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SUPERANNUATION BILL 2005

2004-2005
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Superannuation Bill 2005
No. , 2005
(Finance and Administration)
A Bill for an Act about the Public Sector
Superannuation Accumulation Plan (PSSAP), and
for related purposes
i Superannuation Bill 2005 No. , 2005
Contents
Part 1--Introduction
1
1
Short title.......................................................................................1
2
Commencement .............................................................................2
3
Simplified outline ..........................................................................2
4
Definitions.....................................................................................3
5
Public sector employees .................................................................4
6
Extended meaning of employed ......................................................5
7
Statutory offices.............................................................................6
8
Approved authorities......................................................................7
9
Application of Act..........................................................................9
Part 2--The Trust Deed
10
10
Deed to establish PSSAP etc.........................................................10
11
Amendment of Trust Deed ...........................................................10
12
Family law interest splitting .........................................................11
Part 3--Members of Public Sector Superannuation
Accumulation Plan (PSSAP)
12
13
Eligibility for membership of PSSAP............................................12
14
Becoming a member of PSSAP ....................................................13
15
Duration of membership of PSSAP...............................................15
16
PSSAP is the sole eligible choice fund in relation to APS
employees etc. for certain purposes...............................................16
Part 4--Contributions
17
17
Contributions to PSSAP by designated employers .........................17
18
Ordinary employer-sponsored member of PSSAP .........................17
19
Designated employers ..................................................................19
Part 5--Administration
22
Division 1--The Board
22
20
Functions and powers...................................................................22
21
Trustee Act of ACT to apply ........................................................22
22
Exemption from taxation..............................................................22
23
Banking.......................................................................................23
24
Accounting records ......................................................................23
25
Audit ...........................................................................................23
26
Annual report and financial statements..........................................24
27
Money in the PSSAP Fund is not public money etc. ......................26
28
Delegation by Board ....................................................................26
Superannuation Bill 2005 No. , 2005 ii
29
Indemnification of trustees etc......................................................27
Division 2--Commissioner for Superannuation
29
30
Functions of Commissioner for Superannuation ............................29
31
Other functions of Commissioner for Superannuation not to
be prejudiced ...............................................................................29
Division 3--Ministerial powers
30
32
Making of certain legislative instruments......................................30
33
Delegation by Minister.................................................................30
Division 4--Costs of administration
32
34
Costs of administration of Act etc.................................................32
35
Estimates .....................................................................................32
36
Certain authorities to pay part of estimated costs of
administration..............................................................................33
37
Payment of fees ...........................................................................33
38
Board liable to pay surcharge under the Superannuation
Contributions Tax (Assessment and Collection) Act 1997 ..............34
Division 5--Other administrative matters
35
39
Amounts payable to the Board......................................................35
40
Recovery of overpayments ...........................................................35
41
Board may rely on information supplied by employers or
former employers.........................................................................35
42
Board may require employers to distribute information etc.
to members of PSSAP ..................................................................36
Part 6--Miscellaneous
37
43
Ordinary employer-sponsored member not to be retired on
grounds of invalidity without Board certificate..............................37
44
Persons subject to Rules ...............................................................37
45
Regulations..................................................................................38
46
Regulations relating to the operation of the Superannuation
Industry (Supervision) Act 1993 and certain other laws..................38
Superannuation Bill 2005 No. , 2005 1
A Bill for an Act about the Public Sector
1
Superannuation Accumulation Plan (PSSAP), and
2
for related purposes
3
The Parliament of Australia enacts:
4
Part 1--Introduction
5
6
1 Short title
7
This Act may be cited as the Superannuation Act 2005.
8
Part 1 Introduction
Section 2
2 Superannuation Bill 2005 No. , 2005
2 Commencement
1
(1) Each provision of this Act specified in column 1 of the table
2
commences, or is taken to have commenced, in accordance with
3
column 2 of the table. Any other statement in column 2 has effect
4
according to its terms.
5
6
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 and
2 and anything in
this Act not
elsewhere covered
by this table
The day on which this Act receives the
Royal Assent.
2. Sections 3 to
46
The later of:
(a) the day on which this Act receives the
Royal Assent; and
(b) the day on which the Superannuation
(Consequential Amendments) Act 2005
receives the Royal Assent.
However, the provision(s) do not commence
at all if the event mentioned in paragraph (b)
does not occur.
Note:
This table relates only to the provisions of this Act as originally
7
passed by the Parliament and assented to. It will not be expanded to
8
deal with provisions inserted in this Act after assent.
9
(2) Column 3 of the table contains additional information that is not
10
part of this Act. Information in this column may be added to or
11
edited in any published version of this Act.
12
3 Simplified outline
13
The following is a simplified outline of this Act:
14
·
This Act provides for a superannuation scheme, to be known
15
as the Public Sector Superannuation Accumulation Plan
16
(PSSAP).
17
Introduction Part 1
Section 4
Superannuation Bill 2005 No. , 2005 3
·
Generally, a person is eligible to become a member of PSSAP
1
if he or she is a public sector employee who starts work on or
2
after 1 July 2005.
3
·
Generally, if a person is eligible to become a member of
4
PSSAP, he or she becomes a member if:
5
(a)
he or she chooses to become a member; or
6
(b)
PSSAP is his or her mandated fund.
7
·
A person's membership of PSSAP continues until the
8
occasion, or the last of the occasions, on which a benefit is
9
paid to or in respect of the member.
10
·
Employers must pay contributions to PSSAP for the benefit of
11
ordinary employer-sponsored members of PSSAP.
12
·
The PSS Board is responsible for PSSAP.
13
4 Definitions
14
In this Act:
15
approved authority has the meaning given by section 8.
16
basic employer contribution has the same meaning as in the Rules.
17
Board has the same meaning as in the Superannuation Act 1990.
18
designated employer has the meaning given by section 19.
19
employed has a meaning affected by section 6.
20
exempt overseas employee has the meaning given by subsection
21
5(2).
22
invalidity, in relation to a person, means the person's inability,
23
because of any mental or physical condition, to perform the duties
24
of his or her employment or office.
25
modifications includes additions, omissions and substitutions.
26
Part 1 Introduction
Section 5
4 Superannuation Bill 2005 No. , 2005
ordinary employer-sponsored member of PSSAP has the meaning
1
given by section 18.
2
Parliamentary Department means a Department of the Parliament.
3
PSS means the Public Sector Superannuation Scheme within the
4
meaning of the Superannuation Act 1990.
5
PSSAP: see Public Sector Superannuation Accumulation Plan.
6
PSSAP Fund means the fund established, and vested in the Board,
7
by the Trust Deed.
8
PSS Fund has the same meaning as in the Superannuation Act
9
1990.
10
public sector employee has the meaning given by section 5.
11
Public Sector Superannuation Accumulation Plan or PSSAP
12
means the superannuation scheme established by the Trust Deed.
13
Rules means the Rules for the administration of PSSAP set out in
14
the Schedule to the Trust Deed.
15
statutory office has the meaning given by section 7.
