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Superannuation Act 2005

  • - C2011C00547
  • In force - Superseded Version
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Act No. 80 of 2005 as amended, taking into account amendments up to Superannuation Legislation (Consequential Amendments and Transitional Provisions) Act 2011
An Act about the Public Sector Superannuation Accumulation Plan (PSSAP), and for related purposes
Administered by: Finance
Registered 20 Jul 2011
Start Date 01 Jul 2011
End Date 26 Dec 2011

Superannuation Act 2005

Act No. 80 of 2005 as amended

This compilation was prepared on 15 July 2011
taking into account amendments up to Act No. 58 of 2011

The text of any of those amendments not in force
on that date is appended in the Notes section

The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting and Publishing,
Attorney‑General’s Department, Canberra

  

 

 


Contents

Part 1—Introduction                                                                                                            1

1............ Short title [see Note 1]........................................................................ 1

2............ Commencement................................................................................... 1

3............ Simplified outline................................................................................ 2

4............ Definitions.......................................................................................... 2

5............ Public sector employees...................................................................... 4

6............ Extended meaning of employed........................................................... 6

7............ Statutory offices.................................................................................. 7

8............ Approved authorities........................................................................... 7

9............ Application of Act............................................................................... 9

Part 2—The Trust Deed                                                                                                  10

10.......... Deed to establish PSSAP etc............................................................ 10

11.......... Amendment of Trust Deed................................................................ 10

12.......... Family law interest splitting.............................................................. 11

Part 3—Members of Public Sector Superannuation Accumulation Plan (PSSAP)          12

13.......... Eligibility for membership of PSSAP............................................... 12

14.......... Becoming a member of PSSAP........................................................ 13

15.......... Duration of membership of PSSAP.................................................. 15

16.......... PSSAP is the sole eligible choice fund in relation to APS employees etc. for certain purposes               16

Part 4—Contributions                                                                                                       17

17.......... Contributions to PSSAP by designated employers........................... 17

18.......... Ordinary employer‑sponsored member of PSSAP........................... 17

19.......... Designated employers....................................................................... 19

Part 5—Administration                                                                                                    22

Division 1—CSC                                                                                                            22

20.......... Functions and powers....................................................................... 22

29.......... Indemnification................................................................................. 22

Division 3—Ministerial powers                                                                             23

32.......... Making of certain legislative instruments.......................................... 23

33.......... Delegation by Minister...................................................................... 23

Division 4—Costs of administration                                                                   25

34.......... Costs of administration of Act etc..................................................... 25

35.......... Estimates........................................................................................... 25

36.......... Certain authorities to pay part of estimated costs of administration... 25

37.......... Payment of fees................................................................................. 26

38.......... CSC liable to pay surcharge under the Superannuation Contributions Tax (Assessment and Collection) Act 1997.......................................................................................................... 27

Division 5—Other administrative matters                                                      28

39.......... Amounts payable to the CSC............................................................ 28

40.......... Recovery of overpayments................................................................ 28

41.......... CSC may rely on information supplied by employers or former employers             28

42.......... CSC may require employers to distribute information etc. to members of PSSAP  29

Part 6—Miscellaneous                                                                                                       30

43.......... Ordinary employer‑sponsored member not to be retired on grounds of invalidity without CSC certificate              30

44.......... Persons subject to Rules................................................................... 30

45.......... Regulations....................................................................................... 31

46.......... Regulations relating to the operation of the Superannuation Industry (Supervision) Act 1993 and certain other laws.......................................................................................................... 31

Notes                                                                                                                                             33


An Act about the Public Sector Superannuation Accumulation Plan (PSSAP), and for related purposes

Part 1Introduction

  

1  Short title [see Note 1]

                   This Act may be cited as the Superannuation Act 2005.

2  Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provision(s)

Commencement

Date/Details

1.  Sections 1 and 2 and anything in this Act not elsewhere covered by this table

The day on which this Act receives the Royal Assent.

29 June 2005

2.  Sections 3 to 46

The later of:

(a) the day on which this Act receives the Royal Assent; and

(b) the day on which the Superannuation (Consequential Amendments) Act 2005 receives the Royal Assent.

However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur.

29 June 2005

(paragraph (a) applies)

Note:          This table relates only to the provisions of this Act as originally passed by the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.

             (2)  Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.

3  Simplified outline

                   The following is a simplified outline of this Act:

•      This Act provides for a superannuation scheme, to be known as the Public Sector Superannuation Accumulation Plan (PSSAP).

•      Generally, a person is eligible to become a member of PSSAP if he or she is a public sector employee who starts work on or after 1 July 2005.

•      Generally, if a person is eligible to become a member of PSSAP, he or she becomes a member if:

               (a)     he or she chooses to become a member; or

              (b)     PSSAP is his or her mandated fund.

•      A person’s membership of PSSAP continues until the occasion, or the last of the occasions, on which a benefit is paid to or in respect of the member.

•      Employers must pay contributions to PSSAP for the benefit of ordinary employer‑sponsored members of PSSAP.

•      CSC is responsible for PSSAP.

4  Definitions

             (1)  In this Act:

approved authority has the meaning given by section 8.

Australian government superannuation scheme member means a person who is:

                     (a)  a member of the PSS; or

                     (b)  an eligible employee (within the meaning of the Superannuation Act 1976);

so long as the Minister has made a declaration that such a person is an Australian government superannuation scheme member.

Note:          See also subsections (2) and (3).

basic employer contribution has the same meaning as in the Rules.

Board has the same meaning as in the Superannuation Act 1990.

CSC (short for Commonwealth Superannuation Corporation) has the same meaning as in the Governance of Australian Government Superannuation Schemes Act 2011.

designated employer has the meaning given by section 19.

employed has a meaning affected by section 6.

exempt overseas employee has the meaning given by subsection 5(2).

former Australian government superannuation scheme member means:

                     (a)  a person who is a former member of the PSS in respect of whom a preserved benefit under PSS has not yet been paid; or

                     (b)  a person in respect of whom deferred benefits are applicable under the Superannuation Act 1976;

so long as the Minister has made a declaration that such a person is a former Australian government superannuation scheme member.

Note:          See also subsections (2) and (3).

invalidity, in relation to a person, means the person’s inability, because of any mental or physical condition, to perform the duties of his or her employment or office.

modifications includes additions, omissions and substitutions.

ordinary employer‑sponsored member of PSSAP has the meaning given by section 18.

Parliamentary Department means a Department of the Parliament established under the Parliamentary Service Act 1999.

PSS means the Public Sector Superannuation Scheme within the meaning of the Superannuation Act 1990.

PSSAP: see Public Sector Superannuation Accumulation Plan.

PSSAP Fund means the fund established, and vested in the Board, by the Trust Deed.

Note:          From 1 July 2011, the fund is vested in CSC.

PSS Fund has the same meaning as in the Superannuation Act 1990.

public sector employee has the meaning given by section 5.

Public Sector Superannuation Accumulation Plan or PSSAP means the superannuation scheme established by the Trust Deed.

Rules means the Rules for the administration of PSSAP set out in the Schedule to the Trust Deed.

statutory office has the meaning given by section 7.

Trust Deed means:

                     (a)  the deed referred to in section 10; or

                     (b)  if the deed is amended—the deed as so amended.

             (2)  A declaration under:

                     (a)  the definition of Australian government superannuation scheme member; or

                     (b)  the definition of former Australian government superannuation scheme member;

is a legislative instrument.

