Commonwealth Numbered Acts

SUPERANNUATION AMENDMENT ACT (No. 2) 1976 No. 51, 1976 - SECT 3

3. Section 42 of the Superannuation Act 1976*2* is amended-

(a) by omitting from sub-section (6) the definition of ''Commonwealth
securities'' and substituting the following definition:-

'' 'Commonwealth securities' means bonds, debentures, stock or other
securities issued under an Act, but does not include-

   (a)  securities issued in respect of a loan raised outside Australia unless
        the securities are Commonwealth securities for the purposes of the
        Income Tax Assessment Act 1936-1976; or

   (b)  securities issued after 12 April 1976 by a bank;'';

and

   (b)  by omitting from sub-section (6) the definition of ''public
        securities'' and substituting the following definition:-

'' 'public securities' means-

   (a)  Commonwealth securities;

   (b)  bonds, debentures, stock or other securities issued by-

        (i)    a State;

        (ii)   a Territory; or

        (iii)  a municipal corporation, other local governing body or public
               authority constituted by or under an Act or by or under the law
               of a State or Territory;

   (c)  securities issued in respect of a loan to a company the principal
        business of which is the supply and distribution, by a system of
        reticulation, in Australia or in a Territory, of water, gas or
        electricity; and

   (d)  other securities specified in the regulations as public securities for
        the purposes of this section,

but does not include-

   (e)  securities referred to in paragraph (b) issued in respect of a loan
        raised outside Australia and the Territories, unless the securities
        are public securities for the purposes of the Income Tax Assessment
        Act 1936-1976; or

   (f)  securities issued after 12 April 1976 by a bank;''.
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