16
Trust Deed means:
17
(a) the deed referred to in section 10; or
18
(b) if the deed is amended--the deed as so amended.
19
trustee has the same meaning as in the Superannuation Act 1990.
20
5 Public sector employees
21
(1) For the purposes of this Act, a person is a public sector employee
22
if, and only if, the person is:
23
(a) either:
24
(i) employed by the Commonwealth or an approved
25
authority; or
26
(ii) the holder of a statutory office; and
27
(b) not an exempt overseas employee.
28
Introduction Part 1
Section 6
Superannuation Bill 2005 No. , 2005 5
(2) For the purposes of this Act, a person is an exempt overseas
1
employee if the person is:
2
(a) engaged or appointed for employment outside Australia only;
3
and
4
(b) not specified in a written declaration made by the Minister
5
under this paragraph.
6
Note:
For specification by class, see subsection 13(3) of the Legislative
7
Instruments Act 2003.
8
Declarations
9
(3) A declaration under paragraph (2)(b) is a legislative instrument for
10
the purposes of the Legislative Instruments Act 2003.
11
(4) Despite anything in section 44 of the Legislative Instruments Act
12
2003, section 42 of that Act applies to a declaration under
13
paragraph (2)(b) of this section.
14
(5) A declaration under paragraph (2)(b) may be expressed to have
15
taken effect on a day not earlier than 12 months before the making
16
of the declaration.
17
(6) If:
18
(a) a declaration is made under paragraph (2)(b); and
19
(b) before the start of the 12-month period ending immediately
20
before the making of the declaration, basic employer
21
contributions were accepted or purportedly accepted in
22
respect of a person to whom the declaration relates;
23
the declaration may be expressed to have taken effect on a day not
24
earlier than the earliest day on which those contributions were
25
accepted or purportedly accepted.
26
6 Extended meaning of employed
27
Directors of companies and other bodies corporate
28
(1) For the purposes of this Act, if:
29
(a) a person is a full-time director of a company or other body
30
corporate; and
31
(b) the company or other body is an approved authority; and
32
Part 1 Introduction
Section 7
6 Superannuation Bill 2005 No. , 2005
(c) the company or other body is incorporated under a law of the
1
Commonwealth or of a State or Territory; and
2
(d) the person is not specified in a written declaration made by
3
the Minister under this paragraph;
4
the person is employed by the company or other body.
5
Note:
For specification by class, see subsection 13(3) of the Legislative
6
Instruments Act 2003.
7
(2) The Minister may, by writing, declare that, for the purposes of this
8
Act, a specified person is employed by a company or other body
9
corporate, so long as:
10
(a) the person is a director of the company or other body; and
11
(b) the person is not a full-time director of the company or other
12
body; and
13
(c) the company or other body is an approved authority; and
14
(d) the company or other body is incorporated under a law of the
15
Commonwealth or of a State or Territory.
16
Note:
For specification by class, see subsection 13(3) of the Legislative
17
Instruments Act 2003.
18
Declarations
19
(3) A declaration under paragraph (1)(d) or subsection (2) is a
20
legislative instrument for the purposes of the Legislative
21
Instruments Act 2003.
22
(4) Despite anything in section 44 of the Legislative Instruments Act
23
2003, section 42 of that Act applies to a declaration under
24
paragraph (1)(d) or subsection (2) of this section.
25
7 Statutory offices
26
(1) For the purposes of this Act, a statutory office is:
27
(a) an office established by or under:
28
(i) an Act; or
29
(ii) regulations made under an Act; or
30
(iii) a law of a Territory; or
31
(b) an office specified in a written declaration made by the
32
Minister under this paragraph.
33
Introduction Part 1
Section 8
Superannuation Bill 2005 No. , 2005 7
Note:
For specification by class, see subsection 13(3) of the Legislative
1
Instruments Act 2003.
2
Declarations
3
(2) A declaration under paragraph (1)(b) is a legislative instrument for
4
the purposes of the Legislative Instruments Act 2003.
5
(3) Despite anything in section 44 of the Legislative Instruments Act
6
2003, section 42 of that Act applies to a declaration under
7
paragraph (1)(b) of this section.
8
(4) A declaration under paragraph (1)(b) may be expressed to have
9
taken effect on a day not earlier than 12 months before the making
10
of the declaration.
11
(5) If:
12
(a) a declaration is made under paragraph (1)(b); and
13
(b) before the start of the 12-month period ending immediately
14
before the making of the declaration, basic employer
15
contributions were accepted or purportedly accepted in
16
respect of a holder of the office to whom the declaration
17
relates;
18
the declaration may be expressed to have taken effect on a day not
19
earlier than the earliest day on which those contributions were
20
accepted or purportedly accepted.
21
8 Approved authorities
22
(1) This section sets out the 2 situations in which an authority or body
23
is an approved authority for the purposes of this Act.
24
Approved authorities under the Superannuation Act 1990
25
(2) An authority or body is an approved authority if:
26
(a) the authority or body was, at the end of 30 June 2005, an
27
approved authority for the purposes of the Superannuation
28
Act 1990; and
29
(b) the authority or body is not specified in a written declaration
30
made by the Minister under this paragraph.
31
Note:
For specification by class, see subsection 13(3) of the Legislative
32
Instruments Act 2003.
33
Part 1 Introduction
Section 8
8 Superannuation Bill 2005 No. , 2005
Ministerial declarations
1
(3) The Minister may, by writing, declare that an authority or body is
2
an approved authority for the purposes of this Act, so long as the
3
authority or body is:
4
(a) a body corporate incorporated for a public purpose by:
5
(i) an Act; or
6
(ii) regulations made under an Act; or
7
(iii) a law of a Territory; or
8
(b) an authority or body (other than a body corporate)
9
established for a public purpose by or under:
10
(i) an Act; or
11
(ii) regulations made under an Act; or
12
(iii) a law of a Territory; or
13
(c) a company or other body corporate:
14
(i) that is incorporated under an Act or a law of a State or
15
Territory; and
16
(ii) in which the Commonwealth has a controlling interest;
17
or
18
(d) an authority or body that is wholly or substantially financed
19
(whether directly or indirectly) by money provided by the
20
Commonwealth; or
21
(e) a company or other body corporate incorporated under an
22
Act or a law of a State or Territory, where:
23
(i) an authority or body covered by paragraph (a), (b), (c)
24
or (d), or that is an approved authority because of
25
subsection (2), has a controlling interest in the company
26
or body; or
27
(ii) the Commonwealth and one, or more than one, such
28
authority or body together have a controlling interest in
29
the company or body; or
30
(iii) 2 or more such authorities or bodies together have a
31
controlling interest in the company or body.
32
(4) The Minister must not declare an authority or body to be an
33
approved authority under subsection (3) if the authority or body is
34
an approved authority because of subsection (2).
35
Introduction Part 1
Section 9
Superannuation Bill 2005 No. , 2005 9
Declarations
1
(5) A declaration under paragraph (2)(b) or subsection (3) is a
2
legislative instrument for the purposes of the Legislative
3
Instruments Act 2003.
