STATUTORY RULES.
1943. No. 120.
REGULATIONS UNDER THE SUPERANNUATION ACT 1922-1943.*
I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, and on the recommendation of the Superannuation Board, hereby make the following Regulations under the Superannuation Act 1922-1943.
Dated this fifth day of May, 1943.
Governor-General.
By His Excellency’s Command,
for Treasurer.
Amendments of the Superannuation Regulations.†
1. After regulation 6 of the Superannuation Regulations, the following regulation is inserted:—
Election under section 13 (4b.)
“6a.—(1.) The time within which a contributor to whom subsection (4b.) of section 13 of the Act applies, may elect to increase the amount of his contribution in accordance with that sub-section shall be twelve months from the date of commencement of the Superannuation Act 1943.
(2.) The time within which such a contributor must satisfy the Board that he is not suffering from any physical or mental defect likely to render him incapable of performing his duties before attaining the maximum age for retirement shall be six months from the date of his election.”.
2. After regulation 15 of the Superannuation Regulations the following regulation is inserted:—
Approved authorities.
“15a. The Australian Meat Board constituted under the Meat Export Control Act 1935-1938 and the Dried Fruits Control Board constituted under the Dried Fruits Export Control Act 1924-1938, shall be approved authorities for the purposes of the Act.”.
* Notified in the Commonwealth Gazette on , 1943
† Statutory Rules 1942, No. 549.
By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.
2273.—Price 3d. 25/8.4.1943.
Overview
The Superannuation Regulations 1943 were enacted under the authority of the Superannuation Act 1922-1943 by the Governor-General, acting on advice from the Federal Executive Council and the Superannuation Board. The primary purpose of these regulations was to amend existing superannuation regulations to provide clarity and additional provisions for contributors, particularly those who wished to increase their contributions and those who were subject to specific health criteria affecting their eligibility for superannuation benefits. The regulations introduced new time frames for contributors to elect to increase their contributions and to satisfy the Board of their fitness to perform duties before reaching retirement age. Additionally, they designated the Australian Meat Board and the Dried Fruits Control Board as approved authorities under the Act. These amendments aimed to ensure a more structured and regulated approach to superannuation contributions, reflecting the evolving needs of contributors and the administrative requirements of the time.
Scope and Application
The Superannuation Regulations 1943, made under the Superannuation Act 1922-1943, apply to contributors to superannuation schemes and the entities administering these schemes within the Commonwealth of Australia. The regulations introduce specific timeframes for contributors to make certain decisions, such as electing to increase their contributions and satisfying the Superannuation Board of their fitness to work until the maximum retirement age. Additionally, the regulations recognise the Australian Meat Board and the Dried Fruits Control Board as approved authorities for the purposes of the Act, thereby extending the application of the Act to these entities. The scope of the Act is thus expanded to include these additional entities and their contributors, reinforcing the Act's regulatory reach over superannuation practices within the Commonwealth. The regulations also incorporate amendments that refine the operational details of the Act, ensuring that the legislative intent is effectively translated into practice.
Key Provisions
The Superannuation Regulations (1943) introduce several key provisions under the Superannuation Act 1922-1943, primarily focusing on the timing and conditions for contributors to elect to increase their contributions and the approval of certain authorities. Regulation 6a(1) stipulates that a contributor has twelve months from the commencement of the Superannuation Act 1943 to elect to increase their contribution amount under section 13(4b) of the Act. Regulation 6a(2) further requires that within six months of making such an election, the contributor must provide evidence to the Superannuation Board that they are not suffering from any physical or mental defect that would impede their ability to perform their duties until they reach the retirement age.
The Regulations also impose certain obligations on contributors. For example, under regulation 6a, contributors must act within a specified timeframe to elect to increase their contributions and must subsequently demonstrate their fitness to continue working. These provisions ensure that contributors are aware of the deadlines and requirements for making such decisions and that they remain capable of performing their roles up to the retirement age. Additionally, regulation 15a establishes the Australian Meat Board and the Dried Fruits Control Board as approved authorities under the Act. This means that these bodies are recognised by the Superannuation Board for specific purposes, potentially affecting their involvement in superannuation schemes or related activities.
Failure to comply with the requirements set out in these Regulations may result in various consequences. While the specific penalties are not detailed in the text, breaches of superannuation regulations can generally lead to civil or criminal penalties. These may include fines, imprisonment, or other administrative actions depending on the severity and nature of the breach. The precise penalties would typically be determined by the courts or regulatory authorities, but the inclusion of such regulations highlights the importance of adhering to the stipulated timelines and conditions to avoid potential legal repercussions.