             (3)  Despite anything in section 44 of the Legislative Instruments Act 2003, section 42 of that Act applies to a declaration under:

                     (a)  the definition of Australian government superannuation scheme member; or

                     (b)  the definition of former Australian government superannuation scheme member.

5  Public sector employees

             (1)  For the purposes of this Act, a person is a public sector employee if, and only if, the person is:

                     (a)  either:

                              (i)  employed by the Commonwealth or an approved authority; or

                             (ii)  the holder of a statutory office; and

                     (b)  not an exempt overseas employee.

             (2)  For the purposes of this Act, a person is an exempt overseas employee if the person is:

                     (a)  engaged or appointed for employment outside Australia only; and

                     (b)  not specified in a written declaration made by the Minister under this paragraph.

Note:          For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

Declarations

             (3)  A declaration under paragraph (2)(b) is a legislative instrument for the purposes of the Legislative Instruments Act 2003.

             (4)  Despite anything in section 44 of the Legislative Instruments Act 2003, section 42 of that Act applies to a declaration under paragraph (2)(b) of this section.

             (5)  A declaration under paragraph (2)(b) may be expressed to have taken effect on a day not earlier than 12 months before the making of the declaration.

             (6)  If:

                     (a)  a declaration is made under paragraph (2)(b); and

                     (b)  before the start of the 12‑month period ending immediately before the making of the declaration, basic employer contributions were accepted or purportedly accepted in respect of a person to whom the declaration relates;

the declaration may be expressed to have taken effect on a day not earlier than the earliest day on which those contributions were accepted or purportedly accepted.

6  Extended meaning of employed

Directors of companies and other bodies corporate

             (1)  For the purposes of this Act, if:

                     (a)  a person is a full‑time director of a company or other body corporate; and

                     (b)  the company or other body is an approved authority; and

                     (c)  the company or other body is incorporated under a law of the Commonwealth or of a State or Territory; and

                     (d)  the person is not specified in a written declaration made by the Minister under this paragraph;

the person is employed by the company or other body.

Note:          For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

             (2)  The Minister may, by writing, declare that, for the purposes of this Act, a specified person is employed by a company or other body corporate, so long as:

                     (a)  the person is a director of the company or other body; and

                     (b)  the person is not a full‑time director of the company or other body; and

                     (c)  the company or other body is an approved authority; and

                     (d)  the company or other body is incorporated under a law of the Commonwealth or of a State or Territory.

Note:          For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

Declarations

             (3)  A declaration under paragraph (1)(d) or subsection (2) is a legislative instrument for the purposes of the Legislative Instruments Act 2003.

             (4)  Despite anything in section 44 of the Legislative Instruments Act 2003, section 42 of that Act applies to a declaration under paragraph (1)(d) or subsection (2) of this section.

7  Statutory offices

             (1)  For the purposes of this Act, a statutory office is:

                     (a)  an office established by or under:

                              (i)  an Act; or

                             (ii)  regulations made under an Act; or

                            (iii)  a law of a Territory; or

                     (b)  an office specified in a written declaration made by the Minister under this paragraph.

Note:          For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

Declarations

             (2)  A declaration under paragraph (1)(b) is a legislative instrument for the purposes of the Legislative Instruments Act 2003.

             (3)  Despite anything in section 44 of the Legislative Instruments Act 2003, section 42 of that Act applies to a declaration under paragraph (1)(b) of this section.

             (4)  A declaration under paragraph (1)(b) may be expressed to have taken effect on a day not earlier than 12 months before the making of the declaration.

             (5)  If:

                     (a)  a declaration is made under paragraph (1)(b); and

                     (b)  before the start of the 12‑month period ending immediately before the making of the declaration, basic employer contributions were accepted or purportedly accepted in respect of a holder of the office to whom the declaration relates;

the declaration may be expressed to have taken effect on a day not earlier than the earliest day on which those contributions were accepted or purportedly accepted.

8  Approved authorities

             (1)  This section sets out the 2 situations in which an authority or body is an approved authority for the purposes of this Act.

Approved authorities under the Superannuation Act 1990

             (2)  An authority or body is an approved authority if:

                     (a)  the authority or body was, at the end of 30 June 2005, an approved authority for the purposes of the Superannuation Act 1990; and

                     (b)  the authority or body is not specified in a written declaration made by the Minister under this paragraph.

Note:          For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

Ministerial declarations

             (3)  The Minister may, by writing, declare that an authority or body is an approved authority for the purposes of this Act, so long as the authority or body is:

                     (a)  a body corporate incorporated for a public purpose by:

                              (i)  an Act; or

                             (ii)  regulations made under an Act; or

                            (iii)  a law of a Territory; or

                     (b)  an authority or body (other than a body corporate) established for a public purpose by or under:

                              (i)  an Act; or

                             (ii)  regulations made under an Act; or

                            (iii)  a law of a Territory; or

                     (c)  a company or other body corporate:

                              (i)  that is incorporated under an Act or a law of a State or Territory; and

                             (ii)  in which the Commonwealth has a controlling interest; or

                     (d)  an authority or body that is wholly or substantially financed (whether directly or indirectly) by money provided by the Commonwealth; or

                     (e)  a company or other body corporate incorporated under an Act or a law of a State or Territory, where:

                              (i)  an authority or body covered by paragraph (a), (b), (c) or (d), or that is an approved authority because of subsection (2), has a controlling interest in the company or body; or

                             (ii)  the Commonwealth and one, or more than one, such authority or body together have a controlling interest in the company or body; or

                            (iii)  2 or more such authorities or bodies together have a controlling interest in the company or body.

             (4)  The Minister must not declare an authority or body to be an approved authority under subsection (3) if the authority or body is an approved authority because of subsection (2).

Declarations

             (5)  A declaration under paragraph (2)(b) or subsection (3) is a legislative instrument for the purposes of the Legislative Instruments Act 2003.

             (6)  Despite anything in section 44 of the Legislative Instruments Act 2003, section 42 of that Act applies to a declaration under paragraph (2)(b) or subsection (3) of this section.

             (7)  A declaration under subsection (3) may be expressed to have taken effect on a day not earlier than 12 months before the making of the declaration.

9  Application of Act

                   This Act applies both within and outside Australia.


 

Part 2The Trust Deed

  

10  Deed to establish PSSAP etc.

             (1)  Before 1 July 2005, the Minister must, for and on behalf of the Commonwealth, by deed:

                     (a)  establish a superannuation scheme that:

                              (i)  is to be known as the Public Sector Superannuation Accumulation Plan; and

                             (ii)  may also be known as PSSAP; and

                            (iii)  is for the benefit of persons who will be members of PSSAP; and

                     (b)  establish, and vest in the Board, a fund for the purposes of PSSAP; and

                     (c)  set out the functions and powers of the Board in relation to PSSAP and the PSSAP Fund.

             (2)  The deed under subsection (1) is a legislative instrument for the purposes of the Legislative Instruments Act 2003, but section 42 of that Act does not apply to the deed.

11  Amendment of Trust Deed

             (1)  The Minister may, by writing, amend the Trust Deed.

             (2)  If compliance with a provision of the Trust Deed as amended under subsection (1) would have the effect that PSSAP:

                     (a)  would not be a regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993; or

                     (b)  would not comply with that Act;

that provision is invalid.

             (3)  An instrument under subsection (1) is a legislative instrument for the purposes of the Legislative Instruments Act 2003.

             (4)  Despite anything in section 44 of the Legislative Instruments Act 2003, section 42 of that Act applies to an instrument under subsection (1) of this section.

