Statutory
Rules 1997No.327 1
__________________
Superannuation (CSS) Former Eligible
Employees Regulations2
(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
26 November 1997.
WILLIAM
DEANE
Governor-General
By His Excellency’s Command,
JOHN FAHEY
Minister for Finance and Administration
____________
1. Commencement
1.1 These
Regulations commence on 1 January 1998.
2. Amendment
2.1 The
Superannuation (CSS) Former Eligible Employees Regulations are amended as set
out in these Regulations.
3. Schedule 11 (Modifications—employees affected
by privatisation, etc. (delayed updated pension))
3.1 Item 1 (inserted subsection 144H (1)):
Omit the subsection, substitute:
“(1) For paragraphs 144B (1) (b) and
144C (1) (b), subparagraph 144D (1) (c) (ii) and
paragraphs 144F (2) (b) and 144G (c), the final annual rate of
salary of a former eligible employee on ceasing to be an eligible employee is
taken to be:
where:
‘CPI1’ is the CPI published for the last
complete quarter that ends on or before the day when the person ceased to be an
eligible employee;
‘CPI2’ is the highest CPI in the
published series that starts with CPI1 and ends with the last
published CPI on or before the day when the person ceases employment;
‘S’ is the actual final annual rate of salary of the
former eligible employee.”.
4. Schedule 11A (Modifications—former employees of
nominated facilities retrenched within 3 years of transfer day)
4.1 Item 4 (inserted subsection 61AA (1)):
Omit the subsection, substitute:
“(1) For subsections 56 (4) and 61 (4),
the final annual rate of salary of a subregulation 15A (5) person is taken
to be:
where:
‘CPI1’ is the CPI published for the last
complete quarter that ends on or before the day when the person ceased to be an
eligible employee;
‘CPI2’ is the highest CPI in the
published series that starts with CPI1 and ends with the last
published CPI on or before the day when the person ceases employment;
‘S’ is the actual final annual rate of salary of the
person as an eligible employee.”.
NOTES
1. Notified in the Commonwealth
of Australia Gazette on 3 December 1997.
2. Statutory Rules 1986
No. 266 as amended by 1987 No. 307; 1989 Nos. 16 and 306; 1990 Nos. 141, 177
and 451; 1991 Nos. 161 and 445 (as amended by 1992 No. 212); 1992 Nos. 94, 170,
212 and 271; 1993 No. 262; 1994 Nos. 19, 247, 346, 359 and 447; 1995 Nos. 93
and 236; 1996 Nos. 2, 99 and 268.