Commonwealth: Superannuation Legislation Amendment Act 1994 (Cth)

SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 Making Information - Assented to 23 June 1994 SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - TABLE OF PROVISIONS TABLE TABLE OF PROVISIONS PART 1-PRELIMINARY Section 1. Short title 2. Commencement PART 2-AMENDMENTS OF THE SUPERANNUATION ACT 1976 Division 1-Preliminary 3. Principal Act Division 2-Directions and declarations by the Board 4. Object of Division 5. Statutory office holders 6. Invalidity pensioners returning to employment except as permanent employees 7. Functions 8. Leave of absence without pay 9. Interpretation 10. Public employment 11. Repeal of section and substitution of new section: 134. Eligible superannuation schemes 12. Election for transfer value by people in relation to whom deferred benefits apply 13. Special provisions affecting certain former contributors under certain superannuation schemes 14. Determination by Board 15. Determination by Board 16. Annual report of Board Division 3-Exercise of powers by Commissioner, Minister and Governor-General 17. Object of Division 18. Certain references to Commissioner to be replaced by references to the Board 19. Repeal of section 20. Commissioner for Superannuation 21. Insertion of new section: 17A. Other functions of Commissioner not to be prejudiced 22. Repeal of section and substitution of new section: 27. Commissioner to keep records with respect to benefits paid under superseded Act 23. Functions of Board 24. Insertion of new section: 27CA. Board to keep records with respect to contributions etc. 25. Repeal of section 26. Investment of funds 27. Accounts and records 28. Interpretation 29. Interpretation 30. Interpretation-SG minimum contribution 31. Board may determine rate of fund contribution tax 32. Eligible employment 33. Transfer value 34. Deferred benefits 35. Special provisions affecting certain former contributors under certain superannuation schemes 36. Application of Part to pensions payable to or in respect of certain overseas employees 37. Interpretation 38. Annual report of Board 39. Repeal of section and substitution of new section: 161A. Annual report of Commissioner in relation to superseded Act 40. Minister may request the supply of information 41. Making false statements to Board, Commissioner etc. 42. Insertion of new section: 167AB. Exercise of certain powers by Minister 43. Regulations 44. Repeal of section and substitution of new section: 191. Assignment of life policies under superseded Act 45. Transfer of assets etc. to approved superannuation schemes 46. Transfer of assets etc. to Superannuation (1990) Scheme 47. Saving Division 4-Remuneration of Chairperson of Commonwealth Superannuation Board of Trustees No. 2 48. Object of Division 49. Remuneration Division 5-Termination of appointment of certain members of the Commonwealth Superannuation Board of Trustees No. 2 50. Object of Division 51. Termination of appointment of appointed members Division 6-Payment of certain money to eligible roll-over funds 52. Object of Division 53. Interpretation 54. Preservation of portion of benefit 55. Payment of productivity benefit 56. Payment of top-up benefit-preservation 57. Payment of transfer values to Commissioner 58. Deferral of benefit payable under section 110P 59. Insertion of new section: 158A. Payment of unclaimed money to eligible roll-over fund Division 7-Fund to cease to be part of the Trust Fund 60. Object of Division 61. Establishment of Fund Division 8-Refund of productivity contributions 62. Object of Division 63. Repeal of section and substitution of new section: 110EA. Effect of retrospective declaration under section 110E Division 9-Other amendments 64. Object of Division 65. Insertion of new section: 4AA. Declarations, determinations, approvals etc. by Minister, Board or Commissioner 66. Interpretation 67. Preservation of portion of benefit 68. Accumulated employer contributions 69. Interpretation 70. Payments into and out of Consolidated Revenue Fund 71. Correction of clerical errors 72. Regulations 73. Interpretation 74. Consequential amendments PART 3-AMENDMENT OF THE SUPERANNUATION LEGISLATION AMENDMENT ACT 1990 75. Object of Part 76. Payments into and out of Consolidated Revenue Fund PART 4-AMENDMENTS OF THE SUPERANNUATION ACT 1990 Division 1-Preliminary 77. Principal Act Division 2-Amendments consequential on the Superannuation Industry (Supervision) Act 1993 78. Object of Division 79. Interpretation 80. Amendment of Trust Deed 81. Election by certain people to join scheme under the Superannuation Act 1976 82. Annual report and financial statements 83. Transfer of assets etc. to approved superannuation schemes 84. Certain authorities to pay part of costs of administration 85. Repeal of section and substitution of new section: 46. Exercise of certain powers by Minister 86. Regulations 87. Insertion of new section: 49. Regulations relating to the operation of the Superannuation Industry (Supervision) Act 1993 and certain other laws Division 3-Other amendments 