EXPLANATORY STATEMENT
STATUTORY RULES 1988 NO 48
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.
Subsection 3(1) 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.
The A.C.T Institute of Technical and Further Education was established by the A.C.T Institute of Technical and Further Education Ordinance 1987 with effect from and including 4 January 1988. The Canberra Institute of the Arts was established by the Canberra Institute of the Arts Ordinance 1988 with effect from and including 4 February 1988. Both Institutes are empowered to employ staff. It is appropriate that the Institutes be specified as approved authorities so that the staff will be required or eligible to contribute under the Act.
The Institutes are bodies of a kind described in the definition of “approved authority” in subsection 3(1) of the Act.
Subregulation 3(1) of the Regulations amends the Principal Regulations to specify the A.C.T. Institute of Technical and Further Education as an approved authority for the purposes of the Act. By subregulation 1(1) of the Regulations, subregulation 3(1) is deemed to have taken effect from and including 4 January 1988.
Subregulation 3(2) of the Regulations amends the Principal Regulations to specify the Canberra Institute of the Arts as an approved authority for the purposes of the Act. By subregulation 1(2) of the Regulations, subregulation 3(2) is deemed to have taken effect from and including 8 February 1988.