EXPLANATORY STATEMENT
STATUTORY RULES 1990 NO 411
ISSUED BY THE AUTHORITY OF THE MINISTER FOR FINANCE
SUPERANNUATION ACT 1990
DECLARATION UNDER PARAGRAPH (b) OF THE DEFINITION OF “APPROVED AUTHORITY” IN SECTION 3
The Superannuation Act 1990 (the Act) provides for a new superannuation scheme (the PSS Scheme) for Commonwealth employees and certain other persons to operate from 1 July 1990.
Persons eligible to become members of the PSS Scheme include certain persons employed by a body or authority which is an approved authority for the purposes of the Act. In accordance with section 3 of the Act, an approved authority includes an authority or 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.
In accordance with section 45 of the 1990 Act, a declaration for the purposes of paragraph (b) of the “approved authority” definition is to be 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.
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 Corporation is a body of a kind described in the definition of approved authority in section 3 of the Act. It is appropriate that the Corporation be declared to be an approved authority for the purposes of the Act to enable the Corporation’s staff to remain or become members of the PSS Scheme.
The Declaration contained in the Statutory Rule, and cited as Superannuation (PSS) Approved Authority Declaration No 1, declares the Rural Industries Research and Development Corporation to be an approved authority for the purposes of the 1990 Act.
The Declaration is taken to have had effect from and including 1 August 1990.