88. Object of Division 89. Insertion of new section: 44A. Declarations etc. by Minister or Board 90. Disallowable instruments PART 5-AMENDMENTS OF THE SUPERANNUATION BENEFITS (SUPERVISORY MECHANISMS) ACT 1990 91. Principal Act 92. Object of Part 93. Interpretation 94. Insertion of new section: 4A. Declarations etc. by Minister 95. Restrictions upon provision of superannuation 96. Repeal of section and substitution of new section: 6. Prescribed requirements for provision of superannuation benefits 97. Effect of contravention of prescribed requirements 98. Consequential amendments and transitional provisions SCHEDULE 1 Provisions of the Superannuation Act 1976 containing references to the Commissioner for Superannuation that are to be replaced by references to the Commonwealth Superannuation Board of Trustees No. 2 SCHEDULE 2 Provisions of Part XII of the Superannuation Act 1976 containing references to the Board or the Superannuation Board that are to be replaced by references to the former Board SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - LONG TITLE SECT An Act to amend certain Acts relating to superannuation for people employed by the Commonwealth, and for certain other people, and for related purposes SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - PART 1 PART 1-PRELIMINARY SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 1 Short title SECT 1. This Act may be cited as the Superannuation Legislation Amendment Act 1994. (Minister's second reading speech made in- Senate on 23 March 1994 House of Representatives on 8 June 1994) SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 2 Commencement SECT 2.(1) Except as otherwise provided by this section, this Act commences on the day on which it receives the Royal Assent. (2) Divisions 2 to 8 of Part 2, paragraphs 66(a) and (c) and sections 79 to 87 and 92 to 98 commence, or are taken to have commenced, as the case may be, on 1 July 1994. (3) Paragraph 66(b) and section 67 are taken to have commenced on 1 July 19 93. (4) Section 69 is taken to have commenced on 1 July 1992. (5) Section 76 is taken to have commenced on 1 July 1990. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - PART 2 PART 2-AMENDMENTS OF THE SUPERANNUATION ACT 1976 SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - DIVISION 1 Division 1-Preliminary SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 3 Principal Act SECT 3. In this Part, "Principal Act" means the Superannuation Act 1976.*1* *1* No. 31, 1976, as amended. For previous amendments, see No. 51, 1976; No. 80, 1977; Nos. 17, 134, 169 and 170, 1978; Nos. 52 and 155, 1979; No. 177, 1980; No. 92, 1981; No. 92, 1983; Nos. 63 and 165, 1984; Nos. 80, 93, 151 (as amended by No. 141, 1987) and 153, 1986; Nos. 38 and 130, 1988; Nos. 71, 97 (as amended by No. 105, 1989), 125 and 153, (as amended by No. 28, 1991), 1989; Nos. 39, (as amended by No. 130, 1991) and 40, 1990; Nos. 13, 122 and 130, 1991; Nos. 95, 185, 187 and 196, 1992; and No. 82, 1993. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - DIVISION 2 Division 2-Directions and declarations by the Board SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 4 Object of Division SECT 4. The object of this Division is to amend the Principal Act so as to ens ure that the rules of the superannuation scheme provided for in that Act are consistent with section 58 of the Superannuation Industry (Supervision) Act 1993. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 5 Statutory office holders SECT 5. Section 14 of the Principal Act is amended: (a) by inserting after "office" in paragraph (1)(a) "to which the person has been appointed on a full-time basis"; (b) by omitting subsections (2) and (3). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 6 Invalidity pensioners returning to employment except as permanent employees SECT 6. Section 15 of the Principal Act is amended: (a) by inserting after "office" in paragraph (1)(a) "to which the person was appointed on a full-time basis"; (b) by omitting subsection (2). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 7 Functions SECT 7. Section 27C of the Principal Act is amended by omitting subsections (6) and (7). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 8 Leave of absence without pay SECT 8.(1) Section 51 of the Principal Act is amended by omitting subsections (1), (1A), (2), (2A), (2B) and (2C) and substituting the following subsections: (1) This section applies to a personif: (a) the person is, or at any time has been, an eligible employee; and (b) the person, while an eligible employee, has been on leave of absence without pay for a period longer than 12 weeks; and (c) the period of leave of absence is not an excluded period of leave of absence. (2) For the purposes of subsection (1), the following periods of leave of absence of a person are, subject to subsection (2B), excluded periods of leave of absence: (a) a period of leave of absence during which the person's liability to make contributions is deferred under subsection 54( 1); (b) a period of sick leave without pay