4
(6) Despite anything in section 44 of the Legislative Instruments Act
5
2003, section 42 of that Act applies to a declaration under
6
paragraph (2)(b) or subsection (3) of this section.
7
(7) A declaration under subsection (3) may be expressed to have taken
8
effect on a day not earlier than 12 months before the making of the
9
declaration.
10
9 Application of Act
11
This Act applies both within and outside Australia.
12
Part 2 The Trust Deed
Section 10
10 Superannuation Bill 2005 No. , 2005
1
Part 2--The Trust Deed
2
3
10 Deed to establish PSSAP etc.
4
(1) Before 1 July 2005, the Minister must, for and on behalf of the
5
Commonwealth, by deed:
6
(a) establish a superannuation scheme that:
7
(i) is to be known as the Public Sector Superannuation
8
Accumulation Plan; and
9
(ii) may also be known as PSSAP; and
10
(iii) is for the benefit of persons who will be members of
11
PSSAP; and
12
(b) establish, and vest in the Board, a fund for the purposes of
13
PSSAP; and
14
(c) set out the functions and powers of the Board in relation to
15
PSSAP and the PSSAP Fund.
16
(2) The deed under subsection (1) is a legislative instrument for the
17
purposes of the Legislative Instruments Act 2003, but section 42 of
18
that Act does not apply to the deed.
19
11 Amendment of Trust Deed
20
(1) The Minister may, by writing, amend the Trust Deed.
21
(2) If compliance with a provision of the Trust Deed as amended under
22
subsection (1) would have the effect that PSSAP:
23
(a) would not be a regulated superannuation fund within the
24
meaning of the Superannuation Industry (Supervision) Act
25
1993; or
26
(b) would not comply with that Act;
27
that provision is invalid.
28
(3) An instrument under subsection (1) is a legislative instrument for
29
the purposes of the Legislative Instruments Act 2003.
30
The Trust Deed Part 2
Section 12
Superannuation Bill 2005 No. , 2005 11
(4) Despite anything in section 44 of the Legislative Instruments Act
1
2003, section 42 of that Act applies to an instrument under
2
subsection (1) of this section.
3
12 Family law interest splitting
4
(1) Without limiting section 10 or 11, the Rules:
5
(a) may provide that, when a splitting agreement or splitting
6
order is received by the Board in respect of a superannuation
7
interest under this Act:
8
(i) the non-member spouse is entitled to benefits
9
determined in accordance with the Rules; and
10
(ii) the benefits of the member spouse are reduced in
11
accordance with the Rules; and
12
(b) may include any other provision that is related to, or
13
consequential on, provisions referred to in paragraph (a).
14
(2) In this section:
15
member spouse has the same meaning as in Part VIIIB of the
16
Family Law Act 1975.
17
non-member spouse has the same meaning as in Part VIIIB of the
18
Family Law Act 1975.
19
splitting agreement means:
20
(a) a superannuation agreement (within the meaning of
21
Part VIIIB of the Family Law Act 1975); or
22
(b) a flag lifting agreement (within the meaning of Part VIIIB of
23
the Family Law Act 1975) that provides for a payment split
24
(within the meaning of Part VIIIB of the Family Law Act
25
1975).
26
splitting order has the same meaning as in Part VIIIB of the
27
Family Law Act 1975.
28
superannuation interest has the same meaning as in Part VIIIB of
29
the Family Law Act 1975.
30
Part 3 Members of Public Sector Superannuation Accumulation Plan (PSSAP)
Section 13
12 Superannuation Bill 2005 No. , 2005
1
Part 3--Members of Public Sector Superannuation
2
Accumulation Plan (PSSAP)
3
4
13 Eligibility for membership of PSSAP
5
(1) Subject to subsections (2) and (3), a person is eligible to become a
6
member of PSSAP if the person is:
7
(a) a public sector employee; or
8
(b) specified in a written declaration made by the Minister under
9
this paragraph.
10
Note:
For specification by class, see subsection 13(3) of the Legislative
11
Instruments Act 2003.
12
(2) A person is not eligible to become a member of PSSAP if:
13
(a) the person is a member of PSS; or
14
(b) the person is a former member of PSS in respect of whom a
15
preserved benefit under PSS has not yet been paid; or
16
(c) the person is a PSS invalidity pensioner (within the meaning
17
of the Superannuation Act 1990); or
18
(d) the person is entitled to make an election under section 7 or 8
19
of the Superannuation Act 1990 that would result in the
20
person becoming a member of PSS; or
21
(e) the person is an eligible employee for the purposes of the
22
Superannuation Act 1976; or
23
(f) the person is a person to whom the Judges' Pensions Act
24
1968 applies; or
25
(g) the person is covered by paragraph 6(2)(ba) of the
26
Superannuation Act 1990; or
27
(h) the person is specified in a written declaration made by the
28
Minister under this paragraph.
29
Note:
For specification by class, see subsection 13(3) of the Legislative
30
Instruments Act 2003.
31
(3) A person is not eligible to become a member of PSSAP before
32
1 July 2005.
33
Members of Public Sector Superannuation Accumulation Plan (PSSAP) Part 3
Section 14
Superannuation Bill 2005 No. , 2005 13
Declarations
1
(4) A declaration under paragraph (1)(b) or (2)(h) is a legislative
2
instrument for the purposes of the Legislative Instruments Act
3
2003.
4
(5) Despite anything in section 44 of the Legislative Instruments Act
5
2003, section 42 of that Act applies to a declaration under
6
paragraph (1)(b) or (2)(h) of this section.
7
(6) A declaration under paragraph (1)(b) may be expressed to have
8
taken effect on a day not earlier than 12 months before the making
9
of the declaration.
10
(7) If:
11
(a) a declaration is made under paragraph (1)(b); and
12
(b) before the start of the 12-month period ending immediately
13
before the making of the declaration, basic employer
14
contributions were accepted or purportedly accepted in
15
respect of a person to whom the declaration relates;
16
the declaration may be expressed to have taken effect on a day not
17
earlier than the earliest day on which those contributions were
18
accepted or purportedly accepted.
19
14 Becoming a member of PSSAP
20
(1) This section sets out the 2 situations in which a person can become
21
a member of PSSAP.
22
Choice to become a member
23
(2) If a person is eligible to become a member of PSSAP, the person
24
may, in a manner approved by the Board in writing under this
25
subsection, choose to become a member of PSSAP.
26
(3) The effect of making a choice under subsection (2) is that the
27
person becomes a member of PSSAP when the choice is made.
