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

Statutory Rules 1995

No. 236 1

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Superannuation (Former Eligible Employees) 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 18 July 1995.

 BILL HAYDEN

 Governor-General

By His Excellency’s Command,

KIM C. BEAZLEY

Minister for Finance

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1.   Amendment

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

[NOTE: These Regulations commence on gazettal: see Acts Interpretation Act 1901, s. 48.]

2. New

regulation 15B

2.1   After regulation 15A, insert:

Application of Act to eligible employees affected by Qantas sale

“15B.

(1) In this regulation:

‘Qantas’ means Qantas Airways Limited or a company that is a subsidiary of that company;

‘relevant day’ means the day on which the Commonwealth ceases to have a controlling interest in Qantas;

‘the Act’ means the Superannuation Act 1976.

“(2)

The Act is modified in accordance with Schedule 11 in its application to each person to whom this subregulation applies.

“(3)

Subject to subregulation (4), subregulation (2) applies to a person who:

• (a)

  was employed by Qantas immediately before the relevant day; and

• (b)

  was an eligible employee immediately before the relevant day; and

• (c)

  ceased to be an eligible employee because the Commonwealth ceased to have a controlling interest in Qantas.

“(4)

Subregulation (2) does not apply to a person:

• (a)

  who has made an election under section 137; and

• (b)

  unless the person has requested, before the end of 21 days after section 126A of the Act begins to apply to the person, that subregulation (2) be applied to the person by the Commissioner.

“(5)

If a person makes a request under paragraph 4 (b) before the relevant day, subregulation (2) is taken to begin to apply to the person on the day after the person ceases to be an eligible employee.

“(6)

The Act is modified in accordance with Schedule 13 in its application to each person to whom this subregulation applies.

“(7)

Subregulation (6) applies to a person who:

• (a)

  was employed by Qantas immediately before the relevant day; and

• (b)

  was an eligible employee immediately before the relevant day; and

• (c)

  ceased to be an eligible employee because the Commonwealth ceased to have a controlling interest in Qantas.”.

3.   Schedule 11 (Modifications—employees affected by privatisation, etc. (Delayed Updated Pension))

3.1   Omit the heading, substitute:

“SCHEDULE 11 Subregulations 15(1),

 15A (4) and 15B (2)

MODIFICATIONS—EMPLOYEES AFFECTED BY PRIVATISATION, ETC. (DELAYED UPDATED PENSION)”.

3.2   Subsection 144A (1):

After “or the election under paragraph 15A (3) (d) of those Regulations”, insert “or a request under paragraph 15B (4) (b) of those Regulations,”.

4.   New Schedule 13

After Schedule 12, insert:

“SCHEDULE 13Subregulation 15B (2)

ARRANGEMENTS FOR QANTAS EMPLOYEES

1.   Section 55 (Entitlement to age retirement benefit)

1.1   Subsection 55 (2):

Omit ‘subject to subsections (2A) and (3)’, insert ‘subject to subsections (2A), (2B) and (3)’.

1.2   After subsection (2A), insert:

• ‘(2B)

  Subsection (2) does not apply to:

• (a)

  a person who attains the age of 60 years before the day on which the Commonwealth ceases to have a controlling interest in Qantas Airways Limited and who ceases to be an eligible employee because the Commonwealth ceases to have a controlling interest in Qantas Airways Limited; and

• (b)

  a person who attains the age of 60 years before the day on which the Commonwealth ceases to have a controlling interest in a subsidiary of Qantas Airways Limited and who ceases to be an eligible employee because the Commonwealth ceases to have a controlling interest in that subsidiary.’.

2.   Section 55A (Accrual of benefits to be subject to SIS Act)

2.1   Omit the section.

3.   Section 58 (Early retirement—voluntary or involuntary retirement)

3.1   Paragraph 58 (2) (b):

Omit the paragraph, substitute:

• ‘(b)

  on or after the person attains the minimum retiring age but before the person attains the age of 60 years, the person ceases to be an eligible employee by reason that the person retires at the person’s own request or the person resigns;’.

4.   Section 111A (Relationship between this Act and SIS Act)

4.1   Omit the section.”.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 25 July 1995.

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; 1992 Nos. 94, 170, 212 and 271; 1993 No. 262; 1994 Nos. 19, 247, 346, 359 and 447; 1995 No. 93.