that is a continuous period of less than 2 years; (c) if a period of sick leave without pay is a continuous period of 2 years or longer-the part of the period that is less than 2 years; (d) a period of compensation leave granted under the Safety, Rehabilitation and Compensation Act 1988; (e) a period of leave of absence granted for the purpose of undertaking a course of studies approved by the person's employer except: (i) a period in respect of which the person elects not to make basic contributions; or (ii) if the period of leave of absence is a continuous period of 2 years or longer-the part of the period that begins on the last day of those 2 years; (f) subject to subsection (2A), a period of leave of absence for the purpose of engaging in other employment (other than employment by an approved organisation) if: (i) in respect of a person who is employed in a Department (within the meaning of the Public Service Act)-the Secretary (within the meaning of that Act) of the Department is satisfied that the engaging by the person in the other employment is in the interests of the Australian Public Service; or (ii) in respect of any other person-the person's employer is satisfied that the engaging by the person in the other employment is in the employer's interests; (g) subject to subsection (2A), a period of leave of absence for the purpose of engaging in employment by an approved organisation; (h) subject to subsection (2BC), a period of leave of absence in respect of which there is in force an agreement made (whether before or after the end of the period) between the Minister and the Board declaring the period to be an excluded period of leave of absence. (2A) Subject to subsection (2BA), paragraph (2)(f) or (g) does not apply in respect of a period, or a part of a period, of leave of absence granted to a person unless the following requirements have been complied with: (a) if the person is ordinarily employed by one of the following Governments, authorities or bodies (the 'usual employer'): (i) the Government of the Australian Capital Territory or of the Northern Territory; (ii) an authority or body established by or under a law of the Australian Capital Territory or of the Northern Territory; (iii) the Australian National University; (iv) the Snowy Mountains Hydro-electric Authority; (v) another authority or body declared by the Minister, by signed writing, to be an authority or body to which this subparagraph applies; the person's employer in respect of the employment engaged in during the period, or the part of the period, of leave of absence (the 'temporary employer') makes payments to the usual employer of such amounts, or at such rates, as are determined in respect of the person during the period or the part of the period by: (vi) if the usual employer is an authority or body established by or under a law of the Australian Capital Territory or of the Northern Territory-the Government of the Territory concerned; or (vii) otherwise-the usual employer; (b) if the person is ordinarily employed by one of the following authorities or bodies (the 'usual employer') that is not an authority or body referred to in paragraph (a): (i) an approved authority; (ii) another authority or body referred to in subsection 159(1); (iii) a body referred to in item 2.1 of Schedule 1 to the Superannuation (Continuing Contributions for Benefits) Regulations; the person's employer in respect of the employment engaged in during the period, or the part of the period, of leave of absence (the 'temporary employer'): (iv) makes payments to the usual employer of such amounts, or at such rates, as the Minister determines in respect of the person during the period or the part of the period; and (v) makes those payments at the times at which payments are required to be made to the Commonwealth under section 159 by authorities or bodies to which that section applies; (c) if the person is ordinarily employed by someone other than a Government, authority or body referred to in paragraph (a) or (b)-the person's employer in respect of the employment engaged in during the period, or the part of the period, of leave of absence (the 'temporary employer') makes payments to the Commonwealth of such amounts or at such rates, and at such times, as the Minister determines in respect of the person during the period or the part of the period. (2B) Subject to subsection (2BA), except in respect of a person who is not a productivity employee or is, under an agreement made between the Minister and the Board, exempted from the operation of this subsection, subsection (2) does not apply in respect of a period, or a part of a period, of leave of absence granted to a person unless: (a) if the leave of absence was granted so that the person could engage in other employment-the other employer; or (b) otherwise-the employer by whom the person is ordinarily employed; makes payments to the Board in respect of the person, during the period, or the part of the period, of leave of absence, of productivity contributions of the amounts worked out under section 