TWENTY-SIXTH AMENDMENT

of the

PUBLIC SECTOR SUPERANNUATION SCHEME TRUST DEED

THIS DEED is made on 22 August `05 by THE COMMONWEALTH OF AUSTRALIA.

WHEREAS section 4 of the Superannuation Act 1990 (the Act) provides for the Minister to establish an occupational superannuation scheme to be administered by the Board established under section 20 of the Act (the Board);

AND WHEREAS the Public Sector Superannuation Scheme was established by Trust Deed dated 21 June 1990[1];

AND WHEREAS the Schedule to the Trust Deed contains Rules for the administration of the Scheme;

AND WHEREAS section 5 of the Act provides for the Minister, by instrument in writing, to amend the Trust Deed, and requires the consent of the Board to amendments in certain circumstances;

AND WHEREAS the consent of the Board is not required to the amendments provided for in this Deed;

NOW THIS DEED WITNESSES as follows:

1.            The amendments to the Rules made by this Deed come into effect on the day on which the Superannuation Laws Amendment (Abolition of Surcharge) Act 2005 receives the Royal Assent.

2.            This Deed is to be read as if it formed part of the Trust Deed and, where the context requires or admits, a word or phrase in this Deed has the same meaning that it has in the Trust Deed.

3.            The Rules are amended as follows:

3.1          Paragraphs B12.2.9(c) and B12.2.9(d) are deleted and the following paragraph substituted:

“(c)      12.5% of the employer-financed component of any part of the benefits payable to the person that accrued in the 2004-2005 financial year.”

IN WITNESS WHEREOF this Deed has been executed the day and year first hereinbefore written.

SIGNED, SEALED AND DELIVERED                      )

                                                                                    )

by the Honourable NICHOLAS HUGH MINCHIN     )           Nick Minchin

                                                                                    )

Minister for Finance and Administration             )

                                                                                    )

for and on behalf of                                                       )

                                                                                    )

THE COMMONWEALTH OF                                   )

                                                                                    )

AUSTRALIA, in the presence of:                                 )

                                                                                    )

                                                                                    )

                        (name)                                                  )           CHRIS KEANE

                                                                                    )

                                                                                    )

                        (address)                                              )           20 CLIFTON ST

                                                                                    )           PROSPECT  5082

                                                                                    )

                        (description)                                         )           ADVISER

                                                                                    )

Note to the Deed:

TABLE LISTING TRUST DEED AND AMENDING DEEDS

Before 1 January 2005, section 45 of the Superannuation Act 1990 provided, in part, that instruments under subsection 5(1) amending the Trust Deed were disallowable instruments for the purposes of section 46A of the Acts Interpretation Act 1901. The effect of these provisions was that amending instruments were required to be notified in the Gazette and take effect from the date of gazettal (unless the instrument provided otherwise).

From 1 January 2005, paragraph 6(d) of the Legislative Instruments Act 2003 declared disallowable instruments (such as the instruments amending the Trust Deed) to be legislative instruments. Legislative instruments are registered on the Federal Register of Legislative Instruments instead of being notified in the Gazette.