Superannuation Administration Amendment (Trust Deed Schemes) Act 2006 (NSW)

An Act to amend the Superannuation Administration Act 1996 with respect to trust deed schemes.

1Name of Act

This Act is the Superannuation Administration Amendment (Trust Deed Schemes) Act 2006.

2Commencement

This Act commences on the date of assent.

3Amendment of Superannuation Administration Act 1996 No 39

The Superannuation Administration Act 1996 is amended as set out in Schedule 1.

4Repeal of Act(1)

This Act is repealed on the day following the day on which this Act commences.

(2)

The repeal of this Act does not, because of the operation of section 30 of the Interpretation Act 1987, affect any amendment made by this Act.

Schedule 1Amendments

(Section 3)

[1]Long title

Insert “and associated persons” after “employees”.

[2]Section 3 Objects of Act

Insert “and associated persons” after “employees” in section 3 (e).

[3]Section 127 Additional State public sector superannuation schemes

Insert after section 127 (1) (d):

(e)

local government councillors or a class or classes of local government councillors,

(f)

spouses or de facto partners of persons referred to in paragraphs (a)–(e), or a class or classes of such spouses or de facto partners.

[4]Section 127 (1A) and (2)

Omit “employees” wherever occurring. Insert instead “persons”.

[5]Section 127 (8)

Insert after section 127 (7):

(8)

In this section:

de facto partner of a person means a person who is in a de facto relationship within the meaning of the Property (Relationships) Act 1984 with the other person.

local government councillor means a councillor within the meaning of the Local Government Act 1993.

[6]Section 128B, heading

Omit “employees”.

Insert instead “persons”.

[7]Schedule 3 Savings and transitional provisions

Insert at the end of clause 1 (1):

Superannuation Administration Amendment (Trust Deed Schemes) Act 2006

[8]Schedule 3, Part 4

Insert after Part 3:

Part 4Provisions consequent on the enactment of the Superannuation Administration Amendment (Trust Deed Schemes) Act 200629Validations(1)

Any approval given or purported to be given by the Minister under section 127 (1A) of this Act as in force before the commencement of the 2006 amending Act that would have been validly given under that subsection, had the amendments made by the 2006 amending Act been in force when it was given, is validated and is taken to have always been validly given.

(2)

Accordingly, any trust deed the extension of the application of which was approved as referred to in subclause (1) and which would have been validly extended, had the amendments made by the 2006 amending Act been in force when the trust deed was extended, is taken to have always been validly extended.

(3)

In this clause:

the 2006 amending Act means the Superannuation Administration Amendment (Trust Deed Schemes) Act 2006.