Superannuation (Prescribed Rates of Interest) Regulations (Amendment) (Cth)

Statutory Rules

1974 No. 87

REGULATION UNDER THE SUPERANNUATION ACT 1922-1973.*

WHEREAS it is enacted by sub-section (4) of section 90 of the Superannuation Act 1922-1973 that, in making a regulation prescribing a rate of interest in respect of a financial year for the purposes of sub-section (3) of that section, the Governor-General is not required to act on the recommendation of the Superannuation Hoard but he shall not make a regulation prescribing a rate of interest in respect of a financial year unless the Superannuation Board has furnished a report to the Treasurer specifying—

(a) the average rate of interest that is determined by the Superannuation Board to have been earned by the Superannuation Fund in that financial year; and

(b) the rate of interest that, in the opinion of the Superannuation Board should, having regard to that average rate of interest and to such other matters as the Superannuation Board thinks relevant, be prescribed in respect of that financial year:

AND WHEREAS the Superannuation Board has furnished a report to the Treasurer in accordance with sub-section (4) of section 90 of the Superannuation Act 1922-1973 in respect of the financial years that commenced on 1 July 1971 and 1 July 1972;

NOW THEREFORE I, the Governor-General of Australia, acting with the advice of the Executive Council, hereby make the following Regulation under the Superannuation Act 1922-1973.

Dated this fifteenth day of May, 1974.

Paul Hasluck

Governor-General.

By His Excellency’s Command,

Treasurer.

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Amendment of the Superannuation (Prescribed Rates of Interest) Regulations

The Schedule.

The Schedule to the Superannuation (Prescribed Rates of Interest) Regulations is amended by adding at the end thereof the following words and figures:—

“Financial year that commenced on 1 July 1971.................................................................	6.383
Financial year that commenced on 1 July 1972................................................................	6.508”.

 

* Notified in the Australian Government Gazette on 21 May 1974.

  Statutory Rules 1966, No. 63, as amended by Statutory Rules 1967, No. 36; 1963, Nos. 64 and 142; 1972, No. 174; 1973, No. 210; and 1974, No. .

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12389/74—Price 5c 9/10.4.1974