THIS DEED is made on 8 April 2008 by THE COMMONWEALTH OF AUSTRALIA.

WHEREAS section 10 of the Superannuation Act 2005 (the Act) provides for the Minister to establish a superannuation scheme to be administered by the Board established under section 20 of the Superannuation Act 1990 (the Board);

AND WHEREAS the Public Sector Superannuation Accumulation Plan was established by Trust Deed dated 29 June 2005[1] (the Principal Deed);

AND WHEREAS section 11 of the Act provides for the Minister, by instrument in writing, to amend the Principal Deed, and under section 32 requires the consent of the Board to amendments in certain circumstances.

AND WHEREAS the Board has consented to the amendments provided for in this Deed;

NOW THIS DEED WITNESSES as follows:

1.  The amendments in this Deed come into effect the day item 15 in Part 2 of Schedule 1 to the Workplace Relations Amendment (Transition to Forward with Fairness) Act 2008 commenced.

2.  Unless a contrary intention appears, a word or phrase in this Deed has the same meaning it has in the Principal Deed.

3. The Rules set out in the Schedule 1 to the Principal Deed are amended as follows:

3.1  Rule 1.2.1 is amended by inserting the following definition in alphabetical order:

3.2  The following Rule is substituted for Rule 2.2.3:

“2.2.3   The superannuation salary of an ordinary employer-sponsored member will be the person’s ordinary time earnings if this is specified in:

(a)        a workplace agreement that applies to the ordinary employer-sponsored member;

(b)       a pre-reform certified agreement that applies to the ordinary employer-sponsored member;

(c)        a pre-reform AWA that applies to the ordinary employer-sponsored member;

(d)        an AWA that applies to the ordinary employer-sponsored member;

(e)        a remuneration determination that applies to the ordinary employer-sponsored member; or

(f)        an agreement in writing between the ordinary employer-sponsored member and their designated employer in the case of an ordinary employer-sponsored member not covered by a workplace agreement, a pre-reform certified agreement, a pre-reform AWA, an AWA, or a remuneration determination.

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

SIGNED, SEALED AND DELIVERED                      )

                                                                                    )

by the Honourable NICK SHERRY                             )

                                                                                    )

Minister for Superannuation and Corporate Law           )

acting for and on behalf of                                             )

the Minister for Finance and Deregulation                      )

                                                                                    )

                                                                                    )

for and on behalf of                                                       )

                                                                                    )

THE COMMONWEALTH OF                                   )

                                                                                    )

AUSTRALIA, in the presence of:                                 )

                                                                                    )

                                                                                    )

                        (name)                                                  )

                        Adam Ward                                         )

                                                                                    )

                        (address)                                              )

                        M1.46 Parliament House,

                        Canberra                                              )

                                                                                    )

                        (description)                                         )

                        Chief of Staff                                        )

TABLE LISTING TRUST DEED AND AMENDING DEEDS

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.