EXPLANATORY STATEMENT
STATUTORY RULES 1987 NO 226
ISSUED BY THE AUTHORITY OF THE MINISTER FOR FINANCE
SUBJECT: SUPERANNUATION ACT 1976
SUPERANNUATION (APPROVED AUTHORITIES) REGULATIONS (AMENDMENT)
Section 168 of the Superannuation Act 1976 (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.
The Act makes provision for and in relation to an occupational superannuation scheme for persons employed by the Commonwealth and for certain other persons.
By virtue of the definitions of “eligible employee”, “permanent employee” and “temporary employee” in subsection 3(1) of the Act, those 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 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.
Subregulation 3(1) of the proposed Regulations will amend the Principal Regulations to remove the reference to the Pork Promotion Committee. The Committee ceased to exist with effect from 1 August 1987 as a consequence of the repeal of the Pig Meat Promotion Act 1975 by the Pig Industry (Transitional Provisions) Act 1986. By regulation 1 of the the Regulations, subregulation 3(1) is deemed to have taken effect from and including 1 August 1987.
Subregulation 3(2) of the Regulations amends the Principal Regulations to specify the Australian Pork Corporation as an approved authority for the purposes of the Act. The Corporation was established by the Pig Industry Act 1986 with effect from 1 August 1987. By regulation 1 of the Regulations, subregulation 3(1) is deemed to have taken effect from and including 1 August 1987.
Subregulation 3(2) of the Regulations amends the Principal Regulations to specify the Australian Meat and Live-stock Research and Development Corporation as an approved authority for the purposes of the Act. The Corporation was established by the Australian Meat and Live-stock Research and Development Corporation Act 1985 with effect from 1 July 1985. Subregulation 3(3) came into operation from and including the date of gazettal of the Regulations.
The Australian Pork Corporation and the Australian Meat and Live-stock Research and Development Corporation are bodies of a kind described in the definition of “approved authority” in subsection 3(1) of the Act.