Superannuation (CSS) Approved Authority Declaration No. 6 1991 No. 393
EXPLANATORY STATEMENT
STATUTORY RULES 1991 No. 393
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 (the CSS) for certain Commonwealth employees and other persons.
The Superannuation Act 1990 provides for a new superannuation scheme (the PSS scheme) for Commonwealth employees which came into operation on 1 July 1990. Members of the CSS were given the option of remaining members of the CSS or of transferring to the PSS scheme.
Persons eligible to contribute under the 1976 Act include certain persons employed by an approved authority. In accordance with paragraph (a) of the definition of "approved authority" in subsection 3(1) of that 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 1976 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 Wool Research and Development Corporation was established under the Primary Industries and Energy Research and Development Amendment Act 1991 as a body corporate with power to engage employees necessary for the performance of its functions. The Corporation was established on 1 July 1991 and commenced engaging employees on that date.
The Wool Research and Development Corporation is a body of a kind described in the definition of approved authority in subsection 3(1) of the 1976 Act. It is appropriate that the body be declared to be an approved authority for the purposes of that Act to enable its employees to remain or become members of the CSS.
The Declaration contained in the Statutory Rule, and cited as Superannuation (CSS) Approved Authority Declaration No. 6, declares the Wool Research and Development Corporation to be an approved authority for the purposes. of the 1976 Act. The Declaration provides that the Corporation is taken to be an approved authority with effect from 1 July 1991, a date which falls within the maximum period of retrospectivity permitted under section 4A of the 1976 Act.
Overview
The Superannuation (CSS) Approved Authority Declaration No. 6 1991 No. 393, issued under the authority of the Minister for Finance, amends the Superannuation Act 1976 to address the need for inclusion of the Wool Research and Development Corporation as an approved authority. This declaration was made in response to the establishment of the Corporation under the Primary Industries and Energy Research and Development Amendment Act 1991, which necessitated its employees' eligibility to participate in the Commonwealth Superannuation Scheme (CSS). By declaring the Corporation an approved authority, the Declaration ensures that its employees can remain or become members of the CSS, thereby aligning with the objectives of the Superannuation Act 1976. This statutory rule, published in accordance with the Statutory Rules Publication Act 1903, specifies that the Corporation is recognised as an approved authority from 1 July 1991, respecting the maximum retrospective effect permitted by the Act.
Scope and Application
The Superannuation (CSS) Approved Authority Declaration No. 6, 1991, made under the Superannuation Act 1976, designates the Wool Research and Development Corporation as an approved authority for the purposes of that Act. This declaration allows employees of the Corporation to be eligible to contribute to the Commonwealth Superannuation Scheme (CSS) or to transfer to the Public Sector Superannuation Scheme (PSS). The declaration is effective from 1 July 1991, aligning with the Corporation's establishment date and within the 12-month retrospectivity limit permitted by the 1976 Act. The declaration ensures that employees of the Corporation can participate in the CSS, providing them with the option to remain in the existing scheme or to transfer to the newer PSS scheme. The declaration, being a disallowable instrument and a Statutory Rule, is subject to parliamentary scrutiny and review, ensuring adherence to legislative oversight.
Key Provisions
The main operative sections of Superannuation (CSS) Approved Authority Declaration No. 6, Statutory Rules 1991 No. 393, are essentially contained within the Declaration itself, where the Wool Research and Development Corporation is declared an approved authority under subsection 3(1) of the Superannuation Act 1976. This declaration is made in accordance with paragraph (a) of the definition of "approved authority" in that Act (subsection 3(1)). The Declaration specifies that the Wool Research and Development Corporation is deemed to be an approved authority for the purposes of the Act, effective from 1 July 1991, a date that complies with the maximum period of retrospectivity permitted under section 4A of the 1976 Act (subsection 4A). This means that employees of the Corporation can participate in the Commonwealth Superannuation Scheme (CSS) and the Public Service Superannuation Scheme (PSS scheme).
The obligations imposed on the Wool Research and Development Corporation by this Declaration are primarily procedural and administrative. As an approved authority under the Superannuation Act 1976, the Corporation must ensure that its employees are eligible to contribute to the CSS or may opt to transfer to the PSS scheme. This involves adhering to the provisions of the Act, including any changes to the CSS or PSS scheme, and ensuring that its employees are informed of their options and rights under these schemes. Additionally, the Corporation must comply with any further declarations or notifications that may be made by the Minister for Finance regarding approved authorities.
Breaches of the Superannuation Act 1976, including non-compliance with the Declaration, may result in civil or criminal penalties. The exact nature and severity of these penalties depend on the specific breach and the provisions of the Act. Under the 1976 Act, the Minister for Finance has the authority to take action against an approved authority that fails to comply with the requirements of the Act, including the potential for the Corporation to be removed from its status as an approved authority. In the case of more serious breaches, criminal charges may be brought against individuals or the Corporation, with penalties that could include fines and imprisonment, depending on the nature and severity of the offence. The maximum penalties for specific offences are outlined in the Act and related legislation, ensuring that there are clear consequences for non-compliance.