12  Family law interest splitting

             (1)  Without limiting section 10 or 11, the Rules:

                     (a)  may provide that, when a splitting agreement or splitting order is received by CSC in respect of a superannuation interest under this Act:

                              (i)  the non‑member spouse is entitled to benefits determined in accordance with the Rules; and

                             (ii)  the benefits of the member spouse are reduced in accordance with the Rules; and

                     (b)  may include any other provision that is related to, or consequential on, provisions referred to in paragraph (a).

             (2)  In this section:

member spouse has the same meaning as in Part VIIIB of the Family Law Act 1975.

non‑member spouse has the same meaning as in Part VIIIB of the Family Law Act 1975.

splitting agreement means:

                     (a)  a superannuation agreement (within the meaning of Part VIIIB of the Family Law Act 1975); or

                     (b)  a flag lifting agreement (within the meaning of Part VIIIB of the Family Law Act 1975) that provides for a payment split (within the meaning of Part VIIIB of the Family Law Act 1975).

splitting order has the same meaning as in Part VIIIB of the Family Law Act 1975.

superannuation interest has the same meaning as in Part VIIIB of the Family Law Act 1975.


 

Part 3Members of Public Sector Superannuation Accumulation Plan (PSSAP)

  

13  Eligibility for membership of PSSAP

             (1)  A person is eligible to become a member of PSSAP if:

                     (a)  subject to subsections (2) and (3), the person is:

                              (i)  a public sector employee; or

                             (ii)  specified in a written declaration made by the Minister under this subparagraph; or

                     (b)  subject to subsection (3), the person is an Australian government superannuation scheme member; or

                     (c)  subject to subsection (3), the person is a former Australian government superannuation scheme member.

Note:          Subparagraph (1)(a)(ii)—for specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

             (2)  A person is not eligible to become a member of PSSAP if:

                     (a)  the person is a member of PSS (other than a member of the PSS who has made an election under section 6B of the Superannuation Act 1990); or

                     (b)  the person is a former member of PSS in respect of whom a preserved benefit under PSS has not yet been paid; or

                     (c)  the person is a PSS invalidity pensioner (within the meaning of the Superannuation Act 1990); or

                     (d)  the person is entitled to make an election under section 7 or 8 of the Superannuation Act 1990 that would result in the person becoming a member of PSS; or

                     (e)  the person is an eligible employee for the purposes of the Superannuation Act 1976; or

                      (f)  the person is a person to whom the Judges’ Pensions Act 1968 applies; or

                     (g)  the person is covered by paragraph 6(2)(ba) of the Superannuation Act 1990; or

                     (h)  the person is specified in a written declaration made by the Minister under this paragraph.

Note:          For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

             (3)  A person is not eligible to become a member of PSSAP before 1 July 2005.

Declarations

             (4)  A declaration under paragraph (1)(b) or (2)(h) is a legislative instrument for the purposes of the Legislative Instruments Act 2003.

             (5)  Despite anything in section 44 of the Legislative Instruments Act 2003, section 42 of that Act applies to a declaration under paragraph (1)(b) or (2)(h) of this section.

             (6)  A declaration under paragraph (1)(b) may be expressed to have taken effect on a day not earlier than 12 months before the making of the declaration.

             (7)  If:

                     (a)  a declaration is made under paragraph (1)(b); and

                     (b)  before the start of the 12‑month period ending immediately before the making of the declaration, basic employer contributions were accepted or purportedly accepted in respect of a person to whom the declaration relates;

the declaration may be expressed to have taken effect on a day not earlier than the earliest day on which those contributions were accepted or purportedly accepted.

14  Becoming a member of PSSAP

             (1)  This section sets out the 2 situations in which a person can become a member of PSSAP.

Choice to become a member

             (2)  If a person is eligible to become a member of PSSAP, the person may, in a manner approved by CSC in writing under this subsection, choose to become a member of PSSAP.

             (3)  The effect of making a choice under subsection (2) is that the person becomes a member of PSSAP when the choice is made.

PSSAP is the person’s mandated fund

             (4)  Subject to subsections (5) and (6), if:

                     (a)  at a particular time:

                              (i)  a person is in particular employment or holds a particular statutory office; and

                             (ii)  the person is eligible to be a member of PSSAP because of that employment or holding that office; and

                            (iii)  there is no chosen fund for the person (within the meaning of Part 3A of the Superannuation Guarantee (Administration) Act 1992); and

                            (iv)  assuming that the person were to become a member of PSSAP and the person’s employer (within the meaning of the Superannuation Guarantee (Administration) Act 1992) were to make a basic employer contribution to PSSAP for the benefit of the person, the employer would rely on subsection 32C(2), (4A) or (6) of that Act to satisfy the choice of fund requirements in relation to the contribution; and

                             (v)  the person’s salary or wages (within the meaning of the Superannuation Guarantee (Administration) Act 1992) would be taken into account for the purpose of making a calculation under section 19 of that Act; and

                     (b)  immediately before that time, the person was not a member of PSSAP;

the person is taken to have become a member of PSSAP at that time.

Note 1:       See also section 16 (PSSAP is the sole eligible choice fund in relation to APS employees etc. for certain purposes).

Note 2:       If a person makes an election under section 6B of the Superannuation Act 1990 to cease to be a member of the PSS, and the PSSAP is the person’s mandated fund, the person is taken to become a member of the PSSAP in accordance with this subsection at the time that the election is given to CSC.

             (5)  Subsection (4) does not apply to a person if the person’s employer (within the meaning of the Superannuation Guarantee (Administration) Act 1992):

                     (a)  gives; or

                     (b)  has given; or

                     (c)  proposes to give;

the person a standard choice form (within the meaning of Part 3A of the Superannuation Guarantee (Administration) Act 1992) that sets out the name of a fund (within the meaning of that Part) other than PSSAP that the employer will contribute to if the person does not make a choice.

             (6)  Subsection (4) does not apply to a person at a particular time if:

                     (a)  the following conditions are satisfied:

                              (i)  at that time, the person is the holder of a statutory office (within the meaning of the Superannuation Act 1990);

                             (ii)  the person’s current term of appointment included a day in the financial year beginning on 1 July 2005; or

                     (b)  the following conditions are satisfied:

                              (i)  at that time, the person is a temporary employee (within the meaning of the Superannuation Act 1990);

                             (ii)  if the person’s employment is for a fixed term—the term included a day in the financial year beginning on 1 July 2005;

                            (iii)  if the person’s employment is not for a fixed term—the period of employment included a day in the financial year beginning on 1 July 2005.

15  Duration of membership of PSSAP

             (1)  If a person becomes a member of PSSAP, the person’s membership continues until:

                     (a)  if there is only one occasion on which a benefit is payable to or in respect of the member in accordance with the Rules:

                              (i)  that benefit is paid; or

                             (ii)  if the person dies before that benefit is paid—the death of the person; or

                     (b)  if there are 2 or more occasions on which a benefit is paid to or in respect of the member in accordance with the Rules:

                              (i)  the last of those benefits is paid; or

                             (ii)  if the person dies before the last of those benefits is paid—the death of the person; or

                     (c)  in any other case—the death of the person.

             (2)  A person does not cease to be a member of PSSAP merely because the person ceases to be eligible to become a member of PSSAP.

             (3)  If a person ceases to be a member of PSSAP, this section does not prevent the person from subsequently becoming a member of PSSAP.