28
PSSAP is the person's mandated fund
29
(4) Subject to subsections (5) and (6), if:
30
(a) at a particular time:
31
Part 3 Members of Public Sector Superannuation Accumulation Plan (PSSAP)
Section 14
14 Superannuation Bill 2005 No. , 2005
(i) a person is in particular employment or holds a
1
particular statutory office; and
2
(ii) the person is eligible to be a member of PSSAP because
3
of that employment or holding that office; and
4
(iii) there is no chosen fund for the person (within the
5
meaning of Part 3A of the Superannuation Guarantee
6
(Administration) Act 1992); and
7
(iv) assuming that the person were to become a member of
8
PSSAP and the person's employer (within the meaning
9
of the Superannuation Guarantee (Administration) Act
10
1992) were to make a basic employer contribution to
11
PSSAP for the benefit of the person, the employer
12
would rely on subsection 32C(2), (4A) or (6) of that Act
13
to satisfy the choice of fund requirements in relation to
14
the contribution; and
15
(v) the person's salary or wages (within the meaning of the
16
Superannuation Guarantee (Administration) Act 1992)
17
would be taken into account for the purpose of making a
18
calculation under section 19 of that Act; and
19
(b) immediately before that time, the person was not a member
20
of PSSAP;
21
the person is taken to have become a member of PSSAP at that
22
time.
23
Note:
See also section 16 (PSSAP is the sole eligible choice fund in relation
24
to APS employees etc. for certain purposes).
25
(5) Subsection (4) does not apply to a person if the person's employer
26
(within the meaning of the Superannuation Guarantee
27
(Administration) Act 1992):
28
(a) gives; or
29
(b) has given; or
30
(c) proposes to give;
31
the person a standard choice form (within the meaning of Part 3A
32
of the Superannuation Guarantee (Administration) Act 1992) that
33
sets out the name of a fund (within the meaning of that Part) other
34
than PSSAP that the employer will contribute to if the person does
35
not make a choice.
36
(6) Subsection (4) does not apply to a person at a particular time if:
37
Members of Public Sector Superannuation Accumulation Plan (PSSAP) Part 3
Section 15
Superannuation Bill 2005 No. , 2005 15
(a) the following conditions are satisfied:
1
(i) at that time, the person is the holder of a statutory office
2
(within the meaning of the Superannuation Act 1990);
3
(ii) the person's current term of appointment included a day
4
in the financial year beginning on 1 July 2005; or
5
(b) the following conditions are satisfied:
6
(i) at that time, the person is a temporary employee (within
7
the meaning of the Superannuation Act 1990);
8
(ii) if the person's employment is for a fixed term--the
9
term included a day in the financial year beginning on
10
1 July 2005;
11
(iii) if the person's employment is not for a fixed term--the
12
period of employment included a day in the financial
13
year beginning on 1 July 2005.
14
15 Duration of membership of PSSAP
15
(1) If a person becomes a member of PSSAP, the person's
16
membership continues until:
17
(a) if there is only one occasion on which a benefit is payable to
18
or in respect of the member in accordance with the Rules:
19
(i) that benefit is paid; or
20
(ii) if the person dies before that benefit is paid--the death
21
of the person; or
22
(b) if there are 2 or more occasions on which a benefit is paid to
23
or in respect of the member in accordance with the Rules:
24
(i) the last of those benefits is paid; or
25
(ii) if the person dies before the last of those benefits is
26
paid--the death of the person; or
27
(c) in any other case--the death of the person.
28
(2) A person does not cease to be a member of PSSAP merely because
29
the person ceases to be eligible to become a member of PSSAP.
30
(3) If a person ceases to be a member of PSSAP, this section does not
31
prevent the person from subsequently becoming a member of
32
PSSAP.
33
Part 3 Members of Public Sector Superannuation Accumulation Plan (PSSAP)
Section 16
16 Superannuation Bill 2005 No. , 2005
16 PSSAP is the sole eligible choice fund in relation to APS
1
employees etc. for certain purposes
2
(1) If:
3
(a) either:
4
(i) a person is eligible to become a member of PSSAP
5
because of particular employment; or
6
(ii) a person is a member of PSSAP, and if the person were
7
not a member of PSSAP, the person would be eligible to
8
become a member because of particular employment;
9
and
10
(b) that employment is:
11
(i) employment as an APS employee; or
12
(ii) specified in a written determination made by the
13
Minister under this subparagraph; and
14
(c) PSSAP is covered by a paragraph of section 32D of the
15
Superannuation Guarantee (Administration) Act 1992;
16
then, for the purposes of the application of subsection 32C(2) of
17
the Superannuation Guarantee (Administration) Act 1992 to the
18
person, PSSAP is the sole eligible choice fund for the person's
19
employer.
20
Note:
For specification by class, see subsection 13(3) of the Legislative
21
Instruments Act 2003.
22
(2) A determination under subparagraph (1)(b)(ii) is a legislative
23
instrument for the purposes of the Legislative Instruments Act
24
2003.
25
(3) Despite anything in section 44 of the Legislative Instruments Act
26
2003, section 42 of that Act applies to a determination under
27
subparagraph (1)(b)(ii) of this section.
28
(4) In this section:
29
employment has the same meaning as in the Superannuation
30
Guarantee (Administration) Act 1992.
31
Note:
See also section 18A of the Acts Interpretation Act 1901 (parts of
32
speech and grammatical forms).
33
Contributions Part 4
Section 17
Superannuation Bill 2005 No. , 2005 17
1
Part 4--Contributions
2
3
17 Contributions to PSSAP by designated employers
4
(1) This section applies to a person who is an ordinary
5
employer-sponsored member of PSSAP in respect of particular
6
employment or the holding of a particular office.
7
(2) The designated employer of the member must pay to the Board, in
8
accordance with the Rules, any contributions that, under the Rules,
9
are payable by the employer in respect of the member.
10
Note:
See also section 39 (amounts payable to the Board).
11
18 Ordinary employer-sponsored member of PSSAP
12
(1) This section sets out the 3 situations in which a person is an
13
ordinary employer-sponsored member of PSSAP.
14
PSSAP is the person's chosen fund
15
(2) If, at a particular time:
16
(a) a person is a member of PSSAP; and
17
(b) if the person had not been a member of PSSAP, the person
18
would have been eligible to become a member because of
19
particular employment or holding a particular office; and
20
(c) assuming that the person's employer (within the meaning of
21
the Superannuation Guarantee (Administration) Act 1992)
22
were to make a basic employer contribution to PSSAP for the
23
benefit of the person, the employer would rely on subsection
24
32C(1) of that Act to satisfy the choice of fund requirements
25
in relation to the contribution; and
26
(d) the person's salary or wages (within the meaning of the
27
Superannuation Guarantee (Administration) Act 1992)
28
would be taken into account for the purpose of making a
29
calculation under section 19 of that Act;
30
the person is an ordinary employer-sponsored member of PSSAP
31
in respect of that employment or the holding of that office.
32
Part 4 Contributions
Section 18
18 Superannuation Bill 2005 No. , 2005
PSSAP is the person's mandated fund
1
(3) Subject to subsection (4), if, at a particular time:
2
(a) a person is a member of PSSAP; and
3
(b) if the person had not been a member of PSSAP, the person
4
would have been eligible to become a member because of
5
particular employment or holding a particular office; and
6
(c) there is no chosen fund for the person (within the meaning of
7
Part 3A of the Superannuation Guarantee (Administration)
8
Act 1992); and
9
(d) assuming that the person's employer (within the meaning of
10
the Superannuation Guarantee (Administration) Act 1992)
11
were to make a basic employer contribution to PSSAP for the
12
benefit of the person, the employer would rely on subsection
13
32C(2), (4A) or (6) of that Act to satisfy the choice of fund
14
requirements in relation to the contribution; and
15
(e) the person's salary or wages (within the meaning of the
16
Superannuation Guarantee (Administration) Act 1992)
17
would be taken into account for the purpose of making a
18
calculation under section 19 of that Act;
19
the person is an ordinary employer-sponsored member of PSSAP
20
in respect of that employment or the holding of that office.
