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FINANCIAL FRAMEWORK LEGISLATION AMENDMENT REGULATIONS 2005 (NO. 1) (SLI NO 218 OF 2005) - SCHEDULE 1

Amendments commencing on the day after registration

(regulation 3)

   

Part 1           Amendments of Australian Postal Corporation Regulations 1996

[1]           Paragraph 5 (2) (b)

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

[2]           Subregulation 5 (3)

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

Part 2           Amendments of Bankruptcy Regulations 1996

[3]           Regulation 12.01, heading

substitute

12.01       Statement where moneys are paid to the Commonwealth

[4]           Subregulation 12.01 (1)

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

[5]           Subregulation 12.01 (3)

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

Part 3           Amendment of Financial Management and Accountability Regulations 1997

[6]           Subregulation 23 (3)

substitute

         (3)   The Commonwealth must dispose of the property by sale, unless it is impracticable, or undesirable in the public interest, to do so.

Part 4           Amendment of National Health and Medical Research Council Regulations 1993

[7]           Schedule 1, Form 1

omit

Medical Research Endowment Reserve

insert

Medical Research Endowment Account

Part 5           Amendments of Primary Industries (Customs) Charges Regulations 2000

[8]           Reader's Guide, section 14

omit

The first 2 Acts impose the levies, and the third Act sets up the Reserve into which the levies are paid and provides for the distribution of money from the Reserve.

insert

The first 2 Acts impose the levies, and the third Act sets up the Account to which the amounts of levies are credited and provides for the debiting of amounts from the Account.

[9]           Schedule 3, subclause 1 (2), note

omit

under the National Cattle Disease Eradication Reserve Act 1991 , is destined for the National Cattle Disease Eradication Reserve

insert

under the National Cattle Disease Eradication Account Act 1991 , is destined for the National Cattle Disease Eradication Account

Part 6           Amendments of Primary Industries (Excise) Levies Regulations 1999

[10]         Reader's Guide, section 14

omit

The first 2 Acts impose the levies, and the third Act sets up the Reserve into which the levies are paid and provides for the distribution of money from the Reserve.

insert

The first 2 Acts impose the levies, and the third Act sets up the Account to which the amounts of levies are credited and provides for the debiting of amounts from the Account.

[11]         Schedule 3, subclause 1A (2), note

omit

under the National Cattle Disease Eradication Reserve Act 1991 , is destined for the National Cattle Disease Eradication Reserve.

insert

under the National Cattle Disease Eradication Account Act 1991 , is destined for the National Cattle Disease Eradication Account.

[12]         Schedule 3, subclause 2 (3), note

omit

under the National Cattle Disease Eradication Reserve Act 1991 , is destined for the National Cattle Disease Eradication Reserve.

insert

under the National Cattle Disease Eradication Account Act 1991 , is destined for the National Cattle Disease Eradication Account.

Part 7           Amendment of Primary Industries Levies and Charges Collection Regulations 1991

[13]         Reader's Guide, section 13

omit

The first 2 Acts impose the levies, and the third Act sets up the Reserve into which the levies are paid and provides for the distribution of money from the Reserve.

insert

The first 2 Acts impose the levies, and the third Act sets up the Account to which the amounts of levies are credited and provides for the debiting of amounts from the Account.

Part 8           Amendment of Primary Industries Levies and Charges (National Residue Survey Levies) Regulations 1998

[14]         Reader's Guide, section 3

omit

The first 2 Acts impose the levies, and the third sets up the Reserve into which the levies are paid and provides for the distribution of money from the Reserve.

insert

The first 2 Acts impose the levies, and the third Act sets up the Account to which the amounts of levies are credited and provides for the debiting of amounts from the Account.

Part 9           Amendments of Retirement Savings Accounts Regulations 1997

[15]         Subregulation 1.03 (1), definition of contributions , paragraph (b)

omit

Superannuation Holding Accounts Reserve

insert

Superannuation Holding Accounts Special Account

[16]         Subregulation 1.03 (1), definition of Superannuation Holding Accounts Reserve

substitute

Superannuation Holding Accounts Special Account means the Special Account established by section 8 of the Small Superannuation Accounts Act 1995 .