110C. (2BA) Subsections (2A) and (2B) have effect in relation to a particular period of leave granted to a person, or a particular part of such a period, subject to any modifications agreed between the Minister and the Board in relation to the person in respect of the period or the part of the period, as the case may be. (2BB) In paragraphs (2)(f) and (g): 'approved organisation' means: (a) an organisation registered under the Industrial Relations Act 1988 whose membership includes people who are eligible employees or members of the Superannuation (1990) Scheme; or (b) a body consisting of organisations referred to in paragraph (a). (2BC) An agreement made under paragraph (2)(h) in respect of a period of leave of absence may be subject to such conditions as are set out in the agreement, and, if any such conditions are contravened in relation to the period or a part of the period, that paragraph does not apply in respect of the period or the part of the period, as the case may be. (2BD) The Minister and the Board may at any time vary or terminate an agreement made under paragraph (2)(h).". (2) The amendments made by subsection (1) apply only to periods of leave of absence beginning on or after 1 July 1994 and, despite the amendments, section 51 of the Principal Act continues to have effect in respect of periods of leave of absence beginning before that date as if the amendments had not been made. (3) If a person was granted leave of absence before 1 July 1994 for a period (the "relevant period") beginning before that date but ending on or after that date, the reference in subsection (2) to a period of leave of absence beginning before that date: (a) includes a reference to the part of the relevant period that occurs on or after that date; but (b) does not include a reference to the period of any extension of the relevant period that is granted on or after that date. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 9 Interpretation SECT 9. Section 110A of the Principal Act is amended: (a) by inserting "of the Superannuation Act 1976 as in force immediately before the commencement of the Superannuation Legislation Amendment Act 1994" after "51(1)" in paragraph (a) of the definition of "LWOP employee"; (b) by inserting after paragraph (a) of the definition of "LWOP employee" the following paragraph: (aa) is on leave of absence for a period that: (i) is more than 12 weeks; and (ii) is an excluded period of leave of absence for the purposes of subsection 51(1); or"; (c) by adding at the end of the definition of "productivity employee" (but not as part of paragraph (b) of that definition) "but does not include an eligible employee whom the Minister and the Board have agreed to exempt from the operation of subsection 51(2B);". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 10 Public employment SECT 10.(1) Section 133 of the Principal Act is amended: (a) by omitting subsections (1), (1AA), (1A), (1B) and (1C) and substituting the following subsections: (1) The Minister and the Board may agree that employment, whether within or outside Australia, by a person, or by persons included in a class of persons, is public employment for the purposes of this Division. (1A) The Minister and the Board may at any time vary or terminate an agreement made under subsection (1)."; (b) by omitting from paragraph (1D)(a) "declared" and substituting "agreed"; (c) by omitting from subsection (1D) "Board may, by instrument published in the Gazette, declare" and substituting "Minister and the Board may agree"; (d) by omitting subsections (2), (2A) and (3) and substituting the following subsections: (2) An agreement made under this section may be expressed to have taken effect on a day earlier than the day on which the agreement is made but not earlier than 1 July 1976. (2A) An agreement made under this section or a variation of such an agreement: (a) may be expressed to apply only in relation to employment of a person included in a class of persons referred to in the agreement; and (b) may be expressed to apply only until a time stated in the agreement. (2B) The Board must cause notice of the making of an agreement under this section, or of the variation or termination of such an agreement, to be published in the Gazette. (3) A person is taken, for the purposes of this Division, to have been employed in public employment at a particular time before 1 July 1994 if, and (except as otherwise provided by an Act other than this Act) only if: (a) the employer by whom the person was employed at that time was a person, or was included in a class of persons, referred to in a declaration by the Board under subsection 133(1) of the Superannuation Act 1976 as in force at that time and, if the declaration was expressed to apply only in relation to the employment of a person included in a class of persons, the person was included in that class; or (b) a declaration by the Board under subsection 133(1D) of the Superannuation Act 1976 as in force at that time was, or is taken to have been, in force at that time in relation to the