Commonwealth Numbered Regulations - Explanatory Statements

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SUPERANNUATION (PSS) APPROVED AUTHORITY INCLUSION DECLARATION NO. 6 1992 NO.77

STATUTORY RULES 1992 No. 77

ISSUED BY THE AUTHORITY OF THE MINISTER FOR FINANCE

SUPERANNUATION ACT 1990

DECLARATION UNDER PARAGRAPH (b) OF THE DEFINITION OF "APPROVED AUTHORITY" IN SECTION 3

The Superannuation Act 1990 (the 1990 Act) provides for the new superannuation scheme for Commonwealth employees and certain other persons to operate from 1 July 1990. Members of the Commonwealth superannuation scheme which was established under the Superannuation Act 1976 had the option, to be exercised between 1 July 1990 and 30 June 1991, of remaining members of that scheme or of transferring to the new scheme.

Persons eligible to contribute under the 1990 Act include certain persons employed by an approved authority. In accordance with paragraph (b) of the definition of "approved authority" in section 3 of the 1990 Act, an approved authority includes an authority or body that is declared, in writing, by the Minister for Finance to be an approved authority for the purposes of the Act, being an authority or body of a kind described in the definition.

Section 45 of the 1990 Act provides that such a declaration by the Minister for Finance is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 and a Statutory Rule for the purposes of the Statutory Rules Publication Act 1903 and may be expressed to have taken effect from and including a day not earlier than 12 months before the making of the declaration.

The Aboriginal and Torres Strait Islander Commercial Development Corporation was established by the Aboriginal and Torres Strait Islander Commission Act 1989 as a body corporate with power to engage its own employees and commenced engaging employees from 5 March 1990.

The Australian Fisheries Management Authority was established by the Fisheries Administration Act 1991 as a body corporate with power to engage its own employees and commenced engaging employees from 3 February 1992.

The Grains Research and Development Corporation was established under the Primary Industries and Energy Research and Development Act 1989 as a body corporate with power to engage its own employees and commenced engaging employees in January 1991.

Totalcare Industries Limited is a company incorporated under the Corporations Act 1989 which on 1 January 1992 became a Territory Owned Corporation under the provisions of the Australian Capital Territory Territory Owned Corporations Act 1990.

The Aboriginal and Torres Strait Islander commercial Development Corporation, the Australian Fisheries Management Authority, the Grains Research and Development Corporation and Totalcare Industries Limited are bodies of a kind described in the definition of approved authority in section 3 of the 1990 Act. It is appropriate that the four bodies be declared to be approved authorities for the purposes of that Act to enable their staff to remain or become members of the scheme established under the Act.

The Declaration contained in the Statutory Rule, and cited as Superannuation (PSS) Approved Authority Inclusion Declaration No. 6, declares the Aboriginal and Torres Strait Islander Commercial Development Corporation and the Grains Research and Development Corporation to be approved authorities for the purposes of the 1990 Act with the maximum retrospectivity available under that Act. The Declaration also declares Totalcare Industries Limited and the Australian Fisheries Management Authority to be approved authorities for the purposes of the 1990 Act with effect from 1 January 1992 and 3 February 1992 respectively.