Statutory Rules 1995 No. 4391
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Superannuation (Transfer Arrangements) Regulations2 (Amendment)
I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Superannuation Act 1976.
Dated 20 December 1995.
BILL HAYDEN
Governor-General
By His Excellency’s Command,
KIM C. BEAZLEY
Minister for Finance
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1. Commencement
1.1 These Regulations commence on 1 March 1996.
2. Amendment
2.1 The Superannuation (Transfer Arrangements) Regulations are amended as set out in these Regulations.
3. Regulation 1 (Citation)
3.1 Omit “Superannuation (Transfer Arrangements)”, substitute “Superannuation (CSS) Transfer Arrangements”.
4. New regulation 15
4.1 After regulation 14, insert:
Application of Act to certain persons who become members of the Public Sector Superannuation Scheme
“15. The Act is modified in accordance with Schedule 12 in its application to a person to whom section 126A of the Act applies by reason of the person:
(a) having ceased to be an eligible employee; and
(b) having become a member of the Public Sector Superannuation Scheme;
following the making of a declaration and election referred to in paragraph 4 (1) (zo) of the Superannuation (CSS) Eligible Employees Regulations or subregulation 4A (1) of the Superannuation (CSS) Continuing Contributions for Benefits Regulations.”.
5. New Schedule 12
5.1 Add at the end:
“SCHEDULE 12 Regulation 15
modification—transfer to membership of the public sector superannuation scheme
1. Section 246 (Loss of entitlement to benefits)
1.1 Omit ‘section 245’, substitute ‘paragraph 4 (1) (zo) of the Superannuation (CSS) Eligible Employees Regulations or subregulation 4A (1) of the Superannuation (CSS) Continuing Contributions for Benefits Regulations’.
2. Section 247 (Revocation of election in certain cases)
2.1 Omit the section, substitute:
Revocation of election in certain cases
‘247. If:
(a) a person has ceased to be an eligible employee by reason of making a declaration and election referred to in:
(i) paragraph 4 (1) (zo) of the Superannuation (CSS) Eligible Employees Regulations; or
(ii) subregulation 4A (1) of the Superannuation (CSS) Continuing Contributions for Benefits Regulations; and
(b) after the person made that declaration and election, the PSS Board notifies the person that:
(i) the CSS average salary of the person for the purpose of the Rules for the administration of the Public Sector Superannuation Scheme has been ascertained by the PSS Board in the exercise of a discretion given to it under the Rules rather than by reference to objective criteria specified in the Rules; or
(ii) that an amount previously notified to the person as the person’s CSS average salary for the purpose of those Rules was incorrect;
SCHEDULE 12—continued
then:
(c) the person may, within 3 months after receiving that notification, in writing addressed to the Board, revoke the declaration and election; and
(d) on the making of the revocation, this Act has effect as if the declaration and election had not been made.’.
3. Section 248 (Transfer of assets etc. to Public Sector Superannuation Scheme)
3.1 Subsection 248 (1):
Omit ‘30 June 1991’, substitute ‘31 August 1996’.
3.2 Paragraph 248 (1) (a):
Omit ‘section 245’, substitute ‘paragraph 4 (1) (zo) of the Superannuation (CSS) Eligible Employees Regulations or subregulation 4A (1) of the Superannuation (CSS) Continuing Contributions for Benefits Regulations’.”.
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NOTES
1. Notified in the Commonwealth of Australia Gazette on 22 December 1995.
2. Statutory Rules 1978 No. 255 as amended by 1980 No. 257; 1981 No. 4: 1984 No. 404; 1985 No. 74; 1986 Nos. 90 and 311; 1988 No. 317; 1989 No. 303; 1990 Nos. 140 and 271; 1991 No. 169; 1992 No. 270; 1993 No. 346; 1995 No. 96.