21
(4) Subsection (3) does not apply to a person if the person's employer
22
(within the meaning of the Superannuation Guarantee
23
(Administration) Act 1992):
24
(a) gives; or
25
(b) has given; or
26
(c) proposes to give;
27
the person a standard choice form (within the meaning of Part 3A
28
of the Superannuation Guarantee (Administration) Act 1992) that
29
sets out the name of a fund (within the meaning of that Part) other
30
than PSSAP that the employer will contribute to if the person does
31
not make a choice.
32
Superannuation Guarantee (Administration) Act 1992 does not
33
apply to the person
34
(5) Subject to subsection (6), if:
35
Contributions Part 4
Section 19
Superannuation Bill 2005 No. , 2005 19
(a) a person is a member of PSSAP; and
1
(b) if the person had not been a member of PSSAP, the person
2
would have been eligible to become a member because of
3
particular employment or holding a particular office; and
4
(c) the person's salary or wages (within the meaning of the
5
Superannuation Guarantee (Administration) Act 1992)
6
would not be taken into account for the purpose of making a
7
calculation under section 19 of that Act;
8
the person is an ordinary employer-sponsored member of PSSAP
9
in respect of that employment or the holding of that office.
10
(6) Subsection (5) does not apply to a person in relation to particular
11
employment or holding a particular office if:
12
(a) the person has, in a manner approved by the Board in writing
13
under this paragraph, chosen not to be an ordinary
14
employer-sponsored member of PSSAP in respect of that
15
employment or the holding of that office; and
16
(b) that choice has not been withdrawn.
17
19 Designated employers
18
(1) This section applies to a person who is an ordinary
19
employer-sponsored member of PSSAP in respect of particular
20
employment or the holding of a particular office.
21
(2) For the purposes of this Act, the following table defines the
22
designated employer of the member.
23
24
Designated employers
Item
In this case...
the designated employer of the
member is...
1
(a) the member is employed by the
Commonwealth; and
(b) the remuneration in respect of
the member's employment is
paid wholly or mainly out of
money appropriated by an annual
Appropriation Act in respect of
an Agency (within the meaning
of the Public Service Act 1999)
the Agency.
Part 4 Contributions
Section 19
20 Superannuation Bill 2005 No. , 2005
Designated employers
Item
In this case...
the designated employer of the
member is...
2
(a) the member is employed by the
Commonwealth; and
(b) the remuneration in respect of
the member's employment is
paid wholly or mainly out of
money appropriated by an annual
Appropriation Act in respect of a
Parliamentary Department
the Parliamentary Department.
3
(a) the member is employed by the
Commonwealth; and
(b) the remuneration in respect of
the member's employment is
paid wholly or mainly out of
money appropriated by an Act
other than an annual
Appropriation Act
(a) an Agency (within the meaning
of the Public Service Act 1999)
determined by the Minister in
writing under this item; or
(b) a Parliamentary Department
determined by the Minister in
writing under this item.
4
(a) the member is the holder of a
statutory office; and
(b) the remuneration in respect of
the office is paid by an approved
authority
the approved authority.
5
(a) the member is the holder of a
statutory office; and
(b) the remuneration in respect of
the office is not paid by an
approved authority
(a) an Agency (within the meaning
of the Public Service Act 1999)
determined by the Minister in
writing under this item; or
(b) a Parliamentary Department
determined by the Minister in
writing under this item; or
(c) a person determined by the
Minister in writing under this
item.
6
none of the above items apply to the
member
the authority or body by which the
member is employed.
1
(3) A determination under item 3 or 5 of the table in subsection (2)
2
may be expressed to relate to a class of members.
3
Contributions Part 4
Section 19
Superannuation Bill 2005 No. , 2005 21
(4) A determination under item 3 or 5 of the table in subsection (2) is a
1
legislative instrument for the purposes of the Legislative
2
Instruments Act 2003.
3
(5) Despite anything in section 44 of the Legislative Instruments Act
4
2003, section 42 of that Act applies to a determination under item 3
5
or 5 of the table in subsection (2) of this section.
6
Part 5 Administration
Division 1 The Board
Section 20
22 Superannuation Bill 2005 No. , 2005
1
Part 5--Administration
2
Division 1--The Board
3
20 Functions and powers
4
(1) The functions and powers of the Board in relation to PSSAP and
5
the PSSAP Fund are those set out in the Trust Deed.
6
(2) The Board is also responsible for the general administration of this
7
Act.
8
Note:
See also section 22 of the Superannuation Act 1990 (functions in
9
relation to PSS and the PSS Fund).
10
21 Trustee Act of ACT to apply
11
Except in so far as it is inconsistent with a law of the
12
Commonwealth, the Trustee Act 1925 of the Australian Capital
13
Territory applies to, and in relation to, the trustees acting in the
14
performance of their functions, or the exercise of their powers,
15
under the Trust Deed.
16
22 Exemption from taxation
17
(1) Subject to this section, neither:
18
(a) the Board (in so far as it performs functions, or exercises
19
powers, in relation to PSSAP or the PSSAP Fund); nor
20
(b) the PSSAP Fund;
21
are subject to:
22
(c) taxation under a law of the Commonwealth other than:
23
(i) the A New Tax System (Goods and Services Tax) Act
24
1999; or
25
(ii) the Income Tax Assessment Act 1936; or
26
(iii) the Income Tax Assessment Act 1997; or
27
(iv) the Superannuation Contributions Tax (Assessment and
28
Collection) Act 1997; or
29
Administration Part 5
The Board Division 1
Section 23
Superannuation Bill 2005 No. , 2005 23
(d) taxation under a law of a State or Territory, if the
1
Commonwealth is not subject to the taxation.
2
(2) The regulations may provide that subsection (1) does not apply in
3
relation to taxation under a specified law.
4
(3) This section has effect subject to such modifications (if any) as are
5
prescribed by the regulations.
6
(4) The regulations may provide that this section ceases to have effect
7
at a specified time.
8
23 Banking
9
The Board must pay all money received by it in respect of the
10
PSSAP Fund into an account maintained by it with a bank (within
11
the meaning of the Commonwealth Authorities and Companies Act
12
1997).
13
24 Accounting records
14
(1) The Board must keep proper accounts and records of the PSSAP
15
Fund's transactions and affairs, in accordance with the accounting
16
principles generally applied in commercial practice.