[17]         Paragraph 4.04 (c)

substitute

                         (c)    the amount of benefits arising from payments from the Superannuation Holding Accounts Special Account; and

Part 10         Amendment of Superannuation (CSS) Deferred Benefits Regulations

[18]         Schedule, modified subsection 112 (9B) of the Superannuation Act 1976

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

Part 11         Amendment of Superannuation (CSS) Former Eligible Employees Regulations

[19]         Schedule 5, modified paragraph 134 (3) (b) of the Superannuation Act 1976

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

Part 12         Amendments of Superannuation (CSS) Transfer Arrangements Regulations

[20]         Schedule 2, modified paragraph 128 (2) (b) of the Superannuation Act 1976

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

[21]         Schedule 2, modified paragraph 128 (4) (d) of the Superannuation Act 1976

omit

to the Consolidated Revenue Fund

insert

to the Commonwealth

[22]         Schedule 7, modified subsection 128 (1) of the Superannuation Act 1976

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

[23]         Schedule 7, modified subsection 128 (2) of the Superannuation Act 1976

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

[24]         Schedule 7, modified subsection 128 (2A) of the Superannuation Act 1976

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

[25]         Schedule 7, modified subsection 128 (3) of the Superannuation Act 1976

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

[26]         Schedule 7, modified subsection 128 (4) of the Superannuation Act 1976

omit each mention of

into the Consolidated Revenue Fund

insert

to the Commonwealth

[27]         Schedule 8, modified paragraph 128 (2) (b) of the Superannuation Act 1976

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

[28]         Schedule 8, modified paragraph 128 (4) (b) of the Superannuation Act 1976

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth

[29]         Schedule 8, modified paragraph 128 (4) (d) of the Superannuation Act 1976

omit

to the Consolidated Revenue Fund

insert

to the Commonwealth

Part 13         Amendments of Superannuation (Government Co-contribution for Low Income Earners) Regulations 2004

[30]         Subregulation 5 (1), table, item 5, column 3

omit

Superannuation Holding Accounts Account

insert

Superannuation Holding Accounts Special Account

[31]         Subregulation 5 (1), note

substitute

Note    The Small Superannuation Accounts Act 1995 established the Superannuation Holding Accounts Reserve (SHAR) and provided that after the commencement of the Financial Management and Accountability Act 1997 , the SHAR was a component of the Reserved Money Fund -- see section 8 of that Act.

The Financial Management Legislation Amendment Act 1999 converted the SHAR into a Special Account for the purposes of the Financial Management and Accountability Act 1997 , with the name Superannuation Holding Accounts Account -- see section 5 of that Act.

The Financial Framework Legislation Amendment Act 2005 renamed the Special Account as the Superannuation Holding Accounts Special Account -- see item 324 of Schedule 1 to that Act.

[32]         Schedule 3, item 307

omit

a Superannuation Holding Account Reserve account

insert

an account in the Superannuation Holding Accounts Special Account

Part 14         Amendments of Superannuation Industry (Supervision) Regulations 1994

[33]         Subregulation 1.03 (1), definition of contributions , paragraph (b)

omit

Superannuation Holding Accounts Reserve

insert

Superannuation Holding Accounts Special Account

[34]         Subregulation 1.03 (1), definition of Superannuation Holding Accounts Reserve

substitute

Superannuation Holding Accounts Special Account means the Special Account established by section 8 of the Small Superannuation Accounts Act 1995 .

[35]         Subregulation 5.01 (2)

omit

Superannuation Holding Accounts Reserve

insert

Superannuation Holding Accounts Special Account

[36]         Paragraph 10.06 (2) (c)

omit

Superannuation Holding Accounts Reserve

insert

Superannuation Holding Accounts Special Account

[37]         Paragraph 10.07 (2) (c)

omit

Superannuation Holding Accounts Reserve

insert

Superannuation Holding Accounts Special Account

[38]         Schedule 2, item 202.2, modified paragraph 9 (1) (e) of the Occupational Superannuation Standards Regulations

substitute

              '(e)    benefits must be preserved if they arise from payments from the Superannuation Holding Accounts Special Account;

Part 15         Amendment of Weapons of Mass Destruction Regulations 1995

[39]         Paragraph 9 (3) (c)

omit

into the Consolidated Revenue Fund

insert

to the Commonwealth



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