Superannuation (PSS) Approved Authority Inclusion Amendment Declaration 2000 (No. 1)

Overview

The Superannuation (PSS) Approved Authority Inclusion Amendment Declaration 2000 (No. 1) was enacted in 2000 to address the need for specific entities to be included as approved authorities under the Superannuation Act 1990. This legislation was introduced by the Parliament of Australia and is intended to ensure that eligible employees of newly identified entities, such as Queensland Orchestras Pty Limited, can participate in the Public Sector Superannuation Scheme. The policy objective of this amendment is to expand the scope of entities recognised as approved authorities, thereby facilitating broader access to superannuation benefits for certain employees. The declaration is made under the authority of the Minister for Finance and Administration, and it amends the Principal Declaration by officially recognising Queensland Orchestras Pty Limited as an approved authority. This change allows employees of the company to either maintain or initiate their membership in the PSS, thereby ensuring they are covered under the superannuation scheme.

Scope and Application

The Superannuation (PSS) Approved Authority Inclusion Amendment Declaration 2000 (No. 1) pertains to the Superannuation Act 1990, which governs the Public Sector Superannuation Scheme (PSS) for Commonwealth employees and certain other individuals. This legislative instrument specifically addresses the inclusion of Queensland Orchestras Pty Limited as an approved authority under the Act, thereby extending eligibility for PSS membership to its employees. The Declaration is made under the authority granted to the Minister for Finance and Administration and follows the definition of "approved authority" provided in section 3 of the 1990 Act. By amending the Principal Declaration through this Statutory Rule, Queensland Orchestras Pty Limited is recognised as a body of a kind described in the definition, enabling its employees to participate in the PSS. The amendment is effective from the date of gazettal and adheres to the disallowable instrument and statutory rule provisions outlined in the Acts Interpretation Act 1901 and the Statutory Rules Publication Act 1903 respectively.

Key Provisions

The Superannuation (PSS) Approved Authority Inclusion Amendment Declaration 2000 (No. 1) (section 3) amends the Superannuation (PSS) Approved Authority Inclusion Declaration by adding Queensland Orchestras Pty Limited, a wholly owned subsidiary of the ABC, to the list of entities recognised as approved authorities under the Superannuation Act 1990 (the 1990 Act). This addition enables employees of Queensland Orchestras Pty Limited to join or continue their membership in the Public Sector Superannuation Scheme (PSS). This inclusion is a direct result of the company being established under the Corporations Law and fitting the criteria outlined in the definition of "approved authority" in section 3 of the 1990 Act. The Superannuation Act 1990 mandates that the Minister for Finance and Administration must declare certain authorities or bodies as approved authorities, allowing their employees to be eligible for the PSS. The 2000 Amendment Declaration thus imposes an obligation on the Minister to officially recognise Queensland Orchestras Pty Limited as an approved authority. This recognition ensures that employees of the company are eligible for the benefits of the PSS, including contributions and pension entitlements as provided under the 1990 Act. The declaration is legally binding and comes into effect on the date of its gazette. Failure to comply with the provisions of the Superannuation Act 1990, including the recognition of approved authorities, may lead to various legal consequences. While the specific penalties are not detailed in the Explanatory Statement, breaches of the Act could result in civil or criminal actions under Australian law. Penalties may include fines, imprisonment, or both, depending on the severity and nature of the breach. The Minister for Finance and Administration is responsible for ensuring that the declaration is correctly implemented and that all eligible entities are recognised as approved authorities to prevent any non-compliance issues. The Superannuation (PSS) Approved Authority Inclusion Amendment Declaration 2000 (No. 1) is a statutory rule and, as such, is subject to disallowance under section 46A of the Acts Interpretation Act 1901. This means that if the Declaration is not tabled in both houses of Parliament within the required period, it will cease to have effect. The Statutory Rules Publication Act 1903 also applies, ensuring that the rules are properly published and accessible to the public, thus maintaining transparency and accountability in the recognition of approved authorities for the PSS.