17
(2) The Board must do all things necessary to ensure that:
18
(a) all payments out of the PSSAP Fund are correctly made and
19
properly authorised; and
20
(b) adequate control is maintained over:
21
(i) the assets of the PSSAP Fund; and
22
(ii) the incurring of liabilities by the Board in respect of the
23
PSSAP Fund.
24
25 Audit
25
(1) At least once a financial year, the Auditor-General must:
26
(a) inspect and audit:
27
(i) the accounts and records of the PSSAP Fund's financial
28
transactions; and
29
(ii) the records relating to assets of the PSSAP Fund; and
30
Part 5 Administration
Division 1 The Board
Section 26
24 Superannuation Bill 2005 No. , 2005
(b) report to the Minister the results of the inspection and audit.
1
(2) However, the Auditor-General may decide to dispense with all or
2
any part of the detailed inspection and audit of the accounts and
3
records.
4
(3) The Auditor-General must, as soon as practicable, report to the
5
Minister any irregularity disclosed by the inspection and audit that
6
the Auditor-General thinks is sufficiently important to be reported.
7
(4) A report under subsection (1) or (3) is not a legislative instrument
8
for the purposes of the Legislative Instruments Act 2003.
9
Note:
For the information-gathering powers of the Auditor-General, see
10
Part 5 of the Auditor-General Act 1997.
11
26 Annual report and financial statements
12
(1) The Board must, as soon as practicable after the end of:
13
(a) the financial year starting on 1 July 2005; and
14
(b) each later financial year;
15
prepare and give to the Minister:
16
(c) a report on the performance of its functions in relation to
17
PSSAP and the PSSAP Fund during the year; and
18
(d) financial statements in respect of the management of the
19
PSSAP Fund during the year, in a form agreed between the
20
Minister and the Board.
21
(2) Before giving the financial statements to the Minister, the Board
22
must submit them to the Auditor-General, who must report to the
23
Minister:
24
(a) whether the statements are based on proper accounts and
25
records; and
26
(b) whether the statements are in agreement with the accounts
27
and records and show fairly the financial transactions and the
28
state of the PSSAP Fund; and
29
(c) whether:
30
(i) the receipt of money into the PSSAP Fund; and
31
(ii) the payment of money out of the PSSAP Fund; and
32
(iii) the investment of money standing to the credit of the
33
PSSAP Fund;
34
Administration Part 5
The Board Division 1
Section 26
Superannuation Bill 2005 No. , 2005 25
during the year have been in accordance with this Act and the
1
Trust Deed; and
2
(d) as to such other matters arising out of the statements as the
3
Auditor-General considers should be reported.
4
(3) The Minister must cause a copy of:
5
(a) the report prepared by the Board; and
6
(b) the financial statements prepared by the Board; and
7
(c) the report of the Auditor-General in respect of the financial
8
statements;
9
to be tabled in each House of the Parliament within 15 sitting days
10
of that House after the receipt of whichever of those documents
11
was last received by the Minister.
12
(4) If the Board has not complied with subsection (1) within a period
13
of 6 months after the end of a financial year, the Board must,
14
within 14 days after the end of that period, give to the Minister an
15
interim report on the performance of its functions in relation to
16
PSSAP and the PSSAP Fund during that year together with interim
17
financial statements in respect of the management of the PSSAP
18
Fund during that year.
19
(5) The financial statements given to the Minister under subsection (4)
20
must be in the form approved by the Minister for the purposes of
21
subsection (1) but need not be accompanied by a report of the
22
Auditor-General.
23
(6) If the Board gives a report and financial statements to the Minister
24
under subsection (4), the Minister must:
25
(a) cause a copy of the report and a copy of the financial
26
statements to be tabled in each House of the Parliament
27
within 15 sitting days of that House after their receipt by the
28
Minister; and
29
(b) make the report and financial statements available to the
30
public.
31
(7) A report under subsection (1) or (4) is not a legislative instrument
32
for the purposes of the Legislative Instruments Act 2003.
33
Part 5 Administration
Division 1 The Board
Section 27
26 Superannuation Bill 2005 No. , 2005
27 Money in the PSSAP Fund is not public money etc.
1
To avoid doubt:
2
(a) money standing to the credit of the PSSAP Fund is not public
3
money for the purposes of the Financial Management and
4
Accountability Act 1997; and
5
(b) the assets of the PSSAP Fund are not public property for the
6
purposes of the Financial Management and Accountability
7
Act 1997.
8
28 Delegation by Board
9
Delegations by Board
10
(1) The Board may, by writing, delegate to:
11
(a) a trustee; or
12
(b) the Commissioner for Superannuation; or
13
(c) a member of the staff assisting the Commissioner for
14
Superannuation in the performance of his or her functions
15
under this Act; or
16
(d) an APS employee in the Department; or
17
(e) an officer or employee of a person who is responsible for
18
investing money forming part of a superannuation fund
19
vested in or managed by the Board; or
20
(f) any other person who performs duties in connection with the
21
operation of this Act; or
22
(g) a committee consisting of 2 or more persons each of whom is
23
a person referred to in any of the above paragraphs;
24
all or any of its powers under this Act, the regulations or the Trust
25
Deed.
26
Sub-delegations
27
(2) If the Board delegates a power under subsection (1) to a trustee, the
28
trustee may, by writing, sub-delegate the power to:
29
(a) another trustee; or
30
(b) a person referred to in paragraph (1)(b), (c), (d), (e) or (f).
31
Administration Part 5
The Board Division 1
Section 29
Superannuation Bill 2005 No. , 2005 27
(3) If the Board delegates a power under subsection (1) to the
1
Commissioner for Superannuation, the Commissioner may, by
2
writing, sub-delegate the power to a person referred to in
3
paragraph (1)(c), (d), (e) or (f).
4
(4) If the Board delegates a power under subsection (1) to a person
5
referred to in paragraph (1)(c), (d), (e) or (f), the delegate may, by
6
writing, sub-delegate the power to:
7
(a) another person referred to in the same paragraph; or
8
(b) a person referred to in another of those paragraphs.
9
(5) Section 34AA and paragraphs 34AB(a), (b) and (d) of the Acts
10
Interpretation Act 1901 apply in relation to a sub-delegation in a
11
corresponding way to the way in which they apply to a delegation.
12
(6) Section 34A and paragraphs 34AB(c) and (d) of the Acts
13
Interpretation Act 1901 apply to a sub-delegation as if it were a
14
delegation.
15
29 Indemnification of trustees etc.
16
(1) Anything done, or omitted to be done, in good faith by:
17
(a) a trustee in the performance of his or her functions under the
18
Trust Deed; or
19
(b) the Commissioner for Superannuation in the performance of
20
his or her duties under this Act; or
21
(c) a member of the staff assisting the Commissioner for
22
Superannuation in the performance of those duties; or
23
(d) a delegate of the Board in the performance of his or her
24
functions under this Act, the regulations or the Trust Deed; or
25
(e) a person who is a member of a Reconsideration Advisory
26
Committee established under the Trust Deed in the
27
performance of his or her functions under the Trust Deed;
28
does not subject him or her personally to any action, liability, claim
29
or demand.
