EXPLANATORY STATEMENT
STATUTORY RULES 1988 NO 273
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 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 purpose 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.
Paragraph 2(1)(a) of the Regulations amends the Principal Regulations to specify the Australian Capital Territory Electricity and Water Authority as an approved authority for the purposes of the Act. The Authority was established by the Electricity and Water Ordinance 1988 of the Australian Capital Territory with effect from 1 July 1988. The Authority replaces the ACT Electricity Authority which was an approved authority for the purposes of the Act as well as taking over certain functions of the ACT Administration. Staff of the ACT Electricity Authority and certain Australian Public Service staff were transferred to the Authority. By subregulation 1(1) of the Regulations, paragraphs 2(1)(a) is deemed to have taken effect from and including 1 July 1988.
Paragraph 2(1)(b) of the Regulations amends the Principal Regulations to specify Film Australia Pty. Limited as an approved authority for the purposes of the Act. Film Australia Pty. Limited is a wholly Commonwealth-owned company established to take over the film-making function of the Australian Film Commission. The Australian Film Commission is an approved authority for the purposes of the Act. Certain staff of the Australian Film Commission who were eligible employees for the purposes of the Act were transferred to Film Australia Pty. Limited on 1 July 1988. By subregulation 1(1) of the Regulations, paragraph 2(1)(b) is deemed to have taken effect from and including 1 July 1988.
Subregulation 2(2) of the Regulations amends the Principal Regulations to specify Coselco Mimotopes Pty. Ltd. as an approved authority for the purposes of the Act. Coselco Mimotopes Pty. Ltd. is a wholly owned and controlled subsidiary company of the Commonwealth Serum Laboratories Commission which is an approved authority for the purposes of the Act. The Company will be partially staffed by the transfer of Commission staff who are eligible employees for the purposes of the Act. The Company commenced to employ staff on 11 July 1888 and by subregulation 1(2) of the Regulations, subregulation 2(2) is deemed to have taken effect from and including 11 July 1988.
Coselco Mimotopes Pty. Ltd., Film Australia Pty. Limited and the Australian Capital Territory Electricity and Water Authority are bodies of a kind described in the definition of “approved authority” in subsection 3(1) of the Act. The Regulations enable staff of these bodies to remain, or become, eligible employees for the purposes of the Act.