16  PSSAP is the sole eligible choice fund in relation to APS employees etc. for certain purposes

             (1)  If:

                     (a)  either:

                              (i)  a person is eligible to become a member of PSSAP because of particular employment; or

                             (ii)  a person is a member of PSSAP, and if the person were not a member of PSSAP, the person would be eligible to become a member because of particular employment; and

                     (b)  that employment is:

                              (i)  employment as an APS employee; or

                             (ii)  specified in a written determination made by the Minister under this subparagraph; and

                     (c)  PSSAP is covered by a paragraph of section 32D of the Superannuation Guarantee (Administration) Act 1992;

then, for the purposes of the application of subsection 32C(2) of the Superannuation Guarantee (Administration) Act 1992 to the person, PSSAP is the sole eligible choice fund for the person’s employer.

Note:          For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

             (2)  A determination under subparagraph (1)(b)(ii) is a legislative instrument for the purposes of the Legislative Instruments Act 2003.

             (3)  Despite anything in section 44 of the Legislative Instruments Act 2003, section 42 of that Act applies to a determination under subparagraph (1)(b)(ii) of this section.

             (4)  In this section:

employment has the same meaning as in the Superannuation Guarantee (Administration) Act 1992.

Note:          See also section 18A of the Acts Interpretation Act 1901 (parts of speech and grammatical forms).


 

Part 4Contributions

  

17  Contributions to PSSAP by designated employers

             (1)  This section applies to a person who is:

                     (a)  an ordinary employer‑sponsored member of PSSAP in respect of particular employment or the holding of a particular office; or

                     (b)  an Australian government superannuation scheme member who has chosen to be a member of PSSAP.

             (2)  The designated employer of the member must pay to CSC, in accordance with the Rules, any contributions that, under the Rules, are payable by the employer in respect of the member.

Note:          See also section 39 (amounts payable to CSC).

18  Ordinary employer‑sponsored member of PSSAP

             (1)  This section sets out the 3 situations in which a person is an ordinary employer‑sponsored member of PSSAP.

PSSAP is the person’s chosen fund

             (2)  If, at a particular time:

                     (a)  a person is a member of PSSAP; and

                     (b)  if the person had not been a member of PSSAP, the person would have been eligible to become a member because of particular employment or holding a particular office; and

                     (c)  assuming that the person’s employer (within the meaning of the Superannuation Guarantee (Administration) Act 1992) were to make a basic employer contribution to PSSAP for the benefit of the person, the employer would rely on subsection 32C(1) of that Act to satisfy the choice of fund requirements in relation to the contribution; and

                     (d)  the person’s salary or wages (within the meaning of the Superannuation Guarantee (Administration) Act 1992) would be taken into account for the purpose of making a calculation under section 19 of that Act;

the person is an ordinary employer‑sponsored member of PSSAP in respect of that employment or the holding of that office.

PSSAP is the person’s mandated fund

             (3)  Subject to subsection (4), if, at a particular time:

                     (a)  a person is a member of PSSAP; and

                     (b)  if the person had not been a member of PSSAP, the person would have been eligible to become a member because of particular employment or holding a particular office; and

                     (c)  there is no chosen fund for the person (within the meaning of Part 3A of the Superannuation Guarantee (Administration) Act 1992); and

                     (d)  assuming that the person’s employer (within the meaning of the Superannuation Guarantee (Administration) Act 1992) were to make a basic employer contribution to PSSAP for the benefit of the person, the employer would rely on subsection 32C(2), (4A) or (6) of that Act to satisfy the choice of fund requirements in relation to the contribution; and

                     (e)  the person’s salary or wages (within the meaning of the Superannuation Guarantee (Administration) Act 1992) would be taken into account for the purpose of making a calculation under section 19 of that Act;

the person is an ordinary employer‑sponsored member of PSSAP in respect of that employment or the holding of that office.

             (4)  Subsection (3) does not apply to a person if the person’s employer (within the meaning of the Superannuation Guarantee (Administration) Act 1992):

                     (a)  gives; or

                     (b)  has given; or

                     (c)  proposes to give;

the person a standard choice form (within the meaning of Part 3A of the Superannuation Guarantee (Administration) Act 1992) that sets out the name of a fund (within the meaning of that Part) other than PSSAP that the employer will contribute to if the person does not make a choice.

Superannuation Guarantee (Administration) Act 1992 does not apply to the person

             (5)  Subject to subsection (6), if:

                     (a)  a person is a member of PSSAP; and

                     (b)  if the person had not been a member of PSSAP, the person would have been eligible to become a member because of particular employment or holding a particular office; and

                     (c)  the person’s salary or wages (within the meaning of the Superannuation Guarantee (Administration) Act 1992) would not be taken into account for the purpose of making a calculation under section 19 of that Act;

the person is an ordinary employer‑sponsored member of PSSAP in respect of that employment or the holding of that office.

             (6)  Subsection (5) does not apply to a person in relation to particular employment or holding a particular office if:

                     (a)  the person has, in a manner approved by CSC in writing under this paragraph, chosen not to be an ordinary employer‑sponsored member of PSSAP in respect of that employment or the holding of that office; and

                     (b)  that choice has not been withdrawn.

19  Designated employers

             (1)  This section applies to a person who is:

                     (a)  an ordinary employer‑sponsored member of PSSAP in respect of particular employment or the holding of a particular office; or

                     (b)  an Australian government superannuation scheme member who has chosen to be a member of PSSAP.

             (2)  For the purposes of this Act, the following table defines the designated employer of the member.

 

Designated employers

Item

In this case...

the designated employer of the member is...

1

(a)  the member is employed by the Commonwealth; and

(b) the remuneration in respect of the member’s employment is paid wholly or mainly out of money appropriated by an annual Appropriation Act in respect of an Agency (within the meaning of the Public Service Act 1999)

the Agency.

2

(a) the member is employed by the Commonwealth; and

(b) the remuneration in respect of the member’s employment is paid wholly or mainly out of money appropriated by an annual Appropriation Act in respect of a Parliamentary Department

the Parliamentary Department.

3

(a) the member is employed by the Commonwealth; and

(b) the remuneration in respect of the member’s employment is paid wholly or mainly out of money appropriated by an Act other than an annual Appropriation Act

(a) an Agency (within the meaning of the Public Service Act 1999) determined by the Minister in writing under this item; or

(b) a Parliamentary Department determined by the Minister in writing under this item.

4

(a) the member is the holder of a statutory office; and

(b) the remuneration in respect of the office is paid by an approved authority

the approved authority.

5

(a) the member is the holder of a statutory office; and

(b) the remuneration in respect of the office is not paid by an approved authority

(a) an Agency (within the meaning of the Public Service Act 1999) determined by the Minister in writing under this item; or

(b) a Parliamentary Department determined by the Minister in writing under this item; or

(c) a person determined by the Minister in writing under this item.

6

none of the above items apply to the member

the authority or body by which the member is employed.

             (3)  A determination under item 3 or 5 of the table in subsection (2) may be expressed to relate to a class of members.

             (4)  A determination under item 3 or 5 of the table in subsection (2) is a legislative instrument for the purposes of the Legislative Instruments Act 2003.

             (5)  Despite anything in section 44 of the Legislative Instruments Act 2003, section 42 of that Act applies to a determination under item 3 or 5 of the table in subsection (2) of this section.


 

Part 5Administration

Division 1CSC

20  Functions and powers

             (1)  The functions and powers of CSC in relation to PSSAP and the PSSAP Fund are those set out in the Trust Deed.

