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.
Overview
The Superannuation Act 1976 was enacted to provide for and regulate an occupational superannuation scheme for certain Commonwealth employees and other individuals. This legislation establishes a framework to ensure that eligible participants can contribute to and benefit from a superannuation arrangement. The Act aims to address the need for a structured retirement savings system for certain groups of workers within the public sector. The Superannuation (CSS) Approved Authority Declaration No. 3, issued under the authority of the Minister for Finance, serves to declare the National Training Board and the Rural Industries Research and Development Corporation as approved authorities for the purposes of the Act. This declaration was made to allow employees of these entities to remain or become members of the Commonwealth Superannuation Scheme (CSS), effective from 9 April 1990 for the National Training Board and from 1 August 1990 for the Rural Industries Research and Development Corporation. The policy objective of this declaration is to ensure continuity and eligibility for superannuation benefits for the staff of these newly established entities.
Scope and Application
The Superannuation Act 1976, which is a Commonwealth Act, provides for the establishment of an occupational superannuation scheme (CSS) for certain Commonwealth employees and other eligible persons. This Act applies to persons employed by bodies or authorities declared as approved authorities under the Act, thereby including them in the scheme. The Explanatory Statement pertains to the declaration of the National Training Board and the Rural Industries Research and Development Corporation as approved authorities for the purposes of the Act. These declarations allow the staff of these entities to remain or become members of the CSS. The National Training Board, established under the Companies Act 1981, and the Rural Industries Research and Development Corporation, established under the Primary Industries and Energy Research and Development Act 1989, are recognised as bodies of a kind described in the definition of an approved authority in the Superannuation Act. The declaration, which is a disallowable instrument, is effective from 9 April 1990 for the National Training Board and from 1 August 1990 for the Rural Industries Research and Development Corporation. This declaration ensures that the employees of these entities are covered by the occupational superannuation scheme provided under the Act.
Key Provisions
The Superannuation Act 1976 (the Act) includes a provision under subsection 3(1) for the declaration of approved authorities, which are bodies or authorities eligible to participate in the Commonwealth Superannuation Scheme (CSS). Section 4A of the Act specifies that such declarations by the Minister for Finance are disallowable instruments under the Acts Interpretation Act 1901 and Statutory Rules under the Statutory Rules Publication Act 1903, with a requirement that they come into effect no earlier than 12 months before the declaration date. The Explanatory Statement outlines a specific declaration, Superannuation (CSS) Approved Authority Declaration No. 3, which declares the National Training Board and the Rural Industries Research and Development Corporation as approved authorities.
In declaring the National Training Board and the Rural Industries Research and Development Corporation as approved authorities, the Act aims to ensure that employees of these entities are eligible to contribute to the CSS, thereby providing them with the benefits of the superannuation scheme. The National Training Board, established under the Companies Act 1981 on 25 January 1990, began engaging employees from 9 April 1990. Similarly, the Rural Industries Research and Development Corporation, established under the Primary Industries and Energy Research and Development Act 1989 on 1 July 1990, commenced employing staff from 1 August 1990. The declaration ensures that these entities, as described in the Act, are recognized as approved authorities from their respective commencement dates.
The obligations imposed by the Act on these approved authorities include adherence to the terms and conditions set forth in the Superannuation Act 1976. This involves ensuring that employees are properly enrolled in the CSS and that contributions are made as required by the Act. Both the National Training Board and the Rural Industries Research and Development Corporation must comply with these obligations to maintain their status as approved authorities, thereby enabling their staff to benefit from the superannuation scheme.
The Act does not explicitly outline specific offences or penalties for breach in this context. However, failure to comply with the Act's requirements could result in civil or administrative consequences, such as penalties for non-compliance or the revocation of approved authority status. The exact penalties for such breaches would be determined by the relevant authorities and may vary depending on the nature and severity of the breach.