EXPLANATORY STATEMENT
Select Legislative Instrument 2005 No. 336
Issued by authority of the Minister for Revenue
and Assistant Treasurer
Superannuation (Resolution of Complaints) Act 1993
Superannuation (Resolution of Complaints) Amendment Regulations 2005 (No. 1)
Section 68 of the Superannuation (Resolution of Complaints) Act 1993 (the Act) provides that the Governor-General may make regulations prescribing matters required or permitted by the Act to be prescribed, or necessary or convenient to be prescribed for carrying out or giving effect to the Act.
The purpose of the Regulations is to update the list of unfunded defined benefit superannuation schemes that are prescribed in the Superannuation (Resolution of Complaints) Regulations 1994 (the Principal Regulations).
Schedule 1 to the Principal Regulations contains a list of unfunded defined benefit superannuation schemes which have elected to be subject to the Superannuation Complaints Tribunal’s jurisdiction. Due to a change in the superannuation arrangements for public servants in Western Australia, there is a need to update the list. The regulations replace the current listing for Western Australia with the schemes established by or under the State Superannuation Act 2000 of Western Australia, including the schemes continued by section 29 of that Act. This section lists schemes that were provided for in the Government Employees Superannuation Act 1987 and the Superannuation and Family Benefits Act 1938 that have now become superannuation schemes under the State Superannuation Act 2000.
The Regulations commenced on the day after registration on the Federal Register of Legislative Instruments.