Commonwealth Numbered Regulations - Explanatory Statements

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SUPERANNUATION (PSS) MEMBERSHIP INCLUSION DECLARATION (AMENDMENT) 1995 NO. 88

STATUTORY RULES 1995 No. 88

Issued by the Authority of the Minister for Finance

Superannuation Act 1990

Declaration under paragraph 6(1)(j)

The Superannuation Act 1990 (the 1990 Act) makes provision for and in relation to an occupational superannuation scheme for persons employed by the Commonwealth and certain other persons. The scheme is referred to in the 1990 Act as the Superannuation Scheme but is commonly known as the Public Sector Superannuation (PSS) scheme.

Section 6 of the Act specifies the persons who may be members of the PSS scheme. In accordance with paragraph 6(1)(j), a person declared by the Minister for Finance to be a person to whom section 6 applies is a member of the PSS scheme.

Section 45 of the Act provides that such a declaration 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.

The Declaration contained in the Statutory Rules and cited as "Superannuation (PSS) Membership Inclusion Declaration (Amendment)" specifies certain employees of Australian Information Media Pty Limited (AIM) who may be members of the PSS scheme.

AIM is a recently formed subsidiary of Ambridge Australia Pty Limited, which is a 100% owned subsidiary of the ABC. Ambridge Australia Pty Limited currently owns 100% of AIM, but will eventually reduce this to 51%. It is expected that at that time the remaining 49% will be owned by private investors.

The Australian Broadcasting Corporation is an approved authority for the purposes of the Act. As a consequence some of its employees are members of the PSS scheme. Other PSS scheme members employed by other Government agencies may also become employees of AIM in the future.

Superannuation (PSS) Membership Inclusion Declaration (Amendment) permits former employees of the ABC, or other Government agencies, who were PSS scheme members while in that employment, to continue membership of the PSS scheme after transferring to employment with AIM. The details of the declaration are set out in the Attachment.

The Declaration commenced on gazettal. It ensures that the employees maintain continuity of PSS scheme membership and protects their superannuation entitlements from being adversely affected by the transfer.

ATTACHMENT

SUPERANNUATION (PSS) MEMBERSHIP INCLUSION DECLARATION (AMENDMENT)

The details of the Declaration are: as follows:

Clause 1

This clause provides that the Superannuation (PSS) Membership Inclusion Declaration (Principal Declaration) is amended as set out in the Superannuation (PSS) Membership Inclusion Declaration (Amendment).

Clause 2

Subclause 3(1) of the Principal Declaration provides that persons described in the Schedule to the declaration are persons to whom section 6 of the 1990 Act applies.

Clause 2.1 amends subclause 3(1) to include new subclause 3(3).

Clause 2.2 makes a technical amendment as a result of inserted subclause 3(3).

Clause 2.3 of the amending declaration inserts new subclause 3(3) to provide that membership of the PSS for persons described in item 9 of the Schedule is contingent on a controlling interest being held in Australian Information Media Pty Limited by one or more of the following:

•       the Commonwealth (or its nominees); or

•       an authority or body established for a public purpose by or under a law of the Commonwealth;

•       a company or other body corporate, in which one of the above has a controlling interest.

Clause 3

Provides for the inclusion of item 9 of the Schedule which describes those AIM employees who are persons to whom section 6 of the Superannuation Act 1990 applies and therefore members of the PSS scheme. In general, the declaration applies to an AIM employee who immediately before becoming or last becoming an employee of AIM was a member of the PSS scheme. Persons to whom the mobility provisions of the Public Service Act 1922 applies, who are members by virtue of paragraph 6(1)(h) of the 1990 Act, are not included in the provisions of this declaration.

This clause provides that should a person to whom the declaration applies become a member of another superannuation scheme applying to that person's employment by AIM (other than an alternative superannuation scheme as defined in the Principal Declaration) the person would cease to be a member of the PSS scheme.