30
(2) Subsection (1) does not prevent the Board from being subject to an
31
action, liability, claim or demand.
32
(3) Except in cases where the Superannuation Industry (Supervision)
33
Act 1993 or regulations under that Act do not so permit, any money
34
Part 5 Administration
Division 1 The Board
Section 29
28 Superannuation Bill 2005 No. , 2005
becoming payable by the Board in respect of an action, liability,
1
claim or demand in relation to this Act, the regulations or the Trust
2
Deed is to be paid out of the PSSAP Fund.
3
(4) If an amount is paid out of the PSSAP Fund under subsection (3),
4
an equivalent amount is to be paid to the PSSAP Fund out of the
5
Consolidated Revenue Fund, which is appropriated accordingly.
6
(5) This section has effect subject to such modifications (if any) as are
7
prescribed by the regulations.
8
(6) The regulations may provide that this section ceases to have effect
9
at a specified time.
10
Administration Part 5
Commissioner for Superannuation Division 2
Section 30
Superannuation Bill 2005 No. , 2005 29
1
Division 2--Commissioner for Superannuation
2
30 Functions of Commissioner for Superannuation
3
(1) Subject to this Division, the Commissioner for Superannuation is
4
responsible for the provision of administrative services to the
5
Board in the performance of its functions in relation to PSSAP.
6
(2) In the discharge of functions under this Act, the Commissioner for
7
Superannuation must act in accordance with any policies
8
determined, and any directions given, by the Board.
9
(3) This section has effect subject to such modifications (if any) as are
10
prescribed by the regulations.
11
(4) The regulations may provide that this section ceases to have effect
12
at a specified time.
13
31 Other functions of Commissioner for Superannuation not to be
14
prejudiced
15
The Commissioner for Superannuation is not required under this
16
Division to do anything that would prejudice the performance of:
17
(a) the Commissioner's functions under any other Act (including
18
any function that the Commissioner has as the Chairman of
19
the Defence Force Retirement and Death Benefits Authority);
20
or
21
(b) the Commissioner's functions under any regulations made
22
under an Act.
23
Part 5 Administration
Division 3 Ministerial powers
Section 32
30 Superannuation Bill 2005 No. , 2005
1
Division 3--Ministerial powers
2
32 Making of certain legislative instruments
3
(1) This section applies to a declaration, determination or instrument
4
that is:
5
(a) made by the Minister under this Act (other than section 10 or
6
16); and
7
(b) a legislative instrument for the purposes of the Legislative
8
Instruments Act 2003.
9
(2) The Minister may not make the declaration, determination or
10
instrument unless:
11
(a) the Board has consented to the making of the declaration,
12
determination or instrument; or
13
(b) the declaration, determination or instrument:
14
(i) relates to a payment by an employer-sponsor within the
15
meaning of the Superannuation Industry (Supervision)
16
Act 1993 that will, after the making of the declaration,
17
determination or instrument, be required or permitted to
18
be made under this Act; or
19
(ii) relates solely to the termination of the PSSAP Fund; or
20
(iii) is made in circumstances covered by regulations made
21
for the purposes of subparagraph 60(1)(b)(iii) of the
22
Superannuation Industry (Supervision) Act 1993.
23
(3) For the purposes of subparagraph (2)(b)(i), a payment by a
24
designated employer under the Trust Deed or the Rules is taken to
25
be a payment by an employer-sponsor referred to in that
26
subparagraph.
27
33 Delegation by Minister
28
The Minister may, by writing, delegate all or any of his or her
29
powers under this Act or the regulations to:
30
(a) the Board; or
31
(b) the Commissioner for Superannuation; or
32
Administration Part 5
Ministerial powers Division 3
Section 33
Superannuation Bill 2005 No. , 2005 31
(c) a member of the staff assisting the Commissioner of
1
Superannuation in the performance of his or her functions
2
under this Act; or
3
(d) an APS employee in the Department.
4
Part 5 Administration
Division 4 Costs of administration
Section 34
32 Superannuation Bill 2005 No. , 2005
1
Division 4--Costs of administration
2
34 Costs of administration of Act etc.
3
(1) The costs of the administration of this Act and the Trust Deed,
4
including the costs of and incidental to:
5
(a) the management of the PSSAP Fund by the Board; and
6
(b) the investment of its money;
7
are to be paid as the Minister determines in writing under this
8
subsection.
9
(2) A determination under subsection (1) is to identify, whether by
10
amount or otherwise:
11
(a) those costs payable by the Commonwealth; and
12
(b) those costs payable by the Board out of the PSSAP Fund.
13
(3) This section has effect subject to such modifications (if any) as are
14
prescribed by the regulations.
15
(4) The regulations may provide that this section ceases to have effect
16
at a specified time.
17
(5) A determination under subsection (1) is a legislative instrument for
18
the purposes of the Legislative Instruments Act 2003, but
19
section 42 of that Act does not apply to the instrument.
20
35 Estimates
21
(1) The Board may prepare an estimate of the costs referred to in
22
subsection 34(1) that are likely to be incurred in respect of a
23
financial year.
24
(2) The Board, if the Minister by writing under this subsection
25
requests it to do so, must prepare an estimate containing any
26
information requested by the Minister in respect of any of those
27
costs that are referred to in the request.
28
Administration Part 5
Costs of administration Division 4
Section 36
Superannuation Bill 2005 No. , 2005 33
36 Certain authorities to pay part of estimated costs of
1
administration
2
(1) This section applies if, under subsection 35(1), the Board prepares
3
an estimate of costs for a financial year.
4
(2) The Minister may, by writing, direct an authority or body to pay to
5
the Commonwealth such part of the costs as:
6
(a) relates to the period specified in the direction; and
7
(b) is determined by the Minister having regard to such matters
8
(if any) as are prescribed; and
9
(c) is specified in the direction.
10
(3) The period specified in the direction must be:
11
(a) the financial year; or
12
(b) included in the financial year.
13
(4) The Minister must not direct an authority or body under
14
subsection (2) unless, during the period specified in the direction,
15
the authority or body is or will be a designated employer of
16
ordinary employer-sponsored members of PSSAP.
17
(5) An authority or body that is required to make a payment under
18
subsection (2) may apply for that purpose any money under its
19
control.
20
(6) This section has effect subject to such modifications (if any) as are
21
prescribed by the regulations.
22
(7) The regulations may provide that this section ceases to have effect
23
at a specified time.
24
37 Payment of fees
25
(1) The regulations may provide that, if a person requests the Board to
26
reconsider one of its decisions, the person is liable to pay a fee to
27
the Board.
28
(2) Subsection (1) does not authorise the imposition of taxation within
29
the meaning of section 55 of the Constitution.
30
Part 5 Administration
Division 4 Costs of administration
Section 38
34 Superannuation Bill 2005 No. , 2005
(3) The regulations may make provision for and in relation to the
1
refund of any fees paid under subsection (1).