             (2)  CSC is also responsible for the general administration of this Act.

Note:          For other functions of CSC, see section 8 of the Governance of Australian Government Superannuation Schemes Act 2011.

29  Indemnification

             (1)  Anything done, or omitted to be done, in good faith by a person who is a member of a Reconsideration Advisory Committee established under the Trust Deed in the performance of his or her functions under the Trust Deed does not subject him or her personally to any action, liability, claim or demand.

             (2)  Subsection (1) does not prevent CSC from being subject to an action, liability, claim or demand.

Note:          See section 35 of the Governance of Australian Government Superannuation Schemes Act 2011.

             (5)  This section has effect subject to such modifications (if any) as are prescribed by the regulations.

             (6)  The regulations may provide that this section ceases to have effect at a specified time.


 

Division 3Ministerial powers

32  Making of certain legislative instruments

             (1)  This section applies to a declaration, determination or instrument that is:

                     (a)  made by the Minister under this Act (other than section 10 or 16); and

                     (b)  a legislative instrument for the purposes of the Legislative Instruments Act 2003.

             (2)  The Minister may not make the declaration, determination or instrument unless:

                     (a)  CSC has consented to the making of the declaration, determination or instrument; or

                     (b)  the declaration, determination or instrument:

                              (i)  relates to a payment by an employer‑sponsor within the meaning of the Superannuation Industry (Supervision) Act 1993 that will, after the making of the declaration, determination or instrument, be required or permitted to be made under this Act; or

                             (ii)  relates solely to the termination of the PSSAP Fund; or

                            (iii)  is made in circumstances covered by regulations made for the purposes of subparagraph 60(1)(b)(iii) of the Superannuation Industry (Supervision) Act 1993.

             (3)  For the purposes of subparagraph (2)(b)(i), a payment by a designated employer under the Trust Deed or the Rules is taken to be a payment by an employer‑sponsor referred to in that subparagraph.

33  Delegation by Minister

                   The Minister may, by writing, delegate all or any of his or her powers under this Act or the regulations to:

                     (a)  CSC; or

                    (aa)  a director (within the meaning of the Governance of Australian Government Superannuation Schemes Act 2011); or

                     (b)  the CEO of ComSuper; or

                     (c)  a member of the staff of ComSuper in the performance of the CEO’s functions in relation to this Act; or

                     (d)  an APS employee in the Department.


 

Division 4Costs of administration

34  Costs of administration of Act etc.

             (1)  The costs of the administration of this Act and the Trust Deed, including the costs of and incidental to:

                     (a)  the management of the PSSAP Fund by CSC; and

                     (b)  the investment of its money;

are to be paid as the Minister determines in writing under this subsection.

             (2)  A determination under subsection (1) is to identify, whether by amount or otherwise:

                     (a)  those costs payable by the Commonwealth; and

                     (b)  those costs payable by CSC out of the PSSAP Fund.

             (3)  This section has effect subject to such modifications (if any) as are prescribed by the regulations.

             (4)  The regulations may provide that this section ceases to have effect at a specified time.

             (5)  A determination under subsection (1) is a legislative instrument for the purposes of the Legislative Instruments Act 2003, but section 42 of that Act does not apply to the instrument.

35  Estimates

             (1)  CSC may prepare an estimate of the costs referred to in subsection 34(1) that are likely to be incurred in respect of a financial year.

             (2)  CSC, if the Minister by writing under this subsection requests it to do so, must prepare an estimate containing any information requested by the Minister in respect of any of those costs that are referred to in the request.

36  Certain authorities to pay part of estimated costs of administration

             (1)  This section applies if, under subsection 35(1), CSC prepares an estimate of costs for a financial year.

             (2)  The Minister may, by writing, direct an authority or body to pay to the Commonwealth such part of the costs as:

                     (a)  relates to the period specified in the direction; and

                     (b)  is determined by the Minister having regard to such matters (if any) as are prescribed; and

                     (c)  is specified in the direction.

             (3)  The period specified in the direction must be:

                     (a)  the financial year; or

                     (b)  included in the financial year.

             (4)  The Minister must not direct an authority or body under subsection (2) unless, during the period specified in the direction, the authority or body is or will be a designated employer of ordinary employer‑sponsored members of PSSAP.

             (5)  An authority or body that is required to make a payment under subsection (2) may apply for that purpose any money under its control.

             (6)  This section has effect subject to such modifications (if any) as are prescribed by the regulations.

             (7)  The regulations may provide that this section ceases to have effect at a specified time.

37  Payment of fees

             (1)  The regulations may provide that, if a person requests CSC to reconsider one of its decisions under this Act, the regulations or the Trust Deed, the person is liable to pay a fee to CSC.

             (2)  Subsection (1) does not authorise the imposition of taxation within the meaning of section 55 of the Constitution.

             (3)  The regulations may make provision for and in relation to the refund of any fees paid under subsection (1).

38  CSC liable to pay surcharge under the Superannuation Contributions Tax (Assessment and Collection) Act 1997

                   To avoid doubt:

                     (a)  for the purposes of the Superannuation Contributions Tax (Assessment and Collection) Act 1997, CSC in its capacity as a superannuation provider is an entity distinct from the Commonwealth; and

                     (b)  consequently, section 33 of that Act does not affect the liability of CSC under that Act to pay surcharge on the surchargeable contributions of members of PSSAP.


 

Division 5Other administrative matters

39  Amounts payable to the CSC

             (1)  Any amount (including an amount of contributions) that is payable to CSC under this Act or the Rules may be recovered by CSC in a court of competent jurisdiction as a debt.

             (2)  If:

                     (a)  an amount (including an amount of contributions) is payable by a person to CSC under this Act or the Rules; and

                     (b)  the amount remains unpaid after the day on which payment was due;

the person is liable to pay to CSC interest on any such amount that remains unpaid at such rate as CSC determines in writing under this subsection.

             (3)  A determination under subsection (2) is a legislative instrument for the purposes of the Legislative Instruments Act 2003, but section 42 of that Act does not apply to the instrument.

40  Recovery of overpayments

                   If, for any reason (including the making of, or cancellation of, an election under the Rules), CSC has paid an amount of benefit that was, or has become, not payable:

                     (a)  the amount so paid may be recovered by CSC in a court of competent jurisdiction as a debt; or

                     (b)  if the person to whom that amount was paid is receiving, or is entitled to receive, a benefit under the Rules—the amount so paid, or such part of that amount as CSC determines, may, if CSC so directs, be recovered by deduction from that benefit.

41  CSC may rely on information supplied by employers or former employers

             (1)  For the purposes of the Trust Deed in its application to or in respect of a person who is or has been a member of PSSAP, CSC may presume that any information provided to CSC by a designated employer or former designated employer of the person is correct.

             (2)  If a tribunal, authority or person is empowered:

                     (a)  to review a decision of CSC under this Act, the regulations or the Trust Deed; and

                     (b)  to vary, or make a decision in substitution for, CSC’s decision under this Act, the regulations or the Trust Deed;

the tribunal, authority or person is not bound by any presumption made by CSC under subsection (1).

42  CSC may require employers to distribute information etc. to members of PSSAP

             (1)  CSC may:

                     (a)  send to the designated employer of an ordinary employer‑sponsored member of PSSAP any document or written information that under:

                              (i)  this Act; or

                             (ii)  any other Act;

                            CSC is required to send to the member; and

                     (b)  request the designated employer to give the document or information to the member.

