Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment)
1997 No. 213
EXPLANATORY STATEMENT
STATUTORY RULES 1997 No. 213
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 1990 Act) makes provision for, and in relation to, an occupational superannuation scheme known as the Public Sector Superannuation Scheme (the PS S) for Commonwealth employees and certain other persons.
Persons eligible to contribute under the 1990 Act include persons who are employed under the Public Service Act 1922 or, by an "approved authority". In accordance with paragraph (b) of the definition of "approved authority" in section 3 of the 1990 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 1990 Act, being an authority or body described in the definition. Declarations made under paragraph (b) of the definition of approved authority are contained in the Superannuation (PSS) Approved Authority Inclusion Declaration (the Principal Declaration). .
Section 45 of the 1990 Act provides that such a declaration 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 Nuclear Safety Bureau (NSB) is a body corporate established for a public purpose under the Australian Nuclear Science and Technology Organisation Amendment Act 1992.
NSB is a body of a kind described in paragraph (b) of the definition of "approved authority" in section 3 of the 1990 Act. It is appropriate that the Corporation be declared to be an approved authority for the purposes of the 1990 Act, to enable employees to remain or become members of the PSS.
The Declaration contained in the Statutory Rule and cited as "Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) amends the Principal Declaration by inserting the Nuclear Safety Bureau in the list of bodies declared to be approved authorities for the purposes of the 1990 Act.
The declaration commenced on 1 January 1997. Another instrument (The Superannuation (PSS) Membership Inclusion Declaration (Amendment)) provides membership arrangements for employees who were contributing to the PSS, while employed by NSB, before that day.
Overview
The Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1997 No. 213, issued under the authority of the Minister for Finance, was enacted to address the need to include the Nuclear Safety Bureau (NSB) as an approved authority within the framework of the Superannuation Act 1990. This amendment aimed to facilitate the inclusion of NSB employees in the Public Sector Superannuation Scheme (PSS), thereby ensuring they could contribute to and benefit from the scheme. The amendment was made in response to the NSB being established as a body corporate for a public purpose under the Australian Nuclear Science and Technology Organisation Amendment Act 1992, fitting the criteria specified in the definition of "approved authority" under section 3 of the 1990 Act. The policy objective of this amendment was to align NSB with other eligible entities within the PSS, providing continuity and consistency in superannuation arrangements for its employees.
Scope and Application
The Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1997 No. 213 amends the existing Superannuation (PSS) Approved Authority Inclusion Declaration under the Superannuation Act 1990. This amendment declares the Nuclear Safety Bureau (NSB) to be an approved authority for the purposes of the Act, thereby allowing NSB employees to be eligible to contribute to the Public Sector Superannuation Scheme (PSS). The amendment is a statutory rule and disallowable instrument, which means it can be reviewed and potentially disallowed by the Parliament. It came into effect on 1 January 1997, and aligns with the definitions and provisions set out in the Superannuation Act 1990. The amendment ensures that NSB, being a body established for a public purpose, is recognised as an approved authority, thereby facilitating its employees' inclusion in the PSS. Additionally, another instrument, the Superannuation (PSS) Membership Inclusion Declaration (Amendment), provides for membership arrangements for NSB employees who were already contributing to the PSS prior to the amendment's commencement date.
Key Provisions
The Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1997 No. 213 amends the Superannuation (PSS) Approved Authority Inclusion Declaration, as referenced in section 45 of the Superannuation Act 1990 (1990 Act). This amendment specifically includes the Nuclear Safety Bureau (NSB) as an approved authority for the purposes of the 1990 Act, under the definition of "approved authority" in section 3 (paragraph b). The amendment allows NSB employees to remain or become members of the Public Sector Superannuation Scheme (PSS). This statutory rule was made under the authority of the Minister for Finance and commenced on 1 January 1997.
The obligations and requirements imposed by this Act are primarily focused on the NSB. By being declared an approved authority, NSB must comply with the provisions of the 1990 Act regarding the PSS. This includes ensuring that its employees are eligible to contribute to the scheme, and facilitating the processes required for employees to join or remain in the PSS. The NSB must also ensure that it meets any additional requirements specified by the Minister for Finance in relation to the administration of the PSS.
Under the Superannuation Act 1990, breaches of the provisions related to the PSS can result in both civil and criminal consequences. While the specific offences and penalties are not detailed in this statutory rule, the 1990 Act generally provides for penalties for non-compliance with superannuation requirements. These can include fines and, in more serious cases, imprisonment. The maximum penalties will depend on the nature and severity of the breach, as outlined in the 1990 Act. The NSB, as an approved authority, must therefore ensure strict adherence to the requirements to avoid any potential legal ramifications.