Southern State Superannuation Variation Regulations 2003 (SA)

South Australia

Southern State Superannuation Variation Regulations 2003

under the Southern State Superannuation Act 1994

Contents

Part 1—Preliminary

1. Short title

2. Commencement

3. Variation provisions

Part 2—Variation of Southern State Superannuation Regulations 1995

1. Insertion of regulation 14

   14Non-member spouse entitlement

Part 1—Preliminary

1—Short title

These regulations may be cited as the Southern State Superannuation Variation Regulations 2003.

2—Commencement

These regulations will come into operation on 18 December 2003.

3—Variation provisions

In these regulations, a provision under a heading referring to the variation of specified regulations varies the regulations so specified.

Part 2—Variation of Southern State Superannuation Regulations 1995

4—Insertion of regulation 14

After regulation 13 insert:

14—Non-member spouse entitlement

(1)For the purposes of section 35D(4) of the Act, notice given by the Board to a non-member spouse of the non-member spouse's right to make an election in respect of his or her interest must—

(a)be in writing; and

(b)notify the non-member spouse that the interest may be retained in the Triple S Scheme; and

(c)advise the non-member spouse of—

(i)his or her option to make an election and the consequences of a failure to do so within 28 days; and

(ii)the value of the interest; and

(iii)the basis of any adjustments that have been, or will be, applied to the interest.

(2)If the interest of a non-member spouse is transferred to the credit of the non-member spouse in the Triple S scheme because an election has not been made, the Board must, within 14 days of the interest being rolled over—

(a)advise the non-member spouse that his or her interest has been retained in the Triple S scheme; and

(b)provide the non-member spouse with a membership identification number, a copy of the most recent annual report prepared in respect of the Triple S scheme and any other information that, according to a determination of the Board, may be of assistance to the non-member spouse.

Note—

As required by section 10AA(2) of the Subordinate Legislation Act 1978, the Minister has certified that, in the Minister's opinion, it is necessary or appropriate that these regulations come into operation as set out in these regulations.

Made by the Governor

with the advice and consent of the Executive Council

on 18 December 2003

No 259 of 2003

AGO 0304/03 CS