             (2)  The designated employer must comply with the request unless doing so would breach Chapter 7 of the Corporations Act 2001.

             (3)  CSC must ensure that the confidentiality of any document or information sent to the designated employer for transmission to the member is preserved.


 

Part 6Miscellaneous

  

43  Ordinary employer‑sponsored member not to be retired on grounds of invalidity without CSC certificate

             (1)  This section applies to a person who is:

                     (a)  under the age of 60; and

                     (b)  an ordinary employer‑sponsored member of PSSAP in respect of particular employment or the holding of a particular office.

             (2)  The member is not capable of being retired from the employment or office on the ground of invalidity unless:

                     (a)  CSC has approved, under the Rules, the invalidity retirement of the member; and

                     (b)  CSC has certified in writing under this paragraph that, if the member is so retired, the member will be entitled to receive invalidity benefits under PSSAP.

             (3)  A reference in subsection (2) to a member being retired from employment or office includes a reference to the services of the member being otherwise terminated.

             (4)  Subsection (2) has effect despite anything contained in any Act, award, determination, agreement or contract of employment.

44  Persons subject to Rules

             (1)  A person who is, or has ceased to be, a member of PSSAP is subject to the Rules to the extent that they are applicable in relation to the person.

             (2)  A person who is, or has ceased to be, a person to whom a benefit is payable under provisions of the Rules authorised by section 12 is subject to the Rules to the extent that they are applicable in relation to the person.

             (3)  An authority or body who is, or has been, the designated employer of an ordinary employer‑sponsored member of PSSAP is subject to the Rules to the extent that they are applicable in relation to the authority or body.

             (4)  The Commonwealth is subject to the Rules to the extent that they are applicable in relation to the Commonwealth because it is, or has been, the designated employer of an ordinary employer‑sponsored member of PSSAP.

45  Regulations

             (1)  The Governor‑General may make regulations prescribing matters:

                     (a)  required or permitted to be prescribed by this Act; or

                     (b)  necessary or convenient to be prescribed for carrying out or giving effect to this Act.

             (2)  Regulations may not be made unless:

                     (a)  CSC has consented to the making of the regulations; or

                     (b)  the regulations:

                              (i)  relate to a payment by an employer‑sponsor within the meaning of the Superannuation Industry (Supervision) Act 1993 that will, after the making of the regulations, be required or permitted to be made under this Act; or

                             (ii)  relate solely to the termination of the PSSAP Fund; or

                            (iii)  are made in circumstances covered by regulations made for the purposes of subparagraph 60(1)(b)(iii) of the Superannuation Industry (Supervision) Act 1993.

             (3)  For the purposes of subparagraph (2)(b)(i), a payment under the Trust Deed or the Rules is taken to be a payment by an employer‑sponsor referred to in that subparagraph.

46  Regulations relating to the operation of the Superannuation Industry (Supervision) Act 1993 and certain other laws

             (1)  The regulations may make any provision that is necessary for the purpose of enabling PSSAP to satisfy any condition or requirement of, or made under, any of the following laws if that law is capable of applying in relation to PSSAP:

                     (a)  the Corporations Act 2001;

                     (b)  the Family Law Act 1975;

                     (c)  the Financial Institutions Supervisory Levies Collection Act 1998;

                     (d)  the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997;

                     (e)  the Superannuation Industry (Supervision) Act 1993;

                      (f)  the Superannuation (Resolution of Complaints) Act 1993;

                     (g)  the Superannuation (Unclaimed Money and Lost Members) Act 1999.

             (2)  If regulations made for the purposes of subsection (1) are inconsistent with a provision of this Act, the regulations prevail and the provision, to the extent of the inconsistency, is of no effect.


Notes to the Superannuation Act 2005

Note 1

The Superannuation Act 2005 as shown in this compilation comprises Act No. 80, 2005 amended as indicated in the Tables below.

For all relevant information pertaining to application, saving or transitional provisions see Table A.

Table of Acts

Act

Number
and year

Date
of Assent

Date of commencement

Application, saving or transitional provisions

Superannuation Act 2005

80, 2005

29 June 2005

29 June 2005

 

Superannuation Legislation Amendment (Trustee Board and Other Measures) Act 2006

51, 2006

9 June 2006

Schedule 1 (items 60–63,
66–84): 1 July 2006

Sch. 1 (items
66–84)

Superannuation Legislation Amendment (Superannuation Safety and Other Measures) Act 2006

112, 2006

23 Oct 2006

Schedule 1 (items 26–28): Royal Assent

Superannuation Legislation Amendment Act 2007

165, 2007

25 Sept 2007

Schedule 2 (items 4–6): 1 July 2008

Statute Law Revision Act 2011

5, 2011

22 Mar 2011

Schedule 6 (item 134): 19 Apr 2011

Acts Interpretation Amendment Act 2011

46, 2011

27 June 2011

Schedule 2 (item 1084): [see (a) and Note 2]
Schedule 2 (items 1085, 1086): (a)
Schedule 3 (items 10, 11): [see Table A]

Sch. 3 (items 10, 11)

Superannuation Legislation (Consequential Amendments and Transitional Provisions) Act 2011

58, 2011

28 June 2011

Schedule 1 (items 222–239, 247(4)): (b)


(a)     Subsection 2(1) (items 2, 9 and 10) of the Acts Interpretation Amendment Act 2011 provides as follows:

                 (1)   Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provision(s)

Commencement

Date/Details

2.  Schedule 1

A single day to be fixed by Proclamation.

However, if any of the provision(s) do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

9.  Schedule 2, item 1084

The later of:

(a) immediately after the commencement of the provision(s) covered by table item 2; and

(b) immediately after the commencement of item 222 of Schedule 1 to the Superannuation Legislation (Consequential Amendments and Transitional Provisions) Act 2011.

However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur.

[see Note 2]

(paragraph (a) applies)

10.  Schedule 2, items 1085 and 1086

At the same time as the provision(s) covered by table item 2.

However, if item 234 of Schedule 1 to the Superannuation Legislation (Consequential Amendments and Transitional Provisions) Act 2011 commences at or before that time, the provision(s) do not commence at all.

Do not commence

(b)     Subsection 2(1) (item 2) of the Superannuation Legislation (Consequential Amendments and Transitional Provisions) Act 2011 provides as follows:

                 (1)   Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Provision(s)

Commencement

Date/Details

2.  Schedules 1 and 2

Immediately after the commencement of section 2 of the Governance of Australian Government Superannuation Schemes Act 2011.

1 July 2011


Table of Amendments

ad. = added or inserted     am. = amended     rep. = repealed     rs. = repealed and substituted

Provision affected

How affected

Part 1

 

S. 3......................................

am. No. 51, 2006; No. 58, 2011

S. 4......................................

am. Nos. 5 and 58, 2011

Part 2

 

S. 12....................................

am. No. 58, 2011

Part 3

 

S. 13....................................

am. No. 165, 2007; No. 58, 2011

S. 14....................................

am. No. 58, 2011

Note to s. 14(4)
Renumbered Note 1.......