person. (3A) A person is taken, for the purposes of this Division, to have been employed in public employment at a particular time on or after 1 July 1994 if, and (except as otherwise provided by an Act other than this Act) only if: (a) the employer by whom the person was employed at that time was a person, or was included in a class of persons, referred to in an agreement under subsection (1) that was in force at that time and, if the agreement was expressed to apply only in relation to the employment of a person included in a class of persons, the person was included in the class; or (b) an agreement made between the Minister and the Board under subsection (1D) was, or is taken to have been, in force at that time in relation to the person."; (e) by omitting from subsection (4) "A declaration" and substituting "An agreement". (2) A declaration made by the Board under subsection 133(1) of the Principal Act (including, to remove any doubt, a declaration that is taken, by subsection 46(2) of the Superannuation Legislation Amendment Act 1991, to have been made by the Board under subsection 133(1) of the Superannuation Act 1976) is taken, for the purposes of section 133 (other than subsection 133(3)) of the Principal Act as amended by this section, to be an agreement made between the Minister and the Board under subsection 133(1) of the Principal Act as amended by this section. (3) A declaration made by the Board under subsection 133(1D) of the Principal Act is taken, for the purposes of section 133 of the Principal Act as amended by this section, to be an agreement made between the Minister and the Board under subsection 133(1D) of the Principal Act as amended by this section. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 11 Repeal of section and substitution of new section SECT 11.(1) Section 134 of the Principal Act is repealed and the following section is substituted: Eligible superannuation schemes "134.(1) Subject to subsection (5), the Minister and the Board may agree that a superannuation scheme is an eligible superannuation scheme for the purposes of this Division. "(2) The Minister and the Board may at any time terminate an agreement made under subsection (1). "(3) An agreement made under subsection (1) may be expressed to have taken effect on a day earlier than the day on which the agreement is made but not earlier than 1 July 1976. "(4) The Board must cause notice of the making of an agreement under subsection (1), or of the termination of such an agreement, to be published in the Gazette. "(5) An agreement may not be made under subsection (1) in relation to a superannuation scheme (the 'relevant scheme') unless: (a) the relevant scheme is a public sector superannuation scheme; and (b) the trustee of the relevant scheme has given a written undertaking to the Board stating that: (i) the relevant scheme will accept transfer values paid from, and pay transfer values to, the scheme provided for under this Act (the 'Commonwealth scheme') or any other eligible superannuation scheme; and (ii) the relevant scheme will provide equitable benefits in return for a transfer value so accepted; and (c) the trustee of the relevant scheme has given a written undertaking to the Board stating that, except as provided by subsection (7), the scheme will not pay out: (i) the whole or any part of the employer component of a transfer value paid to the relevant scheme from the Commonwealth scheme; or (ii) any part of any other transfer value paid to the relevant scheme that represents the whole or a part of the employer component of a transfer value paid from the Commonwealth scheme; and (d) the trustee of the relevant scheme has given a written confirmation to the Board stating that the undertaking does not conflict with the trust instrument, other document or legislation, or combination of them, governing the establishment and operation of the relevant scheme; or the Minister and the Board are satisfied that there are special circumstances that make it desirable for the relevant scheme to be treated as an eligible superannuation scheme for the purposes of this Division even though one or more of the paragraphs of this subsection are not complied with. "(6) In subsection (5): 'public sector superannuation scheme' means a scheme for the payment of superannuation, retirement or death benefits that is established: (a) by or under a law of the Commonwealth, of a State or of a Territory; or (b) under the authority of: (i) the Commonwealth, a State or a Territory; or (ii) a municipal corporation, another local governing body, or a public authority constituted by or under a law of the Commonwealth, of a State or of a Territory; or (iii) a company or other body corporate in which the Commonwealth, a State, a Territory, a municipal corporation, another local governing body or a public authority referred to in subparagraph (ii) has, or any 2 or more of them together have, a controlling interest; 'trustee', in relation to a superannuation scheme of which there is no trustee (within the ordinary meaning of that