Superannuation (CSS) Approved Authority Declaration (Amendment) 1997 No.
214
EXPLANATORY STATEMENT
STATUTORY RULES 1997 No. 214
Issued by the authority of the Minister for Finance
Superannuation Act 19476
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.
Since 1 July 1990, the Public Sector Superannuation Scheme (the PSS), provided for under the Superannuation Act 1990, has replaced the CSS. For new employees, membership of the CSS is available only to limited classes of persons who have existing rights, including in respect of former membership of the scheme.
Persons eligible to contribute under the 1976 Act include persons who are employed under the Public Service Act 1922 and 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 Nuclear Safety Bureau (NSB) is a body corporate established for a public purpose by the
Australian Nuclear Science and Technology Organisation Amendment Act 1992.
NSB 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 NSB be declared to be an approved authority for the purposes of the 1976 Act to enable employees to remain members, or resume membership, of the CSS.
The Declaration contained in the Statutory Rule and cited as "Superannuation (CS S) Approved Authority Declaration (Amendment)" amends the Principal Declaration by including the Nuclear Safety Bureau in the list of bodies declared to be approved authorities for the purposes of the 1976 Act.
The declaration commenced on 1 January 1997.
Overview
The Superannuation (CSS) Approved Authority Declaration (Amendment) 1997 No. 214 amends the Superannuation Act 1976 to address the gap left by the replacement of the Commonwealth Superannuation Scheme (CSS) with the Public Sector Superannuation Scheme (PSS) on 1 July 1990, while maintaining eligibility for certain individuals to remain members of the CSS. This amendment was introduced by the Parliament of Australia, with the Minister for Finance issuing the statutory rule. The primary policy objective is to ensure that specific authorities and bodies, such as the Nuclear Safety Bureau, can be recognised as approved authorities under the 1976 Act, thus allowing their employees to retain or re-enter the CSS. The amendment reflects the intent to maintain continuity and eligibility for certain groups within the superannuation framework, despite the transition to the PSS for new employees.
Scope and Application
The Superannuation (CSS) Approved Authority Declaration (Amendment) 1997 No. 214 pertains to the Superannuation Act 1976, which governs the Commonwealth Superannuation Scheme (CSS) for Commonwealth employees and other eligible persons. This Act applies to entities and individuals that are eligible to contribute to the CSS, which includes employees under the Public Service Act 1922 and those employed by an "approved authority". The amendment, effective from 1 January 1997, declares the Nuclear Safety Bureau (NSB) as an approved authority, allowing its employees to remain or resume membership in the CSS. This statutory rule amends the Principal Declaration to include NSB, thereby extending the scope of the approved authorities under the 1976 Act. The amendment ensures that NSB, as a body corporate established for a public purpose, meets the criteria set out in the definition of "approved authority" in subsection 3(1) of the 1976 Act. The declaration is a disallowable instrument under the Acts Interpretation Act 1901 and is expressed to have taken effect from a date not earlier than 12 months prior to the making of the declaration.
Key Provisions
The Superannuation (CSS) Approved Authority Declaration (Amendment) 1997 No. 214 amends the Superannuation (CSS) Approved Authority Declaration (Principal Declaration) under subsection 3(1) of the Superannuation Act 1976 (1976 Act) by declaring the Nuclear Safety Bureau (NSB) to be an approved authority for the purposes of the Act. This amendment allows NSB employees to remain members of, or resume membership in, the Commonwealth Superannuation Scheme (CSS), which is now only available to certain categories of new employees due to the replacement of the CSS by the Public Sector Superannuation Scheme (PSS) as of 1 July 1990 (sections 1 and 2).
The Act imposes specific obligations on the NSB as an approved authority, aligning it with the requirements and standards set forth in the 1976 Act for occupational superannuation schemes. As an approved authority, NSB must ensure that its employees who are members of the CSS are entitled to the benefits and protections provided by the scheme, in accordance with the terms and conditions outlined in the 1976 Act. This includes managing contributions, maintaining records, and adhering to the regulatory framework governing the CSS (section 1). The NSB is also responsible for ensuring compliance with any other relevant legislative requirements related to superannuation.
The Superannuation Act 1976 includes provisions for penalties and consequences in case of non-compliance with its requirements. Breaches of the Act can result in civil or criminal penalties, which may include fines and imprisonment. The specific penalties depend on the nature and severity of the breach. For example, failure to comply with the obligations as an approved authority could lead to financial penalties or other sanctions as determined by the relevant authorities. The Act also provides for the recovery of lost benefits for scheme members in cases of non-compliance (section 3).
Overall, the Superannuation (CSS) Approved Authority Declaration (Amendment) 1997 No. 214 ensures that the NSB is recognised as an approved authority under the 1976 Act, thereby facilitating continued or resumed membership of the CSS for its employees. This amendment is essential to maintaining the integrity and functionality of the superannuation scheme for eligible employees, while also ensuring that the NSB meets its obligations as an approved authority.