2
38 Board liable to pay surcharge under the Superannuation
3
Contributions Tax (Assessment and Collection) Act 1997
4
To avoid doubt:
5
(a) for the purposes of the Superannuation Contributions Tax
6
(Assessment and Collection) Act 1997, the Board in its
7
capacity as a superannuation provider is an entity distinct
8
from the Commonwealth; and
9
(b) consequently, section 33 of that Act does not affect the
10
liability of the Board under that Act to pay surcharge on the
11
surchargeable contributions of members of PSSAP.
12
Administration Part 5
Other administrative matters Division 5
Section 39
Superannuation Bill 2005 No. , 2005 35
1
Division 5--Other administrative matters
2
39 Amounts payable to the Board
3
(1) Any amount (including an amount of contributions) that is payable
4
to the Board under this Act or the Rules may be recovered by the
5
Board in a court of competent jurisdiction as a debt.
6
(2) If:
7
(a) an amount (including an amount of contributions) is payable
8
by a person to the Board under this Act or the Rules; and
9
(b) the amount remains unpaid after the day on which payment
10
was due;
11
the person is liable to pay to the Board interest on any such amount
12
that remains unpaid at such rate as the Board determines in writing
13
under this subsection.
14
(3) A determination under subsection (2) is a legislative instrument for
15
the purposes of the Legislative Instruments Act 2003, but
16
section 42 of that Act does not apply to the instrument.
17
40 Recovery of overpayments
18
If, for any reason (including the making of, or cancellation of, an
19
election under the Rules), the Board has paid an amount of benefit
20
that was, or has become, not payable:
21
(a) the amount so paid may be recovered by the Board in a court
22
of competent jurisdiction as a debt; or
23
(b) if the person to whom that amount was paid is receiving, or is
24
entitled to receive, a benefit under the Rules--the amount so
25
paid, or such part of that amount as the Board determines,
26
may, if the Board so directs, be recovered by deduction from
27
that benefit.
28
41 Board may rely on information supplied by employers or former
29
employers
30
(1) For the purposes of the Trust Deed in its application to or in
31
respect of a person who is or has been a member of PSSAP, the
32
Part 5 Administration
Division 5 Other administrative matters
Section 42
36 Superannuation Bill 2005 No. , 2005
Board may presume that any information provided to the Board by
1
a designated employer or former designated employer of the
2
person is correct.
3
(2) If a tribunal, authority or person is empowered to review a decision
4
of the Board and vary, or make a decision in substitution for, the
5
Board's decision, the tribunal, authority or person is not bound by
6
any presumption made by the Board under subsection (1).
7
42 Board may require employers to distribute information etc. to
8
members of PSSAP
9
(1) The Board may:
10
(a) send to the designated employer of an ordinary
11
employer-sponsored member of PSSAP any document or
12
written information that under:
13
(i) this Act; or
14
(ii) any other Act;
15
the Board is required to send to the member; and
16
(b) request the designated employer to give the document or
17
information to the member.
18
(2) The designated employer must comply with the request unless
19
doing so would breach Chapter 7 of the Corporations Act 2001.
20
(3) The Board must ensure that the confidentiality of any document or
21
information sent to the designated employer for transmission to the
22
member is preserved.
23
Miscellaneous Part 6
Section 43
Superannuation Bill 2005 No. , 2005 37
1
Part 6--Miscellaneous
2
3
43 Ordinary employer-sponsored member not to be retired on
4
grounds of invalidity without Board certificate
5
(1) This section applies to a person who is:
6
(a) under the age of 60; and
7
(b) an ordinary employer-sponsored member of PSSAP in
8
respect of particular employment or the holding of a
9
particular office.
10
(2) The member is not capable of being retired from the employment
11
or office on the ground of invalidity unless:
12
(a) the Board has approved, under the Rules, the invalidity
13
retirement of the member; and
14
(b) the Board has certified in writing under this paragraph that, if
15
the member is so retired, the member will be entitled to
16
receive invalidity benefits under PSSAP.
17
(3) A reference in subsection (2) to a member being retired from
18
employment or office includes a reference to the services of the
19
member being otherwise terminated.
20
(4) Subsection (2) has effect despite anything contained in any Act,
21
award, determination, agreement or contract of employment.
22
44 Persons subject to Rules
23
(1) A person who is, or has ceased to be, a member of PSSAP is
24
subject to the Rules to the extent that they are applicable in relation
25
to the person.
26
(2) A person who is, or has ceased to be, a person to whom a benefit is
27
payable under provisions of the Rules authorised by section 12 is
28
subject to the Rules to the extent that they are applicable in relation
29
to the person.
30
(3) An authority or body who is, or has been, the designated employer
31
of an ordinary employer-sponsored member of PSSAP is subject to
32
Part 6 Miscellaneous
Section 45
38 Superannuation Bill 2005 No. , 2005
the Rules to the extent that they are applicable in relation to the
1
authority or body.
2
(4) The Commonwealth is subject to the Rules to the extent that they
3
are applicable in relation to the Commonwealth because it is, or
4
has been, the designated employer of an ordinary
5
employer-sponsored member of PSSAP.
6
45 Regulations
7
(1) The Governor-General may make regulations prescribing matters:
8
(a) required or permitted to be prescribed by this Act; or
9
(b) necessary or convenient to be prescribed for carrying out or
10
giving effect to this Act.
11
(2) Regulations may not be made unless:
12
(a) the Board has consented to the making of the regulations; or
13
(b) the regulations:
14
(i) relate to a payment by an employer-sponsor within the
15
meaning of the Superannuation Industry (Supervision)
16
Act 1993 that will, after the making of the regulations,
17
be required or permitted to be made under this Act; or
18
(ii) relate solely to the termination of the PSSAP Fund; or
19
(iii) are made in circumstances covered by regulations made
20
for the purposes of subparagraph 60(1)(b)(iii) of the
21
Superannuation Industry (Supervision) Act 1993.
22
(3) For the purposes of subparagraph (2)(b)(i), a payment under the
23
Trust Deed or the Rules is taken to be a payment by an
24
employer-sponsor referred to in that subparagraph.
25
46 Regulations relating to the operation of the Superannuation
26
Industry (Supervision) Act 1993 and certain other laws
27
(1) The regulations may make any provision that is necessary for the
28
purpose of enabling PSSAP to satisfy any condition or requirement
29
of, or made under, any of the following laws if that law is capable
30
of applying in relation to PSSAP:
31
(a) the Corporations Act 2001;
32
(b) the Family Law Act 1975;
33
Miscellaneous Part 6
Section 46
Superannuation Bill 2005 No. , 2005 39
(c) the Financial Institutions Supervisory Levies Collection Act
1
1998;
2
(d) the Income Tax Assessment Act 1936 or the Income Tax
3
Assessment Act 1997;
4
(e) the Superannuation Industry (Supervision) Act 1993;
5
(f) the Superannuation (Resolution of Complaints) Act 1993;
6
(g) the Superannuation (Unclaimed Money and Lost Members)
7
Act 1999.
8
(2) If regulations made for the purposes of subsection (1) are
9
inconsistent with a provision of this Act, the regulations prevail
10
and the provision, to the extent of the inconsistency, is of no effect.
11

 

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