Superannuation (PSS) Membership Inclusion Amendment Declaration 2015 (No. 2)1

I, MATHIAS HUBERT PAUL CORMANN, Minister for Finance, make this Declaration under paragraph 6 (1) (j) of the Superannuation Act 1990.

Dated 22-6-2015

Minister for Finance

1 Name of Declaration

This Declaration is the Superannuation (PSS) Membership Inclusion Amendment Declaration 2015 (No. 2).

2 Commencement

This Declaration commences on the commencement of Schedule 2 to the Private Health Insurance (Prudential Supervision)(Consequential Amendments and Transitional Provisions) Act 2015.

3 Amendment of Superannuation (PSS) Membership Inclusion Declaration 2006

Schedule 1 amends the Superannuation (PSS) Membership Inclusion Declaration 2006.

Schedule 1 Amendments

(section 4)

[1] Subsection 3 (1), immediately after the definition of alternative superannuation scheme

Insert

APRA means the Australian Prudential Regulation Authority established by the Australian Prudential Regulation Authority Act 1998.

[2] Subsection 3 (1), immediately after the definition of performance pay

Insert

PHIAC means the Private Health Insurance Administration Council established by the National Health Act 1953 and continued in existence under Part 6-3 of the Private Health Insurance Act 2007.

[3] After subsection 4 (23)

insert

(24) Section 6 of the 1990 Act ceases to apply to a person referred to in item 31 of Schedule 1 at the end of the earlier of:

(a) the day on which the person ceases to be an employee of APRA;

(b) the day immediately before the day on which the person becomes, in relation to the person’s employment with APRA, a member of an alternative superannuation scheme; or

(c) if APRA ceases to be a Commonwealth entity within the meaning of the Public Governance, Performance and Accountability Act 2013 – the last day on which APRA is a Commonwealth entity.

[4] Schedule 1, after item 30

insert

31 A person who:

(a) became, or becomes, an employee of APRA as a result of item 31 of Part 3 of Schedule 2 to the Private Health Insurance (Prudential Supervision) (Consequential Amendments and Transitional Provisions) Act 2015; and

(b) immediately before becoming so employed, was a PSS member in respect of employment with PHIAC; and