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Determination by the Minister for Finance and Administration under section 5(7) of the Financial Management Legislation Amendment Act 1999 and section 20 of the Financial Management and Accountability Act 1997 - ComSuper Special Account (14/06/2002)

Authoritative Version
2002/05 Determinations/Financial (Other) as made
This Determination establishes the ComSuper Special Account which provides for the expenditure of monies related to the provision of administration, accounting and other support services to or on behalf of the CSS and PSS Boards and the Military Superannuation and Benefits Board of Trustees No. 1, the administration of any functions conferred on the Commissioner for Superannuation under any legislation, the transfer of the CSS Board's share of revenue as agreed between the Commissioner for Superannuation and the CSS Board, and the transfer of the PSS Board's share of revenue as agreed between the Commissioner for Superannuation and the PSS Board.
Administered by: Finance
General Comments: This Determination takes effect on the day immediately after the last day on which a House of Parliament could have passed a resolution disallowing it (see s 22(4) of the Financial Management and Accountability Act 1997). This Determination abolishes the Commonwealth Superannuation Administration Account (see FRLI No. F2006B11644). The ComSuper Special Account was abolished by the Financial Management and Accountability Determination 2007/03 - ComSuper Special Account Variation and Abolition 2007 (see FRLI No. F2007L01695).
Exempt from sunsetting by the Financial Management and Accountability Act 1997 s 20(6), Financial Management and Accountability Act 1997 s 20(7)
Registered 28 Nov 2006
Tabling HistoryDate
Tabled HR18-Jun-2002
Tabled Senate19-Jun-2002
Date of repeal 19 Mar 2014
Repealed by Finance (Spent and Redundant Instruments) Repeal Regulation 2014

DETERMINATION BY THE MINISTER FOR FINANCE AND ADMINISTRATION UNDER SECTION 5(7) OF THE FINANCIAL MANAGEMENT LEGISLATION AMENDMENT ACT 1999 AND SECTION 20 OF THE FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997

 

ComSuper Special Account

 

I, Nick Minchin, Minister for Finance and Administration:

 

(1)          pursuant to section 5(7) of the Financial Management Legislation Amendment Act 1999 ('the Amendment Act') and section 20(3) of the Financial Management and Accountability Act 1997, hereby abolish, as of 1 July 2002, the Commonwealth Superannuation Administration Account ('the former Account'), which was originally established as a component of the Commercial Activities Fund by a determination of Mr Graham Millar dated 12 May 1998 and converted to a Special Account under section 5(3) of the Amendment Act; and

(2)          pursuant to section 20 of the Financial Management and Accountability Act 1997, hereby:

(A)        establish a Special Account to be called the ComSuper Special Account ('the Account');

(B)         determine:

(a)             that the closing balance of the former Account must be credited to the Account; and

(b)             that the following amounts may be credited to the Account:

(i)             all amounts appropriated for the purposes of the Account;

(ii)           all amounts received by ComSuper as revenue in the course of the performance by the Commissioner of Superannuation of the Commissioner's functions;

(iii)          all amounts received by ComSuper in relation to the administration by the CSS Board or the PSS Board of the CSS Scheme or the PSS Scheme, respectively;

(C)        determine that amounts may be debited to the Account for expenditure, or a transfer within the Consolidated Revenue Fund, relating to any of the following purposes:

(a)             the provision of administration, accounting and other support services to or on behalf of the CSS Board;

(b)             the provision of administration, accounting and other support services to or on behalf of the PSS Board;

(c)             the provision of administration, accounting and other support services to or on behalf of the Military Superannuation and Benefits Board of Trustees No. 1;

(d)             the administration of any functions conferred on the Commissioner for Superannuation under any legislation, including the Superannuation Act 1922, the Defence Force Retirement and Death Benefits Act 1973, the Defence Forces Retirement Benefits Act 1948, the Papua New Guinea (Staffing Assistance) Act 1973 and the Superannuation Act 1976;

(e)             the transfer of the CSS Board's share of revenue, as agreed between the Commissioner for Superannuation and the CSS Board;

(f)               the transfer of the PSS Board's share of revenue, as agreed between the Commissioner for Superannuation and the PSS Board; and

(C)    determine that no credits to, or debits of, the Account take place before 1 July 2002.

 

 

 

Nick Minchin

Minister for Finance and Administration

14 June 2002