Superannuation (CSS) Approved Authority Declaration (Amendment) 1996 No.
95
EXPLANATORY STATEMENT
STATUTORY RULES 1996 No. 95
Issued by the Authority of the Minister for Finance
Superannuation Act 1976
Declaration under paragraph (a) of the definition of "Approved Authority" in subsection 3(1)
The Superannuation Act 1976 (the 1976 Act) makes provision for and in relation to an occupational superannuation scheme, known as the Commonwealth Superannuation Scheme (the CSS), for Commonwealth employees and for certain other persons.
Persons eligible to contribute under the 1976 Act include persons who are employed under the Public Service Act 1922, as well as persons who are employed by an "approved authority". In accordance with paragraph (a) of the definition of "approved authority" in subsection 3(1) of the 1976 Act, an approved authority includes an authority or other body declared by the Minister for Finance to be an approved authority for the purposes of the 1976 Act, being an authority or body of a kind described in the definition. Declarations made under paragraph (a) of the definition of approved authority are contained in the Superannuation (CSS) Approved Authority Declaration (the Principal Declaration).
Section 4A of the 1976 Act provides that such a declaration is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 and a Statutory Rule for the purposes of the Statutory Rules Publication Act 1903 and may be expressed to have taken effect from and including a day not earlier than 12 months before the making of the declaration.
The Sydney Symphony Orchestra Holdings Pty Limited (the SSO) is a body approved by the Minister for Communications and the Arts under subsection 25A(3) of the Australian Broadcasting Corporation Act 1983 to carry on a business for the purposes of providing a full-time orchestra for Sydney.
The SSO is a body of a kind described in paragraph (a) of the definition of "approved authority" in subsection 3(1) of the 1976 Act. It is appropriate that the SSO be declared to be an approved authority for the purposes of the 1976 Act to enable employees of the SSO to remain members of the CSS scheme.
The Declaration contained in the Statutory Rule and cited as "Superannuation (CSS) Approved Authority Declaration (Amendment)" amends the Principal Declaration by including the Sydney Symphony Orchestra Holdings Pty Limited in the list of bodies declared to be approved authorities for the purposes of the 1976 Act.
The Declaration commenced on 1 March 1996.
Overview
The Superannuation (CSS) Approved Authority Declaration (Amendment) 1996 No. 95, issued under the authority of the Minister for Finance, amends the Superannuation Act 1976. This Act was enacted to provide for an occupational superannuation scheme, known as the Commonwealth Superannuation Scheme (CSS), for Commonwealth employees and certain other persons. The purpose of this amendment is to address a gap in the scheme by declaring the Sydney Symphony Orchestra Holdings Pty Limited an approved authority for the purposes of the Act, enabling its employees to remain members of the CSS. The amendment was made to ensure that the definition of "approved authority" in the Act encompasses bodies such as the SSO, which are approved by relevant ministers and are of a kind described in the Act. This change was intended to align the scheme with the broader intent of providing superannuation benefits to eligible employees of approved entities.
Scope and Application
The Superannuation (CSS) Approved Authority Declaration (Amendment) 1996 No. 95 applies to the Superannuation Act 1976, which establishes the Commonwealth Superannuation Scheme (CSS) for Commonwealth employees and other eligible persons. The Act is concerned with the declaration of approved authorities under the definition in subsection 3(1) of the 1976 Act, allowing certain bodies to be included within the scheme's scope to enable their employees to participate in the CSS. The amendment specifically includes the Sydney Symphony Orchestra Holdings Pty Limited as an approved authority, thereby extending the scheme's applicability to its employees. The amendment took effect from 1 March 1996, and as a disallowable instrument, it is subject to the provisions of the Acts Interpretation Act 1901. The geographic reach of this legislation is national, as it pertains to the Commonwealth-level superannuation scheme.
Key Provisions
The Superannuation (CSS) Approved Authority Declaration (Amendment) 1996 No. 95 introduces amendments to the existing Superannuation (CSS) Approved Authority Declaration. It specifically adds the Sydney Symphony Orchestra Holdings Pty Limited (SSO) to the list of approved authorities under the Superannuation Act 1976 (1976 Act). This amendment is significant as it allows employees of the SSO to remain members of the Commonwealth Superannuation Scheme (CSS). According to the Act, an approved authority is defined in subsection 3(1), and the amendment to this definition is detailed in section 4A, which specifies that such declarations are disallowable instruments and Statutory Rules.
The obligations and requirements imposed by this Act on the parties involved are primarily administrative in nature. The Minister for Finance is responsible for declaring bodies as approved authorities, and this declaration is subject to the criteria set forth in the 1976 Act. In this instance, the Minister has declared the SSO as an approved authority, thereby enabling its employees to participate in the CSS. The SSO, as an approved authority, must comply with the provisions of the 1976 Act, ensuring that it meets the necessary criteria and maintains its status as an approved authority.
In terms of offences, penalties, or civil/criminal consequences for breach, the Superannuation (CSS) Approved Authority Declaration (Amendment) 1996 No. 95 does not explicitly state specific penalties for non-compliance with the declaration. However, the Superannuation Act 1976 and related legislation may impose penalties for non-compliance with the requirements of the CSS or related declarations. Such penalties could include fines or other civil or administrative sanctions as prescribed by the relevant laws. It is essential for the SSO and any other approved authorities to ensure compliance with the Act to avoid any potential legal repercussions.