Superannuation (Former Eligible Employees) Regulations (Amendment) (Cth)

Statutory Rules 1990 No. 4511

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Superannuation (Former Eligible Employees) Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Superannuation Act 1976.

Dated 17 December 1990.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

Ralph Willis.

Minister of State for Finance

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1. Amendment

1.1 The Superannuation (Former Eligible Employees) Regulations are amended as set out in these Regulations.

2. New regulations 11 and 12

2.1 After regulation 10 insert:

Application of the Act to certain employees of Australian Defence Industries Ltd

“11. The Act applies subject to the modifications specified in Schedule 7 in respect of each person who:

(a) is a person to whom section 126a of the Act applies because of

S.R. 463/90 –Cat. No. 14/6 12 1980

 

the person becoming a member of a superannuation scheme, being:

(i) the ADI Superannuation Fund: or

(ii) the Superannuation Trust of Australia:

not later than 12 months after the commencement of this regulation: and

(b) was employed by Australian Defence Industries Ltd throughout the period beginning immediately before the commencement of this regulation and ending when the person so ceased to be an eligible employee; and

(c) had, immediately before so ceasing to be an eligible employee, been an eligible employee for a continuous period of not less than 12 months.

Application of the Act to certain employees of Coselco Mimotopes Pty Ltd

“12. The Act applies subject to the modifications specified in Schedule 8 in respect of each person who:

(a) is a person to whom section 126a of the Act applies because of the person becoming a member of a superannuation scheme, being the Coselco Mimotopes Pty Ltd Superannuation Plan, not later than 12 months after the commencement of this regulation; and

(b) was employed by Coselco Mimotopes Pty Ltd throughout the period beginning immediately before the commencement of this regulation and ending when the person so ceased to be an eligible employee; and

(c) had, immediately before so ceasing to be an eligible employee, been an eligible employee for a continuous period of not less than 12 months.”.

3. New Schedules 7 and 8

3.1 Add at the end:

SCHEDULE 7 Regulation 11

MODIFICATIONS—EMPLOYEES OF AUSTRALIAN DEFENCE INDUSTRIES LTD

1.Paragraph 136 (2) (b):

Omit “F1× (AC +AFC)”, substitute “F1 × AC”.

2.Paragraph 136 (2)(c):

Omit “and the person’s accumulated employer contributions (if any)”.

3.Paragraph 136 (2) (e):

Omit “accumulated employer contributions (if any) and the person’s”.

 

SCHEDULE 7—continued

4. Paragraph 136 (2) (g):

Omit “and the person’s accumulated employer contributions (if any)”.

5. Subparagraph 136 (2) (h) (ii):

Omit the subparagraph.

6. Subsection 136 (2):

Omit “; and AEC is the amount of the person’s accumulated employer contributions”.

7. Paragraph 136 (2b) (b):

Omit “accumulated employer contributions (if any) and the person’s”.

8. Paragraph 136 (2b) (d):

Omit “and the person’s accumulated employer contributions (if any)”.

9. Subparagraph 136 (2b) (e) (ii):

Omit the subparagraph.

10. Subparagraph 136 (2b) (g) (i):

Omit “or”.

11. Subparagraph 136 (2b) (g) (ii):

Omit the subparagraph.

12. Paragraph 136 (2b) (g):

Omit “and AEC is the amount of the person’s accumulated employer contributions:”.

13. Paragraphs 136 (2 b) (h) and (p):

Omit the paragraphs.

14. Subparagraph 136 (2b) (r) (i):

Omit “accumulated employer contributions (if any) and the person’s”.

15. Subparagraph 136 (2b) (r) (ii):

Omit “and the person’s accumulated employer contributions (if any)”.

16. Subparagraph 136 (2b) (s) (ii):

Omit the subparagraph.

17. Subsection 136 (2c):

Omit the subsection.

18. Subsection 139 (1):

Omit the subsection, substitute:

“(1) Subject to this Division, deferred benefits are applicable in respect of a person in respect of whom regulation 11 of the Superannuation (Former Eligible Employees Regulations applies as if the person had made an election under section 137.”.

19. Paragraph 139 (2) (b):

Omit the paragraph, substitute:

“(b) the date of his or her death:”.

 

SCHEDULE 7—continued

20. Paragraph 139 (2) (c):

After “being a date”, insert “on or after the person has ceased to be employed by Australian Defence Industries Ltd and”.

21. Paragraph 139 (2) (d):

Omit the paragraph, substitute:

“(d) if the person is not employed by Australian Defence Industries Ltd on the day on which that person attains the age of 65 years—the day on which he or she attains that age; or

“(c) if the person is employed by Australian Defence Industries Ltd on the day on which that person attains the age of 65 years—the day immediately after the day on which he or she ceases to be so employed.”.

22. Subsections 139 (3), (4), (6) and (7):

Omit the subsections.

23. Section 139a:

Omit the section.

24. Section 141:

Omit the section.

SCHEDULE 8 Regulation 12

MODIFICATIONS—EMPLOYEES OF COSELCO MIMOTOPES PTY LTD

1. Subsection 139 (1):

Omit the subsection, substitute:

“(1) Subject to this Division, deferred benefits are applicable in respect of a person in respect of whom regulation 12 of the Superannuation (Former Eligible Employees) Regulations applies as if the person had made an election under section 137.”.

2. Paragraph 139 (2) (b):

Omit the paragraph, substitute:

“(b) the date of his or her death;”.

3. Paragraph 139 (2) (c):

After “being a date”, insert “on or after the person has ceased to be employed by Coselco Mimotopes Pty Ltd and”.

4. Paragraph 139 (2) (d):

Omit the paragraph, substitute:

“(d) if the person is not employed by Coselco Mimotopes Pty Ltd on the day on which that person attains the age of 65 years—the day on which he or she attains that age: or

“(e) if the person is employed by Coselco Mimotopes Pty Ltd on the day on which that person attains the age of 65 years—the day immediately after the day on which he or she ceases to be so employed.”.

5. Subsections 139 (3), (4), (6) and (7):

Omit the subsections.

 

SCHEDULE 8—continued

6. Section 139a:

Omit the section.

7. Section 141:

Omit the section.

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 21 December 1990.

2. Statutory Rules 1986 No. 266 as amended to date. For previous amendments see Note 2 to Statutory Rules 1990 No. 141 and see also Statutory, Rules Nos. 141 and 176.

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