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Approvals as made
In this Approval, the Attorney-General amends Schedule 3 of the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003, providing for alternative methods for valuing, for the purposes of the Family Law Act 1975, superannuation interests held in Victorian public sector superannuation schemes, to reflect changed arrangements for those schemes in Victoria.
Administered by: Attorney-General's
Exempt from sunsetting by the Legislative Instruments Act 2003 s 54(2) item 42
Made 19 Apr 2006
Registered 27 Apr 2006
Tabled HR 09 May 2006
Tabled Senate 09 May 2006
Date of repeal 09 Apr 2013
Repealed by Attorney-General's (Spent and Redundant Instruments) Repeal Regulation 2013

I, PHILIP MAXWELL RUDDOCK, Attorney‑General, make this Approval under regulations 38 and 43A of the Family Law (Superannuation) Regulations 2001.

Dated 19 April 2006

PHILIP RUDDOCK


1              Name of Approval

                This Approval is the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Amendment Approval 2006 (No. 3).

2              Commencement

                This Approval commences on the day after it is registered.

3              Amendment of Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003

                Schedule 1 amends the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003.


Schedule 1        Amendments

(section 3)

  

[1]           Schedule 3, Division 1.1, clause 1, definition of new scheme member

omit

State Superannuation Fund of Victoria.

insert

superannuation scheme established by the SS Act.

[2]           Schedule 3, Division 1.1, clause 1, definition of SS Fund

omit

[3]           Schedule 3, Division 1.2, clause 2

omit everything before the table, insert

2              Methods and factors for interests of new scheme members in superannuation scheme established by SS Act

                For an interest, or a component of an interest, of a new scheme member that is in the growth phase in the superannuation scheme established by the SS Act and that is mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.

[4]           Schedule 3, Division 1.3, clause 3

omit everything before the table, insert

3              Methods and factors for interests of new scheme members in superannuation scheme established by SS Act

                For an interest of a new scheme member that is in the payment phase in the superannuation scheme established by the SS Act and that is mentioned in an item in the following table, the method or factor mentioned in an item is approved for section 4 of this approval.

[5]           Schedule 3, Part 2, clause 1

before the definition of new scheme, insert

Emergency Services Superannuation Board means the Emergency Services Superannuation Board established under subsection 5 (1) of the Emergency Services Superannuation Act 1986 (Vic).

[6]           Schedule 3, Part 2, clause 1, definition of revised scheme member

omit

State Superannuation Fund of Victoria.

insert

superannuation scheme established by the SS Act.

[7]           Schedule 3, Part 2, clause 1, definition of SS Fund

omit

[8]           Schedule 3, Part 2, clause 1, definition of Transport Superannuation Fund

substitute

Transport Superannuation Fund means the Transport Superannuation Fund referred to in subsection 61 (5) of the SS Act.

[9]           Schedule 3, Part 2, clause 1, definition of Victorian GSO

omit

[10]         Schedule 3, Part 2, clause 2

omit everything before the table, insert

2              Methods and factors for interests of revised scheme members in superannuation scheme established by SS Act

                For an interest of a revised scheme member that is in the growth phase in the superannuation scheme established by the SS Act mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.

[11]         Schedule 3, Part 2, clause 2, table, item 1, column 2, paragraph (h)

substitute

 

   (h)  has had his or her employment terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); or

    (i)  elected under subsection 69 (3) of the SS Act to cease to contribute in accordance with that Act.

 

[12]         Schedule 3, Part 2, clause 2, table, item 1, column 2

omit

Victorian GSO

insert

Emergency Services Superannuation Board

[13]         Schedule 3, Part 2, clause 2, table, item 14, column 2, paragraph (a)

omit

under subsection 61 (1) of the SS Act

[14]         Schedule 3, Part 3, clause 1

before the definition of SERB Act, insert

Emergency Services Superannuation Board means the Emergency Services Superannuation Board established under subsection 5 (1) of the Emergency Services Superannuation Act 1986 (Vic).

[15]         Schedule 3, Part 3, clause 1, definition of SERB scheme

omit

[16]         Schedule 3, Part 3, clause 1, definition of SS Fund

omit

[17]         Schedule 3, Part 3, clause 1, definition of Transport Superannuation Fund

substitute

Transport Superannuation Fund means the Transport Superannuation Fund referred to in subsection 61 (5) of the SS Act.

[18]         Schedule 3, Part 3, clause 1, definition of Victorian GSO

omit

[19]         Schedule 3, Part 3, clause 2

omit everything before the table, insert

2              Methods and factors for interests of members of superannuation scheme established by SERB Act

                For an interest, or a component of an interest, of a member that is in the growth phase in the superannuation scheme established by the SERB Act and that is mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.

[20]         Schedule 3, Part 3, clause 2, table, item 1, column 2

omit

SERB scheme member

insert

member of the superannuation scheme established by the SERB Act

[21]         Schedule 3, Part 3, clause 2, table, item 1, column 2, paragraph (g)

substitute

 

   (g)  become entitled to benefits under subsection 77 (1) of the SERB Act on ceasing to be an employee of a water authority so as to become an employee of another water authority; or

   (h)  elected under subsection 22A (3) of the SERB Act to cease to contribute in accordance with that Act.

 

[22]         Schedule 3, Part 3, clause 2, table, item 1, column 2

omit

Victorian GSO

insert

Emergency Services Superannuation Board

[23]         Schedule 3, Part 3, clause 2, table, items 2 to 13, column 2

omit

SERB scheme member in the SS Fund

insert

member of the superannuation scheme established by the SERB Act

[24]         Schedule 3, Part 3, clause 2, table, item 14

omit

[25]         Schedule 3, Part 5, heading

substitute

Part 5          Benefits provided under Transport Superannuation Act 1989 (Vic)

[26]         Schedule 3, Division 5.1, clause 1, definition of SS Fund

omit

[27]         Schedule 3, Division 5.1, clause 1, definition of Transport scheme

omit

[28]         Schedule 3, Division 5.2, clause 2

omit everything before the table, insert

2              Methods and factors for interests of members of superannuation scheme established by TS Act

                For an interest, or a component of an interest, of a member that is in the growth phase in the superannuation scheme established by the TS Act and that is mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.

[29]         Schedule 3, Division 5.3, clause 3

omit everything before the table, insert

3              Methods and factors for interests of members of superannuation scheme established by TS Act

                For an interest of a member that is in the payment phase in the superannuation scheme established by the TS Act and that is mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.

[30]         Schedule 3, Division 5.3, clause 3, table, item 1, column 2

omit

member of the Transport Scheme

insert

member of the superannuation scheme established by the TS Act

[31]         Further amendments — SS Act Superannuation Scheme

                The following provisions are amended by omitting ‘SS Fund’ and inserting ‘superannuation scheme established by the SS Act’:

                   ·     Schedule 3, Division 1.2, clause 2, table, items 1 to 7, column 2

                   ·     Schedule 3, Division 1.3, clause 3, table, item 1, column 2

                   ·     Schedule 3, Part 2, clause 2, table, items 1 to 18, column 2.

[32]         Further amendments — TS Act Superannuation Scheme

The following provisions are amended by omitting ‘Transport scheme member in the SS Fund’ and inserting ‘member of the superannuation scheme established by the TS Act’:

                   ·     Schedule 3, Part 5, clause 2, table, items 1 to 3, column 2.