THIS DEED is made on 26 June 2002 by THE COMMONWEALTH OF AUSTRALIA (in this Deed called “the Commonwealth”).
WHEREAS the Commonwealth Minister of State for Finance, for and on behalf of the Commonwealth, pursuant to section 4 of the Superannuation Act 1990, established by Deed dated 21 June 1990 (which Deed, as previously amended, is in this Deed called “the Trust Deed”) an occupational superannuation scheme (in the Trust Deed called the “Public Sector Superannuation Scheme”) in order to provide benefits for certain of its employees and for certain other persons;
AND WHEREAS section 5 of the Superannuation Act 1990 provides that the Minister for Finance and Administration may, by signed instrument, amend the Trust Deed but that the Minister may not amend the Trust Deed unless the Board has consented to the amendment or the amendment falls within any of sub-paragraphs (b)(i), (ii) or (iii) of sub-section 5(1A);
AND WHEREAS by Deeds dated 21 June 1990, 1 July 1991, 30 June 1992, 21 December 1992, 16 June 1993, 24 January 1994, 7 March 1994, 28 June 1994, 22 June 1995, 29 January 1996, 10 December 1996, 25 March 1998, 5 December 1999, 20 August 2001 and 25 September 2001 (the First, Second, Third, Fourth, Fifth, Sixth, Seventh, Eighth, Ninth, Tenth, Eleventh, Twelfth, Thirteenth, Fourteenth and Fifteenth Amending Deeds, respectively) the Minister amended the Trust Deed and the Rules for the administration of the Public Sector Superannuation Scheme set out in the Schedule to the Trust Deed;
NOW THIS DEED WITNESSES that the Rules for the administration of the Public Sector Superannuation Scheme set out in the Schedule to the Trust Deed are amended as follows and that the amendments do not require the consent of the PSS Board:
1. The amendments of the Rules made by this Deed come into effect on the later of:
(a) the date of gazettal [see the Acts Interpretation Act 1901, sections 46A and 48]; and
(b) 1 July 2002.
2. The Rules are amended as follows:
2.1 Rule 4.1.1 is replaced with the following Rule:
“4.1.1 A member must pay contributions on each contribution day occurring during his/her period of membership, except contribution days occurring:
(a) on or after becoming a maximum benefits member (see Rule 4.1.5); or
(b) during a continuous period of leave of absence without pay exceeding 12 weeks that is not an excluded period of leave of absence (see Rule 4.2.1); or
(c) during a period of maternity or parental leave of absence without pay, unless the member has chosen to pay contributions (see Rule 4.2.6); or
(d) when the PSS Fund is prohibited by the SIS Act from receiving those contributions (see Rule 4.1.5); or
(e) on or after the date he/she reaches age 70 (see Rule 4.1.5).”
2.2 Rule 4.1.5 is replaced with the following Rule:
“4.1.5 A member is not permitted to pay contributions under this Part in respect of any contribution day occurring:
(a) after he/she becomes a maximum benefits member; or
(b) when the PSS Fund is prohibited by the SIS Act from receiving those contributions; or
(c) on or after the date he/she reaches age 70.”
2.3 Paragraph (e) of Rule 8.1.1 is replaced with the following paragraph:
“(e) the date the Board is satisfied he/she has departed Australia permanently, provided that the payment is permitted by the SIS Act; or”
IN WITNESS WHEREOF this Deed has been executed the day and year first hereinbefore written.
SIGNED, SEALED AND DELIVERED )
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by the Honourable NICHOLAS HUGH MINCHIN ) SIGNED
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Minister for Finance and Administration )
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for and on behalf of )
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THE COMMONWEALTH OF )
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AUSTRALIA, in the presence of: )
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(name) ) Nathan Williamson
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(address) ) 37 Rosebery Street
) FISHER ACT 2611
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(description) ) Public Servant
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