No. 165, 2007

Note 2 to s. 14(4)................

ad. No. 165, 2007

 

am. No. 58, 2011

Part 4

 

S. 17....................................

am. No. 58, 2011

Note to s. 17(2)...................

am. No. 58, 2011

Ss. 18, 19............................

am. No. 58, 2011

Part 5

 

Division 1

 

Heading to Div. 1 of Part 5

rs. No. 58, 2011

S. 20....................................

rs. No. 58, 2011

Note to s. 20(2)...................

am. No. 51, 2006

 

rs. No. 58, 2011

Ss. 21–27............................

rep. No. 58, 2011

S. 28....................................

am. No. 112, 2006

 

rep. No. 58, 2011

Heading to s. 29.................

am. No. 58, 2011

S. 29....................................

am. No. 58, 2011

Note to s. 29(2)...................

ad. No. 58, 2011

Div. 2 of Part 5....................

rep. No. 58, 2011

Ss. 30, 31............................

rep. No. 58, 2011

Division 3

 

Ss. 32, 33............................

am. No. 58, 2011

Division 4

 

Ss. 34–36............................

am. No. 58, 2011

S. 37....................................

am. No. 51, 2006; No. 58, 2011

Heading to s. 38.................

am. No. 58, 2011

S. 38....................................

am. No. 58, 2011

Division 5

 

Heading to s. 39.................

am. No. 58, 2011

Ss. 39, 40............................

am. No. 58, 2011

Heading to s. 41.................

am. No. 58, 2011

S. 41....................................

am No. 51, 2006; No. 58, 2011

Heading to s. 42.................

am. No. 58, 2011

S. 42....................................

am. No. 58, 2011

Part 6

 

Heading to s. 43.................

am. No. 58, 2011

S. 43....................................

am. No. 58, 2011

S. 45....................................

am. No. 58, 2011


Note 2

Acts Interpretation Amendment Act 2011 (No. 46, 2011)

The following amendment commences on 27 December 2011 unless proclaimed earlier:

Schedule 2

1084  Subsection 4(1) (definition of modifications)

Repeal the definition.

As at 15 July 2011 the amendment is not incorporated in this compilation.


Table A

Application, saving or transitional provisions

Superannuation Legislation Amendment (Trustee Board and Other Measures) Act 2006 (No. 51, 2006)

Schedule 1

66  Definitions

(1)       In this Part:

acquisition of property has the same meaning as in paragraph 51(xxxi) of the Constitution.

amend includes repeal and remake.

asset means:

                     (a)  any legal or equitable estate or interest in real or personal property, whether actual, contingent or prospective; and

                     (b)  any right, power, privilege or immunity, whether actual, contingent or prospective.

assets official, in relation to an asset other than land, means the person or authority who, under a law of the Commonwealth, a State or a Territory, under a trust instrument or otherwise, has responsibility for keeping a register in relation to assets of the kind concerned.

Australian Reward Investment Alliance means the board established under section 20 of the Superannuation Act 1990 immediately after the commencement time.

commencement time means the time when this Part commences.

CSS Board means the CSS Board established under section 27A of the Superannuation Act 1976 immediately before the commencement time.

financial liability means a liability to pay a person an amount, where the amount, or the method for working out the amount, has been determined.

instrument:

                     (a)  includes:

                              (i)  a contract, deed, undertaking or agreement; and

                             (ii)  a notice, authority, order or instruction; and

                            (iii)  an instrument made under an Act or regulations; and

                            (iv)  regulations; but

                     (b)  does not include an Act.

just terms has the same meaning as in paragraph 51(xxxi) of the Constitution.

land means any legal or equitable estate or interest in real property, whether actual, contingent or prospective.

land registration official, in relation to land, means the Registrar of Titles or other proper officer of the State or Territory in which the land is situated.

liability means any liability, duty or obligation, whether actual, contingent or prospective.

(2)       Subject to subitem (1), an expression used in this Part that is also used in the Superannuation Act 1976, the Superannuation Act 1990, or the Superannuation Act 2005, as amended by this Schedule, has the same meaning in this Part as it has in that Act.

67  Vesting of assets of CSS Board

(1)       This item applies to the assets of the CSS Board (whether the assets are in Australia or elsewhere) immediately before the commencement time.

(2)       At the commencement time, the assets to which this item applies cease to be assets of the CSS Board and become assets of the Australian Reward Investment Alliance without any conveyance, transfer or assignment. The Australian Reward Investment Alliance becomes the successor in law in relation to these assets.

68  Vesting of liabilities of CSS Board

(1)       This item applies to the liabilities of the CSS Board (whether the liabilities arose in Australia or elsewhere) immediately before the commencement time.

(2)       At the commencement time, the liabilities to which this item applies cease to be liabilities of the CSS Board and become liabilities of the Australian Reward Investment Alliance without any conveyance, transfer or assignment. The Australian Reward Investment Alliance becomes the successor in law in relation to these liabilities.

69  Certificates relating to vesting of land

(1)       This item applies if:

                     (a)  any land vests in the Australian Reward Investment Alliance under this Part; and

                     (b)  there is lodged with a land registration official a certificate that:

                              (i)  is signed by the Chairperson; and

                             (ii)  identifies the land, whether by reference to a map or otherwise; and

                            (iii)  states that the land has become vested in the Australian Reward Investment Alliance under this Part.

Note:       Certificates under paragraph (1)(b) are presumed to be authentic: see item 85.

(2)       The land registration official may:

                     (a)  register the matter in a way that is the same as, or similar to, the way in which dealings in land of that kind are registered; and

                     (b)  deal with, and give effect to, the certificate.

70  Certificates relating to vesting of assets other than land

(1)       This item applies if:

                     (a)  any asset other than land vests in the Australian Reward Investment Alliance under this Part; and

                     (b)  there is lodged with an assets official a certificate that:

                              (i)  is signed by the Chairperson; and

                             (ii)  identifies the asset; and

                            (iii)  states that the asset has become vested in the Australian Reward Investment Alliance under this Part.

Note:       Certificates under paragraph (1)(b) are presumed to be authentic: see item 85.

(2)       The assets official may:

                     (a)  deal with, and give effect to, the certificate as if it were a proper and appropriate instrument for transactions in relation to assets of that kind; and

                     (b)  make such entries in the register as are necessary having regard to the effect of this Part.

71  Substitution of Australian Reward Investment Alliance as a party to pending proceedings

If any proceedings to which the CSS Board was a party were pending in any court or tribunal immediately before the commencement time, the Australian Reward Investment Alliance is substituted for the CSS Board, from the commencement time, as a party to the proceedings.

72  Transfer of custody of CSS Board records

(1)       This item applies to any records or documents that, immediately before the commencement time, were in the custody of the CSS Board.

(2)       The records and documents are to be transferred into the custody of the Australian Reward Investment Alliance at or after the commencement time.

73  Continuity of the Australian Reward Investment Alliance

The amendments made by Part 1 of this Schedule do not affect:

                     (a)  the continuity, after that Part commences, of the existence of the body that is renamed by those amendments as the Australian Reward Investment Alliance; or

                     (b)  the continuing validity of the appointment of the trustees.

74  Membership of the Australian Reward Investment Alliance

Employer representative

(1)       The person who is the member of the CSS Board referred to in subsection 27F(2) of the Superannuation Act 1976 immediately before the commencement time:

                     (a)  is taken to have been duly appointed to the Australian Reward Investment Alliance by the Minister under paragraph 4.1(a) of the Trust Deed (within the meaning of the Superannuation Act 1990) for the balance of the person’s term of appointment; and

                     (b)  is taken to have been so appointed on the same terms and conditions as applied to the person immediately before the commencement time.

