Superannuation (Continuing Contributions for Benefits) Regulations (Amendment) (Cth)

Statutory Rules 1995

No. 201 1

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Superannuation (Continuing Contributions for Benefits) Regulations 2(Amendment)

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Superannuation Act 1976.

Dated 30 June 1995.

 BILL HAYDEN

 Governor-General

By His Excellency’s Command,

KIM C. BEAZLEY

Minister for Finance

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1.   Commencement

1.1   These Regulations commence on 1 July 1995.

2.   Amendment

2.1   The Superannuation (Continuing Contributions for Benefits) Regulations are amended as set out in these Regulations.

3.   Regulation 1 (Citation)

3.1   Omit the regulation, substitute:

Citation

“1.

These Regulations may be cited as the Superannuation (CSS) Continuing Contributions for Benefits Regulations.”.

4.   Regulation 2 (Interpretation)

4.1   Subregulation 2 (1) (definition of “superannuation scheme”):

Omit the definition, substitute:

“‘superannuation scheme’ means a superannuation or retirement benefits scheme applying to persons by reason of their being engaged in certain employment but, subject to subregulation (5), does not include:

• (a)

  a scheme to the extent that membership of that scheme by the person is for the preservation or payment of productivity related benefits as defined in section 110A of the Act; or

• (b)

  the Public Sector Superannuation Scheme to the extent that membership of that scheme by the person relates to other employment; or

• (c)

  a scheme to the extent that participation in that scheme on the person’s behalf by the person’s employer is for purposes solely related to satisfying the employer’s obligations under the Superannuation Guarantee(Administration)Act 1992;”. 

4.2   Subparagraph 2 (2) (b) (ii):

Omit the subparagraph, substitute:

• “(ii)

  any of the following circumstances:

  • (A)

    contributions are made to the scheme in relation to performance pay;

  • (B)

    the person is a member of the scheme for the purpose of the preservation or payment of productivity related benefits as defined in section 110A of the Act;

  • (C)

    participation in the scheme on the person’s behalf by the person’s employer is for purposes solely related to satisfying the employer’s obligations under the Superannuation Guarantee(Administration)Act 1992;

 but no other circumstance (except that mentioned in subparagraph (i)).”.  

4.3   Subregulation 2 (5)

Omit all the words before paragraph (a), substitute:

“(5)

Paragraphs (a) and (c) of the definition of ‘superannuation scheme’ do not apply in relation to:”.

5.   Regulation 4 (When s. 14A no longer applies)

5.1   Add at the end:

“(12)

If:

• (a)

  a person is a person to whom section 14A of the Act applies; and

• (b)

  under the SIS Act, any of the person’s benefits provided for in the Act become compulsorily payable to the person;

section 14A of the Act ceases to apply to the person at the end of the day immediately before the day on which the benefits become so payable.”.

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NOTES

1. Notified in the Commonwealth of Australia Gazette on 30 June 1995.

2. Statutory Rules 1981 No. 36 as amended by 1987 No. 290; 1989 No. 168; 1990 Nos. 179 and 379; 1991 Nos. 97, 168, 446 (as amended by 1992 No. 213) and 465; 1992 Nos. 27, 213, 323, 428 and 460 (as amended by 1994 No. 271); 1993 Nos. 3, 50 and 348; 1994 Nos. 8, 115, 116, 248, 271 and 335; 1995 No. 97.