State Authorities Superannuation Act 1987 Regulation relating to former Government Cleaning Service Employees (1994-117) [GG No 53 of 31.3.1994] (NSW)

1994—No. 117

STATE AUTHORITIES SUPERANNUATION ACT 1987—

REGULATION

(Relating to former Government Cleaning Service Employees)

NEW SOUTH WALES

[Published in Gazette No. 53 of 31 March 1994]

HIS Excellency the Governor, with the advice of the Executive Council, and in pursuance of the State Authorities superannuation Act 1987, has been pleased to make the Regulation set forth hereunder.

KERRY CHIKAROVSKI, M.P.,

Minister for Industrial Relations and Employment.

The State Authorities Superannuation (Government Cleaning Service

Employees Transfer) Regulation 1994 is amended:

(a)	byomitting from clause 2 thedefinitionsof“appropriate superannuation scheme”, “GCS cleaning staff contributor” and “GCS non-cleaning staff contributor”;
(b)	byinsertinginclause2,afterthedefinitionof“SASFund”,the following definition:

“superannuation fund” has the meaning given by section 3 (1) of the Occupational Superannuation Standards Act 1987 of the Commonwealth;

(c) byomitting clause 4 (1)(c)andbyinserting instead thefollowing paragraphs:

(c) before12August1994,thecontributor nominates a superannuation fund to which that benefit may be transferred; and

(d) the Board approves that fund under clause 5,

1994—No. 117

by omitting from clause 4 (1) the words “the appropriate superannuation scheme” and by inserting instead the words “that fund so that that benefit can be applied to the credit of the contributor in that fund”;

by omitting clause 4 (2) and by inserting instead the following
subclause:

(2) The payment must be made as soon as practicable after the contributor has nominated a superannuation fund for the purposes of subclause (1) (c) and the Board has approved the fund under clause 5.

by omitting clause 5 and by inserting instead the following clause:

Approval of superannuation funds by the Board

5. The Board may approve a superannuation fund for the
purposes of clause 4 (1) (d) if, but only if, it is satisfied that:
the rules governing the fund, or the trust deed by which the
fund is established, includes provisions that will fully vest
the preserved benefit to the credit of the GCS contributor

concerned; and

the fund complies with all Commonwealth occupational

superannuation standards that are applicable to

superannuation funds.

EXPLANATORY NOTE

The employment ofcertain contributors to the State Authorities Superannuation Fund has been transferred from the Government Cleaning Service to certain companies operating in the private sector in consequence of a Government initiative. The State Authorities Superannuation (Government Cleaning Service Employees Transfer) Regulation 1994entitles those contributors to have their superannuation benefits in the Fund preserved and to have those benefits transferred to other specified superannuation schemes. As a result of the legislation, it willbepossible to transfer those benefits, instead of to specified superannuation schemes, to any superannuation funds nominated by the contributors concerned, provided the funds are approved by the State Authorities Superannuation Board. The Board will be able to approve such a fundonly if satisfied that the fund complies withrelevant Commonwealth occupational superannuation standards.

This regulation is made under Schedule 5 to the State Authorities

Superannuation Act 1987.