EXPLANATORY STATEMENT
STATUTORY RULES 1990 NO 96
ISSUED BY THE AUTHORITY OF THE MINISTER FOR FINANCE
SUPERANNUATION ACT 1976
SUPERANNUATION (APPROVED AUTHORITIES) REGULATIONS (AMENDMENT)
The Superannuation Act 1976 (the Act) makes provision for and in relation to an occupational superannuation scheme for persons employed by the Commonwealth and for certain other persons.
Section 168 of the Act provides that the Governor-General may make regulations, not inconsistent with the Act, prescribing all matters which the Act requires or permits to be prescribed or which are necessary or convenient to be prescribed for carrying out or giving effect to the Act.
By virtue of the definitions of eligible employee, permanent employee and temporary employee in subsection 3(1) of the Act, those required or eligible to contribute under the Act include officers and employees for the purposes of the Public Service Act 1922, any other persons employed by the Commonwealth and persons employed by an approved authority.
Section 3 of the Act defines approved authority as:
(a) an authority or other body specified in the regulations as an approved authority for the purposes of the Act, being an authority or body of a kind described in the definition; or
(b) an authority or body that was an approved authority for the purposes of the Superannuation Act 1922 immediately before 1 July 1976, the date of commencement of the Act.
Authorities or bodies that have become approved authorities since 1 July 1976 are specified in the Superannuation (Approved Authorities) Regulations (the Principal Regulations).
Subsection 168(3) of the Act provides that regulations for the purposes of the approved authority definition made after 31 December 1978 may be expressed to have taken effect from and including a day not earlier than twelve months before the making of the regulations.
Australian Defence Industries Pty. Ltd. was incorporated in the Australian Capital Territory on 21 July 1988 to take over certain responsibilities performed by the Office of Defence Production in the Department of Defence. Staff of that Department, many of whom were eligible employees, were transferred to employment with the Company on 25 May 1989.
Australian Defence Industries Pty. Ltd. is a body of a kind described in the definition of approved authority in subsection 3(1) of the Act. It is appropriate that the Company be specified as an approved authority to enable its staff to become, or to remain, eligible to contribute under the Act.
Regulation 2 of the Regulations amends the Principal Regulations to specify Australian Defence Industries Pty. Ltd. as an approved authority for the purposes of the Act. By regulation 1 of the Regulations, regulation 2 is deemed to have taken effect from and including 25 May 1989.