STATUTORY RULES.
1946. No. 121.
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REGULATION UNDER THE SUPERANNUATION ACT 1922-1946.*
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 Regulation under the Superannuation Act 1922-1946.
Dated this seventeenth day of July, 1946.
HENRY
Governor-General.
By His Royal Highness’s Command,
H. P. LAZZARINI
for Treasurer.
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Amendment of the Superannuation Regulations.†
Regulation 15a of the Superannuation Regulations is repealed and the following regulation inserted in its stead:—
Approved authorities.
“15a. The Australian Meat Board constituted under the Meat Export Control Act 1935-1938, the Dried Fruits Control Board constituted under the Dried Fruits Export Control Act 1924-1938, the Australian Canned Fruits Board constituted under the Canned Fruits Export Control Act 1926-1938, the Australian Dairy Produce Board constituted under the Dairy Produce Export Act 1924-1942 and the Australian Wool Realization Commission constituted under the Wool Realization Act 1945 shall be approved authorities for the purposes of the Act”.
* Notified in the Commonwealth Gazette on 18th July, 1946.
† Statutory Rules 1942, No. 540, as amended by Statutory Rules 1948, Nos. 120 and 248; and 1944, No. 181.
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By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.
3368.—Price 3d.
Overview
The Statutory Rules 1946, No. 121, issued under the Superannuation Act 1922-1946, represents a legislative effort to amend existing regulations to facilitate the integration of additional approved authorities within the superannuation framework. Enacted by the Governor-General on the advice of the Federal Executive Council and upon the recommendation of the Superannuation Board, this regulation was introduced to address the need for updating the list of approved authorities that could manage superannuation benefits. The regulation repeals the previous Regulation 15a and inserts a new regulation, specifically recognising several export control boards and commissions as approved authorities. The policy objective underpinning this legislative amendment was to ensure that the superannuation system could accommodate and properly regulate the activities of these additional authorities within the existing legislative structure.
Scope and Application
The Superannuation Regulations 1946, made under the Superannuation Act 1922-1946, apply to specific entities designated as approved authorities for the purposes of the Act. These include the Australian Meat Board, the Dried Fruits Control Board, the Australian Canned Fruits Board, the Australian Dairy Produce Board, and the Australian Wool Realization Commission, all established under various export control acts. The regulations specify these entities as approved authorities, thereby extending their scope to the administration and regulation of superannuation benefits within their respective industries. The application of these regulations is confined to the Commonwealth level, impacting the operations of these boards as they relate to the superannuation provisions outlined in the Act. The geographic reach of these regulations is inherently national, as they pertain to entities operating across Australia. Any exclusions or exemptions are not explicitly stated in the provided excerpt, but the specific designation of approved authorities implies a tailored approach to the application of the superannuation provisions for these particular entities. Furthermore, the regulation allows for the extension or restriction of application through subordinate instruments, thereby providing flexibility in the administration of the superannuation framework as it pertains to these approved authorities.
Key Provisions
The main operative sections of this statutory rule, Regulation 15a, concern the approval of specific authorities to operate within the framework of the Superannuation Act 1922-1946. The regulation specifically identifies and recognises several entities as approved authorities, including the Australian Meat Board, the Dried Fruits Control Board, the Australian Canned Fruits Board, the Australian Dairy Produce Board, and the Australian Wool Realization Commission. These entities are designated as approved authorities for the purposes of the Act (Regulation 15a). This provision effectively authorises these bodies to engage in activities that are aligned with the objectives of the Superannuation Act.
The obligations imposed on the parties governed by this Act include adherence to the regulations set forth within the Superannuation Act 1922-1946. The approved authorities must ensure that their operations comply with the Act's stipulations, which are designed to regulate and oversee superannuation activities. These authorities are expected to manage their functions in a manner that aligns with the broader goals of the Act, including the provision of benefits to employees and the maintenance of financial stability within the superannuation system. Additionally, these entities are required to maintain proper records and provide necessary information to the relevant authorities as stipulated by the Act.
In terms of consequences for breach, the Superannuation Act 1922-1946 includes provisions for both civil and criminal penalties. Civil penalties can include fines and other monetary penalties for non-compliance, while criminal penalties may include imprisonment, depending on the severity of the breach. The specific maximum penalties for breaches are detailed within the Act itself and can vary based on the nature and extent of the non-compliance. It is important for the approved authorities to be fully aware of their obligations under the Act to avoid facing these potential penalties.