EXPLANATORY STATEMENT
STATUTORY RULES 1990 NO 412.
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 Act) makes provision for and in relation to an occupational superannuation scheme (the CSS) for certain Commonwealth employees and other persons.
Persons eligible to contribute under the Act include certain persons employed by a body or authority which is an approved authority for the purposes of the Act. In accordance with paragraph (a) of the definition of “approved authority” in subsection 3(1) of the 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 Act, being an authority or body of a kind described in the definition.
Section 4A of the Act provides that such a declaration by the Minister for Finance 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 National Training Board was established through a Memorandum of Understanding between the Commonwealth and the States and Territories under the Companies Act 1981 as a company limited by guarantee on 25 January 1990. The Board commenced engaging employees from 9 April 1990.
The Rural Industries Research and Development Corporation was established by the Primary Industries and Energy Research and Development Act 1989 on 1 July 1990. It is a body corporate with power to engage employees necessary for the performance of its functions. The Corporation commenced engaging employees from 1 August 1990.
The National Training Board and the Rural Industries Research and Development Corporation are bodies of a kind described in the definition of approved authority in subsection 3(1) of the Act. It is appropriate that the two bodies be declared to be approved authorities for the purposes of the Act to enable their staff to remain or become members of the CSS.
The Declaration contained in the Statutory Rule, and cited as Superannuation (CSS) Approved Authority Declaration No. 3, declares the National Training Board and the Rural Industries Research and Development Corporation to be approved authorities for the purposes of the Act with effect from 9 April 1990 and 1 August 1990 respectively.