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SUPERANNUATION (PSS) MEMBERSHIP INCLUSION DECLARATION (AMENDMENT) 1996 NO. 296

EXPLANATORY STATEMENT

STATUTORY RULES 1996 No. 296

Issued by the authority of the Minister for Finance

Declaration under paragraph 6(1)(j)

The Superannuation Act 1990 (the 1990 Act) makes provision for and in relation to an occupational superannuation scheme, the Public Sector Superannuation Scheme (the PSS), for Commonwealth employees and certain other persons.

Section 6 of the 1990 Act specifies the persons who are, or may be, members of the PSS. 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. Declarations made under paragraph 6(1)(j) are contained in the Superannuation (PSS) Membership Inclusion Declaration (the Principal Declarations).

Section 45 of the 1990 Act provides that a declaration under paragraph 6(1)(j) 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 take effect up to 12 months before the making of the declaration.

On 1 July 1996, the ACT Totalizator Administration Board (ACTTAB) was corporatised and became ACTTAB Limited. ACTTAB Limited is a wholly owned company of the ACT Government. On corporatisation, ACTTAB staff ceased employment with the ACT Government Service (ACTGS) and became employees of ACTTAB Limited. In accordance with arrangements between the ACT and Commonwealth Governments, it is appropriate that ACTTAB Limited staff should continue to have access to the PSS from the date of corporatisation, provided that the ACT Government has a controlling interest in the company.

Superannuation (PSS) Membership Inclusion Declaration (Amendment) permits employees of ACTTAB Limited, who were PSS members before 1 July 1996 to continue membership of the PSS and, to provide certain former members of the ACTTAB Staff Superannuation Plan with PSS membership. Details of the declaration are set out in the Attachment.

The Superannuation (PSS) Membership Inclusion Declaration (Amendment) commenced on 1 July 1996, the day of corporatisation. It provides continued membership of the PSS for employees of ACTTAB Limited who were PSS members immediately before becoming employed by ACTTAB Limited, and PSS membership for certain ACTTAB Limited employees who were members of the ACTTAB Plan which was wound up on corporatisation.

Details of the Declaration are as follows:

Clause 1

Provides that the Declaration commenced retrospectively on 1 July 1996, the day ACTTAB became corporatised under the name ACTTAB Limited.

Clause 2

Provides that the Superannuation (PSS) Membership Inclusion Declaration (the Principal Declaration) is amended as set out in the Superannuation (PS S) Membership Inclusion Declaration (Amendment).

Clause 3

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 3.1 amends subclause 3(1) to include new subclause 3(4).

Clause 3.2 of the amending declaration inserts new subclause 3(4) to provide that membership of the PSS scheme for persons described in item 11 of the Schedule is contingent on a controlling interest being held in ACTTAB Limited by one or more of the following:

*       the Australian Capital Territory (ACT) (or its nominees); or

*       an authority of body established for a public purpose by or under a law of the ACT; or

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

Clause 4

Provides for the inclusion of item 11 in the Schedule which describes those ACTTAB Limited employees who are persons to whom section 6 of the 1900 Act applies and therefore members of the PSS. The declaration applies to employees who were PSS members immediately before becoming employed by ACTTAB Limited and to certain other employees who were members of the ACTTAB Staff Superannuation Plan which was wound up on corporatisation.

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 ACTTAB Limited (other that an alternative superannuation scheme as defined in the Principal Declaration) the person would cease to be a member of the PSS.