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.
Overview
The Superannuation (Approved Authorities) Regulations (Amendment) 1987 was enacted to update the list of approved authorities eligible to participate in the occupational superannuation scheme established under the Superannuation Act 1976. This legislation was issued under the authority of the Minister for Finance and is intended to ensure that the list of approved authorities reflects current regulatory and organisational changes, particularly in relation to the pig and meat industries. The primary policy objective of these amendments is to maintain the integrity and applicability of the superannuation scheme by ensuring that it covers entities that are relevant and active within their respective industries. By removing outdated references and adding new authorities, the regulations aim to keep the scheme current and effective in providing superannuation benefits to eligible employees.
The Superannuation Act 1976 was designed to provide for an occupational superannuation scheme for Commonwealth employees and certain other persons. By specifying which authorities and bodies are approved, the Act ensures that the scheme remains flexible and inclusive of various entities as they evolve or new ones emerge. The Superannuation (Approved Authorities) Regulations (Amendment) 1987 specifically address the cessation of the Pork Promotion Committee and the establishment of the Australian Pork Corporation and the Australian Meat and Live-stock Research and Development Corporation, ensuring these changes are incorporated into the regulatory framework governing the scheme.
Scope and Application
The Superannuation (Approved Authorities) Regulations (Amendment) Statutory Rules 1987 No. 226, issued under the authority of the Minister for Finance, amend the Superannuation (Approved Authorities) Regulations to adjust the list of approved authorities eligible to participate in the occupational superannuation scheme established by the Superannuation Act 1976. The Act applies to Commonwealth officers and employees, other Commonwealth employees, and persons employed by approved authorities, which are defined as authorities or bodies specified in the regulations or those that were approved authorities under the Superannuation Act 1922. The Regulations amend the Principal Regulations to remove the Pork Promotion Committee, which ceased to exist on 1 August 1987, and add the Australian Pork Corporation and the Australian Meat and Livestock Research and Development Corporation as approved authorities. These amendments ensure the list of approved authorities aligns with current entities involved in the pig and meat industries. The geographic scope of the Act is national, covering all Commonwealth entities and approved authorities across Australia. The Regulations themselves extend the application of the Act by specifying additional approved authorities and adjusting the list in accordance with the changes in relevant industry bodies.
Key Provisions
The Superannuation (Approved Authorities) Regulations (Amendment) amend the Superannuation (Approved Authorities) Regulations to reflect changes in the approved authorities under the Superannuation Act 1976. Specifically, subregulation 3(1) removes the Pork Promotion Committee from the list of approved authorities as it ceased to exist on 1 August 1987. Subregulation 3(2) adds the Australian Pork Corporation, established by the Pig Industry Act 1986, and the Australian Meat and Livestock Research and Development Corporation, established by the Australian Meat and Livestock Research and Development Corporation Act 1985, as approved authorities. These amendments ensure the list of approved authorities accurately reflects the current entities eligible under the Act.
Parties or entities governed by these regulations must comply with the updated list of approved authorities as specified in the Superannuation (Approved Authorities) Regulations. This means that only the entities listed as approved authorities are eligible to contribute under the Superannuation Act 1976. The approved authorities now include the Australian Pork Corporation and the Australian Meat and Livestock Research and Development Corporation, in addition to other specified authorities or bodies that were already listed. Compliance involves ensuring that superannuation contributions are made to the correct approved authority as per the updated regulations.
The Superannuation Act 1976 does not explicitly outline specific offences, penalties, or consequences for non-compliance with the regulations pertaining to approved authorities. However, general provisions within the Act may apply where there is non-compliance with regulations made under the Act. This could potentially include civil or administrative penalties, enforcement actions, or other corrective measures. The precise consequences would depend on the specific nature of the non-compliance and the applicable provisions of the Superannuation Act 1976 and related regulations.