into and form part of the Local Government (Superannuation) Management Fund."

Local Government Superannuation Act Amendment Act of 1967, No. 45 413 20. New s. 70A. The Principal Act is amended by inserting after section seventy the following section:- " [70A.] Board may keep consolidated bank account. (1) Notwithstanding any provision of this Act which requires that the Board keep a separate bank account for any fund or account established by it under this Act, the Board may keep a consolidated bank account for all such funds and accounts but, in that event, the Board shall so keep, in its own books, a separate account for each fund or account established by it under this Act that the day to day operations upon and the balance of each such fund or account shall be readily ascertainable at any time and from time to time. Cheques drawn on the consolidated bank account shall be signed as prescribed. (2) For so long as the Board keeps a consolidated bank account- (a) it shall be sufficient compliance with any provision of this Act which requires that moneys be paid into a particular fund or account if moneys which, but for this section, would be required to be paid into a particular fund or account are paid into the consolidated bank account and are recorded by the Board as credited to the account kept by it in its own books for that fund or, as the case may be, account; (b) the Board shall, at the end of each year, appropriate the amount of bank interest credited to such consolidated account for that year to such fund or account or among such funds or accounts established by the Board under this Act as it thinks proper having regard to the desirability of an equitable distribution of such interest among such funds and accounts. (3) The provisions of subparagraph (b) of subsection (2) of this section or an appropriation of bank interest pursuant thereto shall not prejudice the provisions of section thirty-nine, forty, fifty-two or fifty-five of this Act with respect to the appropriation of earnings from any investment of moneys credited to a fund or account established by the Board." 21. Amendments in relation to decimal currency . The Principal Act is amended as set out in the Schedule to this Act. SCHEDULE AMENDMENTS IN RELATION TO DECIMAL CURRENCY Provisions amended Omit Insert [s. 21] Section 7 Section 20 (2) Section 21 (1) Section 21 (2) " pounds " wherever it occurs " pounds " (a) " fifty pounds " (b) " pounds " (a) " fifty pounds " (b) "pounds" (a) one hundred dollars " (a) " one hundred dollars "

414 Local Government Superannuation Act Amendment Act of 1967, No. 45 SCHEDULE-continued AMENDMENTS IN RELATION TO DECIMAL CURRENCY-Continued Provisions amended Omit Insert Section 24 Section 25 Section 34 Section 35 Section 45 Section 46 (1) Section 46 (2) Section 57 (2) Section 77 (1) (h) "pounds" wherever it occurs " pounds" wherever it occurs "pounds" wherever it occurs "pounds" wherever it occurs " pounds " (a) " fifty pounds " (b) " pounds " (a) " fifty pounds " (b) " pounds " " ten shillings " " fifty pounds " (a) " one hundred dollars " (a) " one hundred dollars " " one dollar " " one hundred dollars "