Superannuation Legislation (Consequential Amendments and Transitional Provisions) Act 2011
Act No. 58 of 2011 as amended
This compilation was prepared on 15 November 2012
taking into account amendments up to Act No. 136 of 2012
The text of any of those amendments not in force
on that date is appended in the Notes section
The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section
Prepared by the Office of Parliamentary Counsel, Canberra
Contents
1 Short title [see Note 1]...........................
2 Commencement
3 Schedule(s)
Schedule 1—Consequential amendments
Part 1—General amendments
Administrative Appeals Tribunal Act 1975
Auditor‑General Act 1997
Australian Crime Commission Act 2002
Australian Federal Police Act 1979
Australian Prudential Regulation Authority Act 1998
Australian Radiation Protection and Nuclear Safety Act 1998
Australian Securities and Investments Commission Act 2001
Building and Construction Industry Improvement Act 2005
Classification (Publications, Films and Computer Games) Act 1995
Coordinator‑General for Remote Indigenous Services Act 2009
Crimes (Superannuation Benefits) Act 1989
Defence Act 1903
Defence Force Retirement and Death Benefits Act 1973
Defence Forces Retirement Benefits Act 1948
Director of Public Prosecutions Act 1983
Family Law Act 1975
Federal Court of Australia Act 1976
Financial Management and Accountability Regulations 1997
Gene Technology Act 2000
Governor‑General Act 1974
Inspector‑General of Taxation Act 2003
Military Superannuation and Benefits Act 1991
National Blood Authority Act 2003
Native Title Act 1993
Ombudsman Act 1976
Papua New Guinea (Staffing Assistance) Act 1973
Parliamentary Contributory Superannuation Act 1948
Productivity Commission Act 1998
Renewable Energy (Electricity) Act 2000
Social Security (Administration) Act 1999
Superannuation Act 1922
Superannuation Act 1976
Superannuation Act 1990
Superannuation Act 2005
Superannuation (Productivity Benefit) Act 1988
Veterans’ Entitlements Act 1986
Part 2—Amendments to change references to the Authority and the Board
Schedule 2—Transitional provisions
Part 1—Preliminary
Part 2—Assets, liabilities and legal proceedings
Part 3—References to, and things done by or in relation to, certain persons
Division 1—Provisions relating to the MSB Board
Division 2—Provisions relating to the Authority
Division 3—Provisions relating to the Commissioner for Superannuation
Part 4—Office holders
Part 5—Review of decisions
Part 6—Reporting
Part 7—Miscellaneous
Notes
An Act to deal with consequential and transitional matters arising from the enactment of the Governance of Australian Government Superannuation Schemes Act 2011 and the ComSuper Act 2011, and for other purposes
1 Short title [see Note 1]
This Act may be cited as the Superannuation Legislation (Consequential Amendments and Transitional Provisions) Act 2011.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information |
Column 1 | Column 2 | Column 3 |
Provision(s) | Commencement | Date/Details |
1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table | The day this Act receives the Royal Assent. | 28 June 2011 |
2. Schedules 1 and… |
Overview
The Superannuation Legislation (Consequential Amendments and Transitional Provisions) Act 2011 was enacted by the Australian Parliament to address the consequential and transitional issues arising from the establishment of the Commonwealth Superannuation Corporation (CSC) under the Governance of Australian Government Superannuation Schemes Act 2011. This Act makes amendments to various superannuation-related laws to reflect the new administrative arrangements and ensures that references to the former superannuation authorities are updated accordingly. It also includes transitional provisions to manage the transfer of assets, liabilities, and responsibilities from the previous superannuation bodies to the CSC. The overarching policy objective of this legislation is to facilitate a smooth transition to the new superannuation governance structure while maintaining continuity in superannuation services and legal obligations.
Scope and Application
The Superannuation Legislation (Consequential Amendments and Transitional Provisions) Act 2011 is a Commonwealth Act that enacts consequential amendments and transitional provisions arising from the enactment of the Governance of Australian Government Superannuation Schemes Act 2011 and the Commonwealth Superannuation (ComSuper) Act 2011. The Act applies to various Acts and regulations, including those related to the Administrative Appeals Tribunal, Audit, Crime, Defence, Financial Management, and more. It replaces references to the former superannuation boards and authorities with the Commonwealth Superannuation Corporation (CSC), established under the Governance Act. The Act also outlines transitional arrangements for assets, liabilities, legal proceedings, office holders, and reporting requirements. It applies nationally, as it is a Commonwealth Act, and there are no exclusions or exemptions specified within the text. The Act extends its application through subordinate instruments, such as regulations, which may provide additional transitional provisions or address specific cases not covered by the main Act.
Key Provisions
- The Superannuation Legislation (Consequential Amendments and Transitional Provisions) Act 2011, as amended, contains provisions to address the legal and administrative implications arising from the enactment of the Governance of Australian Government Superannuation Schemes Act 2011 and the ComSuper Act 2011. The Act makes amendments to various existing laws to reflect the establishment of the Commonwealth Superannuation Corporation (CSC) and the transfer of responsibilities from the former Australian Government Superannuation Board and other entities.
- Key sections and provisions of the Act include amendments to definitions, references, and operational procedures across numerous Acts to substitute references to the former entities with references to CSC. For example, in the Administrative Appeals Tribunal Act 1975, references to the Board and the Commissioner for Superannuation are substituted with references to CSC. Furthermore, the Act repeals certain sections and subsections and amends others to align with the new governance structure.
- Obligations imposed by the Act on parties and entities include ensuring that references in existing laws are updated to reflect the new administrative arrangements. This includes replacing references to the former Board and Commissioner for Superannuation with references to CSC and ensuring that any ongoing legal proceedings involving the former entities are continued by CSC. Additionally, the Act imposes obligations on CSC to provide financial statements, reports, and other documents as required by law and to handle administrative tasks such as the review of decisions and the establishment of advisory committees where necessary.
- The Act also outlines offences and penalties for non-compliance. For instance, under sections 135.2, 136.1, 137.1, and 137.2 of the Criminal Code, a person convicted of an offence related to making false statements to CSC may be ordered to pay an amount equal to any benefit paid as a result of the act, failure, or omission. The maximum penalties for such offences are determined by the Criminal Code, which includes fines and imprisonment terms depending on the severity of the offence.
- Civil and criminal consequences for breaches of the Act or related provisions can include fines, imprisonment, or both, depending on the nature and severity of the breach. The Act also provides for the validation of certain audit fees and the transfer of assets and liabilities from the former entities to CSC, ensuring continuity in the management and operation of superannuation schemes.
- Area of Law
- Superannuation Law
- Administrative Law
- Instrument
- Act
- Concepts
- Commencement Provisions
- Repeal & Amendment
- Transitional Provisions
- Licensing & Registration
- Reporting & Disclosure Obligations
- Review & Sunset Clauses
