Federal Register of Legislation - Australian Government

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Deeds & Trust Deeds as made
This instrument amends the Military Superannuation and Benefits Trust Deed to change the rules to allow the MSB Board to accept superannuation Guarantee top-up contributions made by Defence as ancillary contributions.
Administered by: Veterans' Affairs
Exempt from sunsetting by the Legislative Instruments Act 2003 s 54(2) item 42
Registered 23 Dec 2008
Tabling HistoryDate
Tabled HR03-Feb-2009
Tabled Senate03-Feb-2009
Date of repeal 19 Mar 2014
Repealed by Defence (Spent and Redundant Instruments) Repeal Regulation 2014

Military Superannuation and Benefits Trust Deed Amendment 2008 (No. 2)1

Military Superannuation and Benefits Act 1991

I, WARREN SNOWDON, Minister for Defence Science and Personnel, make this instrument under subsection 5 (1) of the Military Superannuation and Benefits Act 1991.

Dated 22 December 2008

WARREN SNOWDON


1              Name of instrument

                This instrument is the Military Superannuation and Benefits Trust Deed Amendment 2008 (No. 2).

2              Commencement

                This instrument commences on 24 December 2008.

3              Amendment of Military Superannuation and Benefits Trust Deed

                Schedule 1 amends the Military Superannuation and Benefits Trust Deed.


Schedule 1        Amendments

(section 3)

  

[1]           Rules, rule 101, after definition of Government co-contribution

insert

SG top-up contribution means an amount contributed by the Department, for the benefit of a member or a DFRDB member, in order to ensure that the Department does not have an individual superannuation guarantee shortfall (within the meaning of the Superannuation Guarantee (Administration) Act 1992) in relation to the member or the DFRDB member.

[2]           Rules, after rule 106

insert

106A       SG top-up contribution

         (1)   If the Board receives an SG top-up contribution in respect of a member or a DFRDB member, the contribution is taken to be a contribution by the member or the DFRDB member for rule 105.

         (2)   To avoid doubt, an SG top-up contribution:

                (a)    is not part of the funded employer benefit in relation to the member or the DFRDB member in respect of whom the contribution is made; and

               (b)    is not required to be allocated to the default Investment Division as set out in rule 11P.


Note

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.