Superannuation Industry (Supervision) Regulations (Amendment) (Cth)

Statutory Rules 1998No. 177 1

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Superannuation Industry (Supervision) Regulations2 (Amendment)

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations under the Superannuation Industry (Supervision) Act 1993.

Dated 30 June 1998.

 WILLIAM DEANE

 Governor-General

By His Excellency’s Command,

C. R. Kemp

Assistant Treasurer

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1.   Commencement

1.1   This regulation and regulations 2 and 3 are taken to have commenced on 1 January 1998.

1.2   Regulation 4 commences on 1 July 1998.

2.   Amendment

2.1   The Superannuation Industry (Supervision) Regulations are amended as set out in these regulations.

3.   Regulation 6.01 (Interpretation)

3.1   Subregulation 6.01 (2) (definition of Commonwealth income support payment):

Omit “Social Security Act 1991;”, substitute “Social Security Act 1991; or

• (e)

  a drought relief payment under the Farm Household Support Act 1992 as in force immediately before the commencement of the Farm Household Support Amendment (Restart and Exceptional Circumstances) Act 1997; or

• (f)

  an exceptional circumstances relief payment under the Farm Household Support Act 1992; or

• (g)

  a payment of salary or wages made under the employment scheme of the Commonwealth that is known as the Community Development Employment Projects Scheme;”.

4.   Regulation 6.01 (Interpretation)

4.1   Subregulation 6.01 (2) (definition of Commonwealth income support payment):

Omit the definition, substitute:

“Commonwealth income support payment means:

• (a)

  an income support supplement, service pension or social security pension as defined in subsection 23 (1) of the Social Security Act 1991; or

• (b)

  a social security benefit as defined in that subsection, other than:

  • (i)

    an austudy payment; or

  • (ii)

    a youth allowance paid to a person who is undertaking full-time study; or

• (c)

  a drought relief payment under the Farm Household Support Act 1992 as in force immediately before the commencement of the Farm Household Support Amendment (Restart and Exceptional Circumstances) Act 1997; or

• (d)

  an exceptional circumstances relief payment under the Farm Household Support Act 1992; or

• (e)

  a payment of salary or wages made under the employment scheme of the Commonwealth that is known as the Community Development Employment Projects Scheme.”.

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NOTES

1. Notified in the Commonwealth of Australia Gazette on 30 June 1998.

2. Statutory Rules 1994 No. 57 as amended by 1994 Nos. 189 and 432; 1995 Nos. 47, 64, 142, 158, 159, 240, 293, 384 and 430; 1996 Nos. 44, 57, 122 and 344; 1997 Nos. 69, 117, 152, 153, 221, 243, 293, 309, 343 and 415; 1998 Nos. 76, 83, 108 and 175.