Superannuation (PSS) Approved Authority Inclusion Declaration No. 10 1993 No. 123
EXPLANATORY STATEMENT
STATUTORY RULES 1993 No. 123
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 Public Sector Superannuation scheme (the PSS scheme), for persons employed by the Commonwealth and certain other persons.
Persons eligible to contribute under the 1990 Act include certain persons employed 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 body that is declared, in writing, 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.
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 National Training Authority was established on 21 December 1992 by the Australian National Training Authority Act 1992. The Fisheries Research and Development Corporation was established on 2 July 1991 under the Primary Industries and Energy Research and Development Act 1989. They are bodies of the kind described in the definition of approved authority in section 3 of the 1990 Act.
The National Registration Authority for Agricultural and Veterinary Chemicals is to be established by the Agricultural and Veterinary Chemicals (Administration) Act 1992 which will commence on a day to be fixed by proclamation (likely to be mid June) or 6 months and one day after 24 December 1992 (the date of Royal Assent). It will be a body of a kind described in the definition of approved authority in section 3 of the 1990 Act.
It is appropriate that the three bodies be declared to be approved authorities for the purposes of the 1990 Act to enable their 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 No 10, declares the following bodies to be approved authorities for the purposes of the 1990 Act: the Australian National Training Authority, with retrospective effect from 1 March 1993; the Fisheries Research and Development Corporation with effect from the date of gazettal; and the National Registration Authority for Agricultural and Veterinary Chemicals with effect from the date of commencement of the Agricultural and Veterinary Chemicals (Administration) Act 1992.
Overview
The Superannuation (PSS) Approved Authority Inclusion Declaration No. 10 1993 No. 123 was enacted to address the need for certain bodies to be recognised as approved authorities under the Superannuation Act 1990. This Act was established by the Parliament of Australia to facilitate and regulate occupational superannuation schemes, specifically the Public Sector Superannuation scheme (PSS scheme), for employees of the Commonwealth and other eligible entities. The explanatory statement clarifies that certain authorities and bodies can be declared as approved authorities if they meet the criteria outlined in the definition of "approved authority" within section 3 of the 1990 Act. The policy objective of this declaration is to ensure that employees of the Australian National Training Authority, the Fisheries Research and Development Corporation, and the National Registration Authority for Agricultural and Veterinary Chemicals can remain or become members of the PSS scheme, thereby maintaining their access to the benefits provided under the scheme.
Scope and Application
The Superannuation (PSS) Approved Authority Inclusion Declaration No. 10 1993 No. 123 pertains to the inclusion of certain authorities and bodies within the scope of the Superannuation Act 1990. The Act is designed to facilitate the establishment and management of the Public Sector Superannuation (PSS) scheme, which is intended for individuals employed by the Commonwealth and certain other eligible persons. The declaration, issued by the Minister for Finance, serves to formally recognise specific authorities or bodies as approved authorities under the Act, thus allowing their employees to either remain or become members of the PSS scheme. The declared authorities include the Australian National Training Authority, effective from 1 March 1993, the Fisheries Research and Development Corporation, effective from the date of gazettal, and the National Registration Authority for Agricultural and Veterinary Chemicals, effective from the commencement of the Agricultural and Veterinary Chemicals (Administration) Act 1992. This declaration ensures that employees of these authorities can participate in the PSS scheme, thereby maintaining their eligibility for the benefits provided by the Act.
Key Provisions
The Superannuation (PSS) Approved Authority Inclusion Declaration No. 10, issued under the Superannuation Act 1990, designates certain authorities and bodies as approved authorities for the purposes of the Public Sector Superannuation (PSS) scheme. This declaration is significant as it allows employees of these newly recognised authorities to either remain in or join the PSS scheme. Section 3 of the 1990 Act provides the definition for "approved authority," and paragraph (b) of this definition allows the Minister for Finance to declare certain authorities as approved authorities in writing. The declaration under this provision includes the Australian National Training Authority, effective retrospectively from 1 March 1993, the Fisheries Research and Development Corporation, effective from the date of gazettal, and the National Registration Authority for Agricultural and Veterinary Chemicals, effective from the date of commencement of the Agricultural and Veterinary Chemicals (Administration) Act 1992.
This declaration imposes certain obligations on the designated authorities, ensuring that they comply with the requirements of the 1990 Act. As approved authorities, these bodies must now adhere to the provisions of the Act concerning the PSS scheme, including the obligations to contribute to the scheme on behalf of their employees and to manage the superannuation benefits of their staff. The declaration essentially integrates these authorities into the existing framework of the PSS scheme, ensuring that their employees receive the same superannuation benefits as those employed by other approved authorities under the 1990 Act.
The declaration does not itself create new offences or penalties but operates within the broader legal framework of the Superannuation Act 1990. Any failure by the approved authorities to comply with the requirements of the 1990 Act could lead to civil or criminal consequences under that Act. For instance, non-compliance with contribution obligations could result in penalties as specified in the 1990 Act. The Act provides for various enforcement mechanisms, including fines and potential criminal charges for serious breaches, although the specific penalties are detailed within the 1990 Act rather than the declaration itself.