Superannuation (Productivity Benefit) Alternative Arrangements Declaration No. 1 (Cth)

Statutory Rules 1990 No. 416¹

Superannuation (Productivity Benefit)

Alternative Arrangements Declaration
 No. 1

I, RALPH WILLIS, Minister of State for Finance, hereby make the following Declaration under subsection 4A(1) and (2) of the Superannuation (Productivity Benefit) Act 1988.

Dated 10 December 1990.

RALPH WILLIS

Minister of State for Finance

_________

Citation

1. This Declaration may be cited as Superannuation (Productivity Benefit) Alternative Arrangements Declaration No. 1.

Commencement

2. This Declaration takes effect from 1 January 1988.

Repeal

1. Superannuation (Productivity Benefit) Declaration No. 42. is repealed.

$$S 2.  Statutory Rules 1990 No. 175.

Interpretation

4. In this Declaration:

“Central Land Council” means the Central Land Council established under section 21 of the Aboriginal Land Rights (Northern Territory) Act 1976;

“the Act” means the Superannuation (Productivity Benefit) Act 1988.

Class employees

5. For the purposes of subsection 4A (1) of the Superannuation (Productivity Benefit) Act 1988, the classes of qualified employees specified in the Schedule not being scheme employees, are classes of employees who are neither fund employees nor interim arrangement employees.

Specified arrangements: staff of the Central Land Council

1. (1)   For the purposes of subsection 4A (2) of the Superannuation (Productivity Benefit) Act 1988, the following arrangements are to apply to members of the staff of the Central Land Council.

(2)   In this clause, “joining date”, in relation to a person who is a member of the staff of the Central Land Council, means:

(a)   if the person was a member of the staff on 1 January 1988—1 January 1988; or

(b)   if the person became a member of the staff after 1 January 1988—the day on which the person became a member of that staff.

(3)   Where a member of the staff of the Central Land Council has not made an election under subclause (4), the member is taken to have become an interim arrangement employee on the joining date.

(4)   A member of the staff of the Central Land Council may, at any time, elect to become a member of the nominated fund, an approved fund or the superannuation fund called the AMP Superleader Plan.

(5)   A member of the staff of the Central Land Council who makes an election under subclause (4) may revoke the election.

(6)   An election under subclause (4) or a revocation under subclause (5):

(a)   may be made by notice in writing given to the Central Land Council; and

(b)   takes effect when the notice is given.

(7)   If a member of the staff of the Central Land Council makes an election under subclause (4), the Act commences to apply to the member when the election takes effect as if:

(a)   the member were a remainder employee and a fund employee; and

(b)   the AMP Superleader Plan had been declared under subsection 4C (1) of the Act to be an approved fund; and

(c)   the Act were modified by omitting subsections 4C (2) and (3).

(8)   If a member of the staff of the Central Land Council revokes an election made under subclause (4), subclause (7) ceases to have effect in relation to the member when the revocation takes effect.

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SCHEDULE   Clause 5

CLASS EMPLOYEES

1                    Employees of the following bodies:

Aerospace Technologies of Australia

ANL Limited

Australian Airlines Limited

Australian Defence Industries Ltd

Australian Industry Development Corporation

Australian Meat and Livestock Corporation

Australian National Railways Commission

Australian Postal Corporation

Australian Telecommunications Corporation

Commonwealth Serum Laboratories Commission

Civil Aviation Authority

Coselco Mimotopes Pty Ltd

Federal Airports Corporation

Film Australia Pty Ltd

OTC Limited

Snowy Mountains Engineering Corporation Limited

2                    Employees provided with personalised superannuation coverage under an approval by the Minister for Finance

3                    Employees of Commonwealth educational institutions who are members of the Tertiary Education Superannuation Scheme

4                    Members of the staff of the Central Land Council

NOTES

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

2.  Statutory Rules 1990 No. 175.