Overview

The Defence Act 1903, as amended by the Defence Force (Superannuation)(Productivity Benefit) Determination No 1 of 1998, addresses issues related to the financial benefits and productivity of members within the defence forces. This legislative instrument was enacted by Bronwyn Kathleen Bishop, the Minister for Defence Industry, Science and Personnel, under the authority of section 52 of the Defence Act 1903. The primary objective of this determination is to modify the calculation of interest applicable in respect of certain calendar years, specifically introducing a new interest factor for the year 1998. This change aims to ensure that the superannuation benefits for defence personnel are calculated accurately, reflecting any changes in economic conditions and productivity. The amendment commenced on 1 January 1998, integrating the new interest factor into the superannuation benefit framework for that year.

Scope and Application

The Defence Act 1903 Determination No 1 of 1998 applies to the Defence Force, specifically concerning the calculation of interest applicable in respect of certain calendar years. The determination is made by the Minister for Defence Industry, Science and Personnel, Bronwyn Kathleen Bishop, and amends the Defence Force (Superannuation) (Productivity Benefit) Determination. The amendment affects the calculation of interest for superannuation benefits under the Defence Force, applying to the calendar year 1998. The jurisdiction of this legislation is Commonwealth, affecting all members of the Defence Force. There are no stated exclusions, exemptions, or thresholds in the determination itself, but the application of the broader Defence Act 1903 may encompass specific conditions or exceptions. The commencement of Clause 3 is effective from 1 January 1998, and the schedule adds a specific interest factor for that year, demonstrating the legislative intent to adjust financial aspects related to the Defence Force in line with economic conditions or other relevant factors.

Key Provisions

The main operative sections of the Defence Force (Superannuation)(Productivity Benefit) Determination, as amended by Determination No 1 of 1998, pertain to the calculation of productivity benefits for superannuation purposes within the Defence Force. Section 1.1 specifically addresses amendments to the existing determination. Section 2.1 provides for the commencement of Clause 3, effective from 1 January 1998. The Schedule, or Section 3.1, adds a new factor for the calculation of interest applicable to certain calendar years, specifically 1998, which is set at 0.0514. The obligations imposed by this legislation primarily concern the calculation and application of productivity benefits within superannuation for Defence Force personnel. The amendment requires that the specified interest factor be applied to the calculation of these benefits for the year 1998, as per the Schedule. This necessitates that any entities or individuals involved in the calculation and administration of superannuation benefits for Defence Force members must use the new factor for the relevant period. Breaches of the provisions set out in this Determination could lead to civil or criminal consequences, depending on the nature and severity of the non-compliance. While the legislation itself does not explicitly state the maximum penalties for non-compliance, it is understood that breaches of Defence-related regulations can result in significant penalties under Australian law. These may include fines and, in more severe cases, imprisonment. The exact penalties would be determined by the courts based on the specific circumstances of the breach.