expression), means the person who manages the scheme. "(7) The whole or a part of an employer component, or the part of a transfer value that represents the whole or a part of an employer component, referred to in subparagraph (5)(c)(i) or (ii), as the case may be, may only be paid out as follows: (a) except where the amount proposed to be paid is the whole or a part of a lump sum retrenchment benefit to which paragraph (b) applies, payment may be made: (i) to an eligible superannuation scheme; or (ii) in the same circumstances, and to the same extent, as benefits that are required to be compulsorily preserved under the Superannuation Industry (Supervision) Act 1993 and the regulations under that Act may be paid; (b) if the amount proposed to be paid is the whole or a part of a lump sum retrenchment benefit that has become payable before 1 July 2000: (i) payment may be made of any part of the amount other than the amount (the 'preserved part of the amount') required to be compulsorily preserved under the Superannuation Industry (Supervision) Act 1993 and the regulations under that Act; and (ii) payment may be made of the preserved part of the amount in the circumstances provided for under that Act and those regulations. "(8) A superannuation scheme to which an agreement made under subsection (1) relates is not an eligible superannuation scheme in relation to a person if Part XIII or XIIIA applies in respect of the person because of his or her having become a member of the superannuation scheme. "(9) A person is taken, for the purposes of this Division, to have been a member of an eligible superannuation scheme at a particular time if, and only if, the person was at that time a member of a superannuation scheme in respect of which: (a) if that time was before 1 July 1994-a declaration by the Board under subsection 134(1) of the Superannuation Act 1976 as in force at that time was, or is taken to have been, in force; or (b) if that time was on or after that date-an agreement under this section was in force.". (2) A declaration made by the Board under subsection 134(1) of the Principal Act (including, to remove any doubt, a declaration that is taken, by subsection 47(2) of the Superannuation Legislation Amendment Act 1991, to have been made by the Board under subsection 134(1) of the Superannuation Act 1976) is taken, for the purposes of section 134 (other than paragraph 134(9)(a)) of the Principal Act as amended by this section, to be an agreement made between the Minister and the Board under subsection 134(1) of the Principal Act as amended by this section. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 12 Election for transfer value by people in relation to whom deferred benefits apply SECT 12.(1) Section 139A of the Principal Act is amended: (a) by omitting from subsection (1A) "Except where the Board otherwise directs," and substituting "Unless the Minister and the Board otherwise agree,"; (b) by omitting subsections (1B), (1C) and (1D) and substituting the following subsections: (1B) The Minister and the Board may terminate an agreement made under subsection (1A). (1C) An agreement may not be made under subsection (1A) in relation to a person in respect of whom Part XIIIA applies.". (2) A direction given by the Board as mentioned in subsection 139A(1A) of the Principal Act (including, to remove any doubt, a declaration that is taken, by subsection 50(2) of the Superannuation Legislation Amendment Act 1991, to have been given by the Board under subsection 139A(1A) of the Superannuation Act 1976) is taken, for the purposes of section 139A of the Principal Act as amended by this section, to be an agreement made between the Minister and the Board under subsection 139A(1A) of the Principal Act as amended by this section. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 13 Special provisions affecting certain former co ntributors under certain superannuation schemes SECT 13.(1) Section 145 of the Principal Act is amended: (a) by omitting from subparagraph (1)(a)(ii) ", or is to be deemed to have been,"; (b) by omitting subsections (11), (11A), (11B), (11C), (12) and ( 13) and substituting the following subsections: "(11) The Minister and the Board may agree that a particular superannuation scheme that: (a) provides for benefits by means of life policies; and (b) is an eligible superannuation scheme for the purposes of Division 3; is an approved superannuation scheme for the purposes of this section. "(11A) The Minister and the Board may at any time terminate an agreement made under subsection (11). "(11B) An agreement made under subsection (11) may be expressed to have taken effect on a day earlier than the day on which the agreement is made but not earlier than 1 July 1976. "(12) The Board must cause notice of the making of an agreement under subsection (11), or of the termination of such an agreement, to be published in the Gazette. "(13) A superannuation scheme is taken, for the purposes of this section, to have been an approved superannuation scheme at a particular time if: (a) in respect of a