Commonwealth Numbered Acts Commonwealth Numbered Acts
Superannuation Guarantee (Administration) Act 1992
1 Section 6 (definition of defined benefit member )
After " defined benefit member ", insert ", subject to section 6AA,".
2 After section 6
Insert:
6AA Interpretation: defined benefit member
The regulations may prescribe:
(a) circumstances in which a member of a superannuation fund is not a defined benefit member for the purposes of this Act, or a provision of this Act; and
(b) circumstances in which a member of a superannuation fund who is not otherwise a defined benefit member is to be taken to be a defined benefit member for the purposes of this Act, or a provision of this Act.
3 After subsection 19(2C)
Insert:
(2CA) For the purposes of paragraph (2B)(b), if the employee is a defined benefit member of a superannuation fund, subsection 32C(2) applies in relation to the employee and the fund as if it did not include paragraph 32C(2)(c) (requirement that fund includes a MySuper product).
Superannuation Industry (Supervision) Act 1993
4 Subsection 10(1) (definition of defined benefit member )
Repeal the definition, substitute:
"defined benefit member" :
(a) in the definition of choice product in this subsection, section 20B and Part 2C--has the same meaning as in the Superannuation Guarantee (Administration) Act 1992 ; and
(b) in Division 3A of Part 8 and in Part 23--has the meaning given by section 83A; and
(c) in any other provision of this Act--has the meaning given by the regulations;
subject to subsection (1A).
5 Savings
Despite the repeal of the definition of defined benefit member in subsection 10(1) of the Superannuation Industry (Supervision) Act 1993 by item 4 of this Schedule, regulations in force for the purposes of that definition immediately before the commencement of that item continue in effect on and after that commencement, and may be repealed, as if they were made for the purposes of paragraph (c) of the definition of defined benefit member inserted by that item.
6 After subsection 10(1)
Insert:
(1A) The regulations may prescribe:
(a) circumstances in which a member of a superannuation fund is not a defined benefit member for the purposes of this Act, or a provision of this Act; and
(b) circumstances in which a member of a superannuation fund who is not otherwise a defined benefit member for the purposes of this Act, or a provision of this Act, is to be taken to be a defined benefit member for the purposes of this Act, or that provision.
7 Subparagraph 29TB(1)(d)(i)
After "any employee of the large employer", insert "who is not a defined benefit member of the fund".
8 Subparagraph 29TB(1)(d)(ii)
After "any employee of that associate", insert "who is not a defined benefit member of the fund".
9 At the end of section 29TB
Add:
(3) In working out under subsection (2) whether an employer is a large employer , disregard defined benefit members of the fund.
10 Paragraph 29WA(1)(a)
After "a regulated superannuation fund", insert "(other than a defined benefit member)".