Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1995 No. 283
EXPLANATORY STATEMENT
STATUTORY RULES 1995 No. 283
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 (the PSS) 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, as well as persons who are employed by an "approved authority". In accordance with paragraph (b) of the definition of "approved authority" in section 3 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. 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 Australian Maritime Safety Authority Act 1990 (the AMSA Act) established the Australian Maritime Safety Authority (AMSA) as a statutory authority. Prior to 27 July 1995, section 55 of the AMSA Act provided that AMSA staff were employed under the Public Service Act 1922. However, on 27 July 1995, the Transport Legislation Amendment Act 1995 amended the AMSA Act by repealing section 55 of that Act and substituting a section which provides that staff of AMSA are employed under the AMSA Act. Persons employed by AMSA immediately before 27 July 1995 and new employees of AMSA will be employed under AMSA's own terms and conditions.
AMSA is a body of a kind described in the definition of approved authority in section 3 of the 1990 Act. It is appropriate that AMSA 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 scheme.
The declaration contained in the Statutory Rule, and cited as "Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment)" amends the Principal Declaration by inserting AMSA in the list of bodies declared to be approved authorities for the purposes of the 1990 Act.
The Declaration commenced on 27 July 1995.
Overview
The Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1995 No. 283 was enacted to address the need for the Australian Maritime Safety Authority (AMSA) to be recognised as an approved authority under the Superannuation Act 1990, enabling its employees to remain or become members of the Public Service Superannuation Scheme. The enactment was issued by the authority of the Minister for Finance and is a Statutory Rule under the Statutory Rules Publication Act 1903. The policy objective of this amendment is to ensure continuity of superannuation scheme membership for AMSA employees following the legislative change in their employment terms from the Public Service Act 1922 to the Australian Maritime Safety Authority Act 1990. The amendment to the Principal Declaration, which commenced on 27 July 1995, aligns with the definition of an approved authority in section 3 of the 1990 Act and allows AMSA to be included in the list of bodies eligible for such a declaration.
Scope and Application
The Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1995 No. 283 is a statutory rule that amends the existing Principal Declaration under the Superannuation Act 1990, specifically updating the list of approved authorities eligible to participate in the Public Sector Superannuation Scheme (PSS). This amendment is necessitated by the Transport Legislation Amendment Act 1995, which altered the employment conditions of Australian Maritime Safety Authority (AMSA) staff. The Act applies to persons employed by AMSA, both those employed before the amendment took effect on 27 July 1995 and new employees hired thereafter, who now fall under the AMSA Act’s terms and conditions. This amendment ensures that AMSA employees remain eligible to contribute to and benefit from the PSS, aligning with the broader intent of the Superannuation Act 1990. The amendment is a disallowable instrument under the Acts Interpretation Act 1901 and is published as a Statutory Rule under the Statutory Rules Publication Act 1903.
Key Provisions
The primary operative sections of the Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1995 No. 283 involve the amendment of the Superannuation (PSS) Approved Authority Inclusion Declaration. This amendment adds the Australian Maritime Safety Authority (AMSA) to the list of approved authorities under section 3 of the Superannuation Act 1990 (the 1990 Act). Specifically, this means that AMSA is now recognised as an entity whose employees can participate in the Public Sector Superannuation (PSS) scheme, which is overseen by the 1990 Act. This inclusion ensures that employees of AMSA are covered by the PSS scheme, maintaining their eligibility to contribute and benefit from superannuation arrangements.
The Act imposes several obligations on AMSA and its employees. AMSA, as an approved authority, must ensure that its employees who are members of the PSS scheme adhere to all the rules and regulations governing the scheme. This includes complying with the requirements for superannuation contributions, maintaining accurate records, and providing necessary information to the relevant authorities as required by the 1990 Act. Employees, on the other hand, are required to contribute to the PSS scheme as stipulated by the Act and to ensure that they meet any other conditions necessary for their participation in the scheme.
Breaches of the provisions set out in the Superannuation Act 1990 and related regulations can lead to various consequences. For example, failure to make required superannuation contributions can result in civil penalties. According to the 1990 Act, the amount of the penalty is determined by the Commissioner of Taxation and can be significant, often calculated as a percentage of the shortfall in contributions. Additionally, criminal penalties may apply in cases of fraudulent or willful misconduct, where individuals can face fines and even imprisonment. These penalties serve as deterrents to non-compliance and ensure adherence to the superannuation scheme's requirements.