time before 1 July 1994-a declaration in respect of the scheme made by the Board under subsection 145(11) of the Superannuation Act 1976 was, or is taken to have been, in force at that time; or (b) in respect of a time on or after that date-an agreement under subsection (11) in respect of the scheme was in force at that time.". (2) A declaration made by the Board under subsection 145(11) of the Principal Act (including, to remove any doubt, a declaration that is taken, by subsection 53(2) of the Superannuation Legislation Amendment Act 1991, to have been made by the Board under subsection 145(11) of the Superannuation Act 1976) is taken, for the purposes of section 145 (other than paragraph 145(13)(a)) of the Principal Act as amended by this section to be an agreement made between the Minister and the Board under subsection 145(11) of the Principal Act as amended by this section. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 14 Determination by Board SECT 14.(1) Section 153AL of the Principal Act is amended by omitting paragraph (1)(b). (2) The amendment made by subsection (1) applies only to decisions made on or after 1 July 1994 and, despite that subsection, subsection 153AL(1) of the Principal Act continues to apply to decisions made before that date as if the amendment had not been made. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 15 Determination by Board SECT 15.(1) Section 153AS of the Principal Act is amended by omitting paragraph (1)(b). (2) The amendment made by subsection (1) applies only to decisions made on or after 1 July 1994 and, despite that subsection, subsection 153AS(1) of the Principal Act continues to apply to decisions made before that date as if the amendment had not been made. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 16 Annual report of Board SECT 16.(1) Section 161 of the Principal Act is amended: (a) by omitting from subsection (1A) "approved by the Minister" and substituting "agreed between the Minister and the Board"; (b) by omitting subsection (7). (2) The amendments made by subsection (1) apply to financial statements or a report, as the case requires, in respect of any period beginning on or after 1 July 1994. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - DIVISION 3 Division 3-Exercise of powers by Commissioner, Minister and Governor-General SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 17 Object of Division SECT 17. The object of this Division is to amend the Principal Act so as to ensure that the rules of the superannuation scheme provided for in that Act are consistent with sections 59 and 60 of the Superannuation Industry (Supervision) Act 1993. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 18 Certain references to Commissioner to be replaced by references to the Board SECT 18. The Principal Act is amended by omitting from the provisions referred to in Schedule 1 "Commissioner" (wherever occurring) and substituting "Board". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 19 Repeal of section SECT 19. Section 16AE of the Principal Act is repealed. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 20 Commissioner for Superannuation SECT 20. Section 17 of the Principal Act is amended by omitting subsection (2) and substituting the following subsections: "(2) The Commissioner is responsible for: (a) the provision of administrative services to the Board; and (b) the general administration of the superseded Act; a nd (c) any functions conferred on the Commissioner under section 154. "(3) In providing administrative services to the Board under paragraph (2)(a), the Commissioner must act in accordance with any policies determined, and any directions given, by the Board. "(4) Anything done by the Commissioner in the name of, or on behalf of, the Board is taken to have been done by the Board.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 21 Insertion of new section SECT 21. After section 17 of the Principal Act the following section is inserted: Other functions of Commissioner not to be prejudiced "17A. The Commissioner is not required under this Act to do anything that would prejudice the performance of: (a) the Commissioner's functions under any other Act (including any function that the Commissioner has because of his or her being the Chairman of the Defence Force Retirement and Death Benefits Authority); or (b) the Commissioner's functions under any regulations made under an Act.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 22 Repeal of section and substitution of new section SECT 22. Section 27 of the Principal Act is repealed and the following section is substituted: Commissioner to keep records with respect to benefits paid under superseded Act "27. The Commissioner must cause proper records to be kept in respect of benefits paid under the superseded Act.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 23 Functions of Board SECT 23. Section 27C of the Principal Act is amended by omitting from subsection (1) all the paragraphs after paragraph (a) and substituting the following paragraph: "(b) to be responsible for the general administration of this Act.