South Australian Current Acts South Australian Current Acts (1) In this Act,
unless the contrary intention appears—
"approved authority" means a public authority to which an approval has been
granted by the Minister under section 5A(3);
"associate"—see subsection (2);
"beneficiary" includes a person who is an object of a discretionary trust;
"the board" means the board of directors of the Corporation;
"chief executive officer" means the person for the time being appointed to, or
acting in, the office of chief executive officer under Part 4;
"contributor" means a person who is—
(a) a
contributor within the meaning of the Superannuation Act 1988 or the
Police Superannuation Act 1990 ; or
(b) a
member or spouse member of the Southern State Superannuation Scheme; or
(c) a
person provided with investment services or other products or services
pursuant to regulations under section 30(2)(g) of the Southern State
Superannuation Act 2009 ;
"the Corporation" means the Superannuation Funds Management Corporation of
South Australia continued in existence by this Act;
"director" means a person appointed as a member of the board of
the Corporation;
"domestic partner" means a person who is a domestic partner within the meaning
of the Family Relationships Act 1975 , whether declared as such under
that Act or not;
"eligible superannuation fund" means a superannuation fund that is not a
public sector superannuation fund but consists of money contributed by the
Crown to provide a group of its employees with superannuation benefits;
"executive" means the chief executive officer or any other employee of
the Corporation who is concerned or takes part in the management of
the Corporation;
"the funds" means—
(a) the
public sector superannuation funds; and
(b) the
nominated funds of each approved authority; and
(c)
the funds (if any) established by the Corporation for the purposes of
Schedule 3 of the Superannuation Act 1988 ;
"liability" includes a contingent liability;
"nominated funds" means funds of an approved authority nominated by the
Minister and transferred to the Corporation in accordance with an approval
under section 5A(3);
"prescribed interest" has the same meaning as in the Corporations Law ;
"prescribed public authority" means a public authority that has been declared
by regulation to be a prescribed public authority for the purposes of this
definition;
Note—
A regulation made for the purposes of this definition cannot come into
operation until the time for disallowance of the regulation has
passed—see subsection (6).
"public authority" means—
(a) a
government department;
(b) a
Minister;
(c) a
statutory authority—
(i)
that is an agency or instrumentality of the Crown; or
(ii)
the accounts of which the Auditor-General is required by
law to audit,
and includes any body or person responsible for the management of an
eligible superannuation fund and any other body or person brought within the
ambit of this definition by the regulations;
"public sector superannuation funds" means—
(a) the
Police Superannuation Fund; and
(b) the
South Australian Superannuation Fund; and
(c) the
Southern State Superannuation Fund; and
(ca) the
Parliamentary Superannuation Fund; and
(d)
contributions to be made by an employer pursuant to an arrangement under
section 5 of the Superannuation Act 1988 where the arrangement requires
that the contributions be invested and managed by the Corporation; and
(e) a
fund in relation to which a determination by the Minister under
subsection (3) is in force; and
(f)
money received or held by the South Australian Superannuation Board in the
provision of investment or other services that is to be invested by the
Corporation in accordance with regulations made under the Southern State
Superannuation Act 2009 ;
"record" includes—
(a)
information stored or recorded by a computer or any other means; and
(b) a
computer tape or disk or any other device on or by which information is stored
or recorded;
"relative" in relation to a person, means—
(a) the
spouse, domestic partner, a parent or remoter linear ancestor; or
(b) a
son, daughter or remoter issue; or
(c) a
brother or sister,
of the person;
"relevant interest" has the same meaning as in the Corporations Law ;
"remuneration" in relation to an office or employment, includes any benefit of
pecuniary value attaching to the office or employment;
"spouse"—a person is the spouse of another if they are legally married;
"the superannuation boards" means—
(a) the
Police Superannuation Board; and
(b) the
South Australian Superannuation Board.
(2) For the purposes
of this Act, a person is an associate of another person if—
(a) the
other person is a relative of the person or of the person's spouse or
domestic partner; or
(i)
is a body corporate; and
(ii)
the person or a relative of the person or of the person's
spouse or domestic partner has, or two or more such persons together have, a
relevant interest or relevant interests in shares in the body corporate the
nominal value of which is not less than 10 per cent of the nominal value of
the issued share capital of the body corporate; or
(c) the
other person is a trustee of a trust of which the person, a relative of the
person or of the person's spouse or domestic partner or a body corporate
referred to in paragraph (b) is a beneficiary; or
(d) the
person is declared by the regulations to be an associate of the other person.
(3) The Minister may
determine a superannuation fund held by the Minister or, where the Minister is
not the Treasurer, by the Treasurer to be a public sector superannuation fund
for the purposes of this Act.
(4) A fund referred to
in subsection (3) must consist of money contributed by the Crown to
provide a group of its employees with superannuation benefits.
(5) The Minister may
revoke a determination under subsection (3) at any time.
(6) A regulation made
under this Act declaring a public authority to be a "prescribed public
authority for the purposes of the definition of that term cannot come into
operation until the time for disallowance of the regulation has passed.
Note—
For definition of divisional penalties (and divisional expiation fees) see
Appendix.