explanatory statement

Issued by the Minister for Superannuation and Corporate Law, acting for and on behalf of the Minister for Finance and Deregulation

Superannuation Act 1990

Declaration under paragraph (b) of the definition of “Approved Authority” in section 3.

The Superannuation Act 1990 (the 1990 Act) makes provision for, and in relation to, the Public Sector Superannuation Scheme (PSS) for Australian Government employees and certain other persons.

Persons eligible to contribute under the 1990 Act include persons who are employed under the Public Service Act 1999, and persons who are employed by an "approved authority". In accordance with paragraph (b) of the definition of "approved authority" in section 3 of the 1990 Act, an approved authority includes an authority or other body declared by the Minister to be an approved authority for the purposes of the 1990 Act, being an authority or body of a kind described in the definition.

A consolidated list of bodies that have been declared by the Minister to be approved authorities for the purposes of the 1990 Act is contained in the Superannuation (PSS) Approved Authority Inclusion Declaration 1995 (the Principal Declaration).

The Screen Australia Act 2008 provides for the establishment of Screen Australia with effect from 1 July 2008 from the merger of the Australian Film Commission, Film Australia Limited and the Film Finance Corporation.

The declaration of Screen Australia as an approved authority for the purposes of the 1990 Act will enable employees of Screen Australia to continue, or recommence, membership of the PSS.

The purpose of the Superannuation (PSS) Approved Authority Inclusion Amendment Declaration 2008 (No.1) (the Declaration) is to amend the Principal Declaration by including Screen Australia in the list of bodies declared by the Minister to be approved authorities for the purposes of the 1990 Act.

The Declaration affects employees of the Australian Film Commission, Film Australia Limited and the Film Finance Corporation who will become employees of Screen Australia. Therefore, these bodies, as well as the Department of the Environment, Water, Heritage and the Arts were consulted. No other consultation is required as the instrument is of a minor or machinery nature.

The Declaration is a legislative instrument for the purposes of the Legislative Instruments Act 2003.

The Declaration commences on 1 July 2008.

The details of the Declaration are explained in the Attachment.

Attachment

Superannuation (PSS) Approved Authority INCLUSION Amendment Declaration 2008 (No. 1)

Clause 1 - Name of Declaration

This clause provides that the name of the Declaration is the Superannuation (PSS) Approved Authority Inclusion Amendment Declaration 2008 (No.1).

Clause 2 - Commencement

This clause provides for the Declaration to commence on 1 July 2008.

Clause 3 - Amendments to the Superannuation (PSS) Approved Authority Inclusion Declaration 1995

This clause amends the Superannuation (PSS) Approved Authority Inclusion Declaration 1995 by amending clause 4 of that Declaration to include Screen Australia in the list of bodies that are approved authorities for the purposes of the  1990 Act.