Employee representative

(2)       The person who is the member of the CSS Board referred to in subsection 27F(3) of the Superannuation Act 1976 immediately before the commencement time:

                     (a)  is taken to have been duly appointed to the Australian Reward Investment Alliance by the Minister under paragraph 4.1(b) of the Trust Deed (within the meaning of the Superannuation Act 1990) for the balance of the person’s term of appointment; and

                     (b)  is taken to have been so appointed on the same terms and conditions as applied to the person immediately before the commencement time.

Variation of terms and conditions

(3)       Paragraphs (1)(b) and (2)(b) do not prevent a person’s terms and conditions from being varied after the commencement time:

                     (a)  in accordance with those terms and conditions; or

                     (b)  by or under a law, award, determination or agreement.

(4)       In this item:

vary, in relation to terms and conditions, includes:

                     (a)  omitting any of those terms and conditions; or

                     (b)  adding to those terms and conditions; or

                     (c)  substituting new terms or conditions for any of those terms and conditions.

75  References in Acts and instruments to the CSS Board

If:

                     (a)  an Act or instrument is in force immediately before the commencement time; and

                     (b)  the Act or instrument contains a reference to the CSS Board;

the Act or instrument has effect from the commencement time as if the reference to the CSS Board were a reference to the Australian Reward Investment Alliance.

Note:       During the first year after this item commences, instruments can retrospectively amend references to the CSS Board: see item 83.

76  Operation of laws

(1)       If, before the commencement time, a thing was done by, or in relation to, the CSS Board, then, for the purposes of the operation of any law of the Commonwealth after the commencement time, the thing is taken to have been done by, or in relation to, the Australian Reward Investment Alliance.

(2)       For the purposes of subitem (1), a thing done before the commencement time under a provision that is amended by this Act has effect from that time as if it were done under that provision as amended. However, this is not taken to change the time at which the thing was actually done.

Meaning of doing

(3)       To avoid doubt, for the purposes of this item, doing a thing includes making an instrument.

77  Continued effect of delegations made under the old law

(1)       A delegation made under section 27Q of the Superannuation Act 1976 that is in force immediately before the commencement time continues in effect after that time as if it had been made under section 27Q of that Act, as amended by this Schedule.

(2)       The amendments made to:

                     (a)  section 165 of the Superannuation Act 1976; or

                     (b)  section 28A of the Superannuation Act 1990;

do not affect the continuity of a delegation or sub‑delegation made under that section.

78  Financial statements and other reporting requirements

Reporting requirements

(1)       If:

                     (a)  immediately before the commencement time, a law required the CSS Board to provide a report (whether financial statements or otherwise) for a period; and

                     (b)  the period ends after the commencement time;

the Australian Reward Investment Alliance must provide the report, as required, for so much of the period as occurs before the commencement time.

(2)       If:

                     (a)  under subitem (1), the Australian Reward Investment Alliance is required to provide a report for a part of a period; and

                     (b)  the Australian Reward Investment Alliance is also required to provide a similar report for the remainder of the period;

the Australian Reward Investment Alliance may meet the requirements in a single report for the period.

Outstanding reporting requirements

(3)       If:

                     (a)  a law required the CSS Board to provide a report (whether financial statements or otherwise) for a period that ended before the commencement time; and

                     (b)  the report has not been provided by the commencement time;

the Australian Reward Investment Alliance must provide the report as required.

79  CGT roll‑over—transfer of CSS Fund assets to pooled superannuation trust

Object

(1)       The object of this item is to provide for a CGT roll‑over so as to facilitate the exercise by the Australian Reward Investment Alliance of its powers under section 27C of the Superannuation Act 1976 in relation to the CSS Fund to operate a pooled superannuation trust, known as the PSS Investments Trust, that is used for investing the assets of the CSS Fund.

Roll‑over

(2)       There is a roll‑over if:

                     (a)  one or more CGT events happen because the Australian Reward Investment Alliance ceases to hold all of the CGT assets of the CSS Fund; and

                     (b)  because of the cessation, CGT assets (the identical assets) that, together, are identical to all the CGT assets of the CSS Fund just before the happening of the CGT events start to be held by the trustee (the transferee trustee) of the PSS Investments Trust (whether or not all the identical assets were assets of the CSS Fund just before the CGT events); and

                     (c)  the cessation is part of a scheme under which CGT assets of the CSS Fund are replaced with units in the PSS Investments Trust.

Note:       The transferee trustee may be the Australian Reward Investment Alliance: see subsection 960‑100(3) of the Income Tax Assessment Act 1997.

(3)       A capital gain or capital loss the Australian Reward Investment Alliance makes from each of the CGT events is disregarded.

(4)       For the transferee trustee, the first element of the cost base of each of the identical assets the transferee trustee holds is the cost base of the corresponding asset for the Australian Reward Investment Alliance at the time of the relevant CGT event.

(5)       For the transferee trustee, the first element of the reduced cost base of each of the identical assets the transferee trustee holds is the reduced cost base of the corresponding asset for the Australian Reward Investment Alliance at the time of the relevant CGT event.

(6)       For the purposes of the Income Tax Assessment Act 1997, a roll‑over covered by this item is taken to be a same‑asset roll‑over.

Interpretation

(7)       An expression used in this item and in the Income Tax Assessment Act 1997 has the same meaning in this item as it has in that Act.

80  References in Acts and instruments to PSS Board

If:

                     (a)  an Act or an instrument is in force immediately before the commencement time; and

                     (b)  the Act or instrument contains a reference to the PSS Board;

the Act or instrument has effect from the commencement time as if the reference to the PSS Board were a reference to the Australian Reward Investment Alliance.

Note:       During the first year after this item commences, instruments can retrospectively amend references to the PSS Board: see item 83.

81  Amending instruments may be retrospective

(1)       If:

                     (a)  an instrument is made within the period of 12 months beginning on the day on which this item commences; and

                     (b)  a provision of the instrument amends a reference to the PSS Board or the CSS Board in any other instrument;

the provision may be expressed to take effect from the day that this item commences, or a later day in the period referred to in paragraph (a), that occurs before the instrument is made.

(2)       This item has effect despite subsection 12(2) of the Legislative Instruments Act 2003.

82  Constitutional safety net—acquisition of property

(1)       If the operation of this Part would result in an acquisition of property from a person otherwise than on just terms, the Commonwealth is liable to pay a reasonable amount of compensation to the person.

(2)       If the Commonwealth and the person do not agree on the amount of the compensation, the person may institute proceedings in a court of competent jurisdiction for the recovery from the Commonwealth of such reasonable amount of compensation as the court determines.

83  Certificates taken to be authentic

A document that appears to be a certificate made or issued under a particular provision of this Part:

                     (a)  is taken to be such a certificate; and

                     (b)  is taken to have been properly given;

unless the contrary is established.

84  Regulations

(1)       The Governor‑General may make regulations prescribing matters:

                     (a)  required or permitted by this Part to be prescribed; or

                     (b)  necessary or convenient to be prescribed for carrying out or giving effect to this Part.

(2)       In particular, regulations may be made prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments or repeals made by this Act.

Note:       During the first year after this item commences, regulations can retrospectively amend references to the CSS Board or the PSS Board: see item 83.

 

Acts Interpretation Amendment Act 2011 (No. 46, 2011)

The following provisions commence on 27 December 2011 unless proclaimed earlier:

Schedule 3

10  Saving—appointments

The amendments made by Schedule 2 do not affect the validity of an appointment that was made under an Act before the commencement of this item and that was in force immediately before that commencement.

11  Transitional regulations

The Governor‑General may make regulations prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments and repeals made by Schedules 1 and 2.