Statutory Rules 1997   No. 71¹

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Superannuation (PSS) Membership Exclusion Declaration² (Amendment)

I, JOHN FAHEY, Minister for Finance, make the following Declaration under paragraph 6 (2) (c) of the Superannuation Act 1990.

Dated 18 March 1997.

JOHN FAHEY

Minister for Finance

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1.   Amendment

1.1   The Superannuation (PSS) Membership Exclusion Declaration is amended as set out in this Declaration.

[NOTE: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.]

2.   Clause 3 (Interpretation)

2.1   Subclause 3 (1) (definition of “top-up arrangement”):

Omit the definition, substitute:

“‘top-up arrangement’ means an arrangement in relation to the employment of, or the holding of an office by, a person (‘the payee’):

             (a)   under which:

                          (i)   another person (‘the payer’) contributes, on behalf of the payee, to a superannuation scheme (which may be a scheme that applies only to the payee) under which superannuation or retirement benefits are payable to, or in relation to, the payee; and

                         (ii)   the contributions are part of, and not additional to, the payee’s overall remuneration package provided by the payer; and

             (b)   that is entered into on the basis that:

                          (i)   the payee continues to be, or becomes, a member of the Public Sector Superannuation Scheme; and

                         (ii)   the payer continues to be, or becomes, the designated employer of the payee;

                     in relation to that employment or holding of office.”.

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NOTES

1.   Notified in the Commonwealth of Australia Gazette on 8 April 1997.

2.   Statutory Rules 1995 No. 217 as amended by 1995 No. 233; 1996 Nos. 4 and 172.