Superannuation (Salary) Regulations (Amendment) (Cth)

Statutory Rules 1988 No. 3501

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Superannuation (Salary) Regulations2

(Amendment)

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

Dated 15 December 1988.

N. M. STEPHEN

Governor-General

By His Excellency’s Command,

Peter Walsh

Minister of State for Finance

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The Superannuation (Salary) Regulations are amended by adding at the end the following Regulation:

Annual rate of salary of employees remunerated under incentive schemes

“22. (1) In this regulation, ‘incentive scheme’ means a scheme incorporated in a written agreement under which an eligible employee is entitled to earn part of his or her total remuneration by way of commissions or bonuses, or both, that become payable, in accordance with performance criteria applied individually to a class of eligible employees in which he or she is included, as set out in the agreement in relation to work or duties specified in the agreement.

“(2) Where an incentive scheme is applicable to an eligible employee who is an officer or employee of the Australian Telecommunications Commission, the annual rate of salary for the purposes of the Act of the eligible employee on a particular day is an amount equal to the amount per annum that would be the annual rate of salary for the purposes of the Act of the eligible employee on that day in accordance with the agreement to which that incentive scheme relates if:

(a) the incentive scheme was not applicable to the eligible employee on that day; and

 

(S.R. 371/88) Cat. No. 14/1.12.1988

(b) the eligible employee held, on that day, as such an officer or employee, a position having the same rank or classification as the rank or classification applicable to the eligible employee on that day in relation to his or her employment in accordance with the incentive scheme.

“(3) Subregulation (2) applies to an eligible employee to whom an incentive scheme is applicable subject to any right or entitlement applicable immediately before that scheme became applicable, under subsection 47 (1) of the Act. in relation to the ascertainment of his or her annual rate of salary.

“(4) In subregulation (2), ‘officer’ and ‘employee’ have the same meanings respectively as in the Telecommunications Act 1975.”.

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 21 December 1988.

2. Statutory Rules 1978 No. 282 as amended to date. For previous amendments see Note 2 to Statutory Rules 1988 No. 171 and see also Statutory Rules 1988 Nos. 171, 231 and 250.

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