Statutory Rules 1981 No. 41
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Superannuation (Transfer Arrangements)
Regulations2 (Amendment)
I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Superannuation Act 1976.
Dated 21 January 1981.
ZELMAN COWEN
Governor-General
By His Excellency’s Command,
MARGARET GUILFOYLE
Minister of State for Finance
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Commencement
1. These Regulations shall come into operation on 1 February 1981.
2. The Superannuation (Transfer Arrangements) Regulations are amended by inserting after regulation 5 the following regulation:
Application of Act to certain employees of Anglo-Australian Telescope Board
“6. The Act and the provisions of the Act specified in Schedule 3 apply subject to the modifications specified in Schedule 3 to and in relation to those persons to whom section 126 of the Act applies who—
(a) become, on 1 February 1981, eligible employees;
(b) are, on that day, employed by the Anglo-Australian Telescope Board; and
(c) were, immediately before so becoming eligible employees, members of the superannuation scheme known as the Anglo-Australian Telescope Project Staff Superannuation Fund.”.
Schedule 1
3. Schedule 1 to the Superannuation (Transfer Arrangements) Regulations is amended by omitting “this provision” from the modification specified in relation to section 127 and substituting “this Division”.
Schedule 3
4. The Superannuation (Transfer Arrangements) Regulations are amended by adding at the end thereof the following Schedule:
SCHEDULE 3 Regulation 6
MODIFICATIONS—CERTAIN EMPLOYEES OF THE
ANGLO-AUSTRALIAN TELESCOPE BOARD
| Modifications |
Section | |
127 | Insert after sub-section (1) the following sub-section: “(1C) In the application of this Division to and in relation to a person who— (a) becomes an eligible employee on 1 February 1981; (b) is, on that day, employed by the Anglo-Australian Telescope Board; and (c) was, immediately before so becoming an eligible employee, a member of the superannuation scheme known as the Anglo-Australian Telescope Project Staff Superannuation Fund, his employment by the Anglo-Australian Telescope Board before becoming an eligible employee shall be deemed to have been terminated on 31 January 1981 otherwise than on the ground of validity or of physical or mental incapacity to perform the duties of his employment.” |
128 | Omit sub-section (5). Insert before sub-section (6) the following sub-sections: “(5D) Upon an eligible employee referred to in sub-section 127 (1C) ceasing to be an eligible employee or, if he ceases to be an eligible employee on more than one occasion, upon his first ceasing to be an eligible employee, there shall be added to the period that, but for this sub‑section, would be his period of contributory service a period equal to— (a) the period that is the quotient, expressed in years and fractions of a year, of the number of whole dollars contained in the employer component of the transfer value payable under the Anglo-Australian Telescope Project Staff Superannuation Fund in respect of the eligible employee divided by the number of whole dollars contained in the amount that is equal to 12½ per cent of the annual rate of salary of the employee on 1 February 1981; or (b) the period during which the eligible employee was a member of the Anglo-Australian Telescope Project Staff Superannuation Fund, whichever is the lesser period. “(5E) Where an eligible employee referred to in sub-section 127 (1C) is on leave of absence without pay on 1 February 1981, a reference in sub-section (5D) to the annual rate of salary of the eligible employee on that date shall be read as a reference to the annual rate of salary that would have been payable to the employee on that date if the employee had not been on leave.”. |
130 | Omit the section. |
145 | Omit the section. |
NOTES
1. Notified in the Commonwealth of Australia Gazette on 29 January 1981.
2. Statutory Rules 1978 No. 255 as amended by 1980 No. 257.
Overview
The Superannuation (Transfer Arrangements) Regulations 1981 (Amendment) were enacted to address the specific needs of employees transitioning within the framework of the Superannuation Act 1976. This legislative instrument was made by the Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, and came into effect on 1 February 1981. The primary objective of this amendment was to ensure that the provisions of the Act applied appropriately to certain employees of the Anglo-Australian Telescope Board, particularly those who became eligible employees on 1 February 1981 and had been members of the Anglo-Australian Telescope Project Staff Superannuation Fund. The regulation introduced modifications to existing provisions to accommodate these employees, ensuring continuity in their superannuation arrangements.
Scope and Application
The Superannuation (Transfer Arrangements) Regulations 1981 (Amendment) amend the Superannuation (Transfer Arrangements) Regulations to specifically address the transfer of superannuation benefits for certain employees of the Anglo-Australian Telescope Board. These Regulations apply to individuals who, as of 1 February 1981, are deemed eligible employees, are employed by the Anglo-Australian Telescope Board, and were members of the Anglo-Australian Telescope Project Staff Superannuation Fund immediately before becoming eligible employees. The amendment introduces modifications to the original regulations to cater to this specific group, including provisions that deem the employment of these individuals to have been terminated before the effective date of the amendment, and provisions that determine how their contributory service period is calculated for the purposes of their superannuation benefits. These Regulations are a Commonwealth instrument, extending their application across the nation, and while they are specific in their amendments, they do not exclude other provisions of the Superannuation Act 1976 from applying to the broader context of superannuation transfers.
Key Provisions
The key operative sections of these regulations pertain to the modification of existing superannuation arrangements for certain employees of the Anglo-Australian Telescope Board. Specifically, Regulation 6 (referenced in section 2) introduces modifications to the Act and its provisions, as detailed in Schedule 3, applying to employees who become eligible on 1 February 1981, are employed by the Board on that date, and were members of the Anglo-Australian Telescope Project Staff Superannuation Fund immediately before becoming eligible. The regulations further modify the application of certain sections of the Act to these employees by deeming their employment to have terminated on 31 January 1981, unless for reasons of validity or incapacity (section 127, as amended in Schedule 1). Additionally, new subsections are added to section 128, detailing how periods of service are to be calculated upon an employee ceasing to be eligible, based on the transfer value of their superannuation (section 128, as amended in Schedule 3).
The obligations imposed by these regulations on the involved parties, particularly the Anglo-Australian Telescope Board and the employees, include ensuring that the terms of the modified superannuation arrangements are adhered to. The Board must ensure that employees who meet the criteria specified in Regulation 6 are correctly identified and that their employment status and service periods are accurately calculated according to the new provisions. Employees must comply with the conditions set forth regarding their superannuation entitlements, including understanding how their periods of service are to be calculated and the implications of ceasing to be eligible employees.
The regulations also establish potential consequences for non-compliance. While the specific offences, penalties, or civil and criminal consequences for breach are not detailed within the text provided, it is implied that adherence to the modified superannuation arrangements is mandatory. Breach of these regulations could potentially lead to legal repercussions, including fines or other penalties as prescribed by the Superannuation Act 1976 or related legislation. The exact nature and extent of these penalties would be determined by the applicable laws and any subsequent amendments or interpretations by the courts.