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 24 Insertion of new section SECT 24. After section 27C of the Principal Act the following section is inserted: Board to keep records with respect to contributions etc. "27CA. The Board must cause proper records to be kept in respect of: (a) contributions paid into the Superannuation Fund; and (b) benefits paid under this Act, whether out of the Superannuation Fund or out of the Consolidated Revenue Fund; and (c) amounts that, under this Act, are: (i) paid out of the Consolidated Revenue Fund into the Superannuation Fund; or (ii) paid out of the Superannuation Fund into the Consolidated Revenue Fund.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 25 Repeal of section SECT 25. Section 27U of the Principal Act is repealed. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 26 Investment of funds SECT 26. Section 42 of the Principal Act is amended by omitting from subsection (1) ", after consultation with the Commissioner, ". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 27 Accounts and records SECT 27. Section 44 of the Principal Act is amended by omitting subsection (2). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 28 Interpretation SECT 28. Section 62A of the Principal Act is amended by omitting from the definition of "rate of fund contribution tax" in subsection (1) "Minister" and substituting "Board". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 29 Interpretation SECT 29. Section 110SB of the Principal Act is amended by omitting from the definition of "rate of fund contribution tax" in subsection (1) "Minister" and substituting "Board". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 30 Interpretation-SG minimum contribution SECT 30. Section 110SC of the Principal Act is amended: (a) by omitting from subsections (2) and (3) "Minister" and substituting "Board"; (b) by omitting subsections (4) and (5) and substituting the following subsection: (4) A determination by the Board under subsection (2) takes effect on: (a) a day stated in the determination; or (b) if no day is stated-the day of the making of the determination; and the Board must cause a copy of the determination to be published in the Gazette.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 31 Board may determine rate of fund contribution tax SECT 31. Section 110SD of the Principal Act is amended: (a) by omitting from subsections (1) and (3) "Minister" and substituting "Board"; (b) by omitting subsections (4) and (5) and substituting the following subsection: (4) The Board must cause a copy of the determination to be published in the Gazette.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 32 Eligible employment SECT 32. Section 132 of the Principal Act is amended by inserting in subsections (3), (4) and (5) "or the Board" after "Commissioner" (wherever occurring). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 33 Transfer value SECT 33. Section 135 of the Principal Act is amended by inserting in paragraph (1A)(d) "or the Board" after "Commissioner". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 34 Deferred benefits SECT 34. Section 136 of the Principal Act is amended by inserting in paragraphs (2A)(d) and (2F)(d) "or the Board" after "Commissioner". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 35 Special provisions affecting certain former contributors under certain superannuation schemes SECT 35.(1) Section 145 of the Principal Act is amended by omitting subsection (3) and substituting the following subsection: (3) An election under subsection (2) does not have effect unless the person who made the election, within the period referred to in that subsection, causes the life policy or life policies referred to in paragraph (1)(b) to be assigned to the Board, free from any mortgages, charges or other encumbrances.". (2) A life policy assigned to the Commissioner under subsection 145(3), or issued to the Commissioner under subsection 145(4), of the Principal Act before the commencement of this section is, by this subsection, assigned to the Board. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 36 Application of Part to pensions payable to or in respect of c ertain overseas employees SECT 36. Section 151 of the Principal Act is amended by omitting "Minister" (last occurring) and substituting "Board". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 37 Interpretation SECT 37. Section 153AA of the Principal Act is a mended: (a) by omitting from subsection (1) the definition of "decision" and substituting the following definition: "'decision' means a decision of the Board other than: (a) a decision in respect of the investment of the Fund; or (b) a determination under subsection 110Q(1A); or (c) a determination under subsection 110SC(2); or (d) a determination under section 110SD; or (e) a determination under section 154A; or (f) a decision: (i) to make, or to refuse to make, an agreement with the Minister under section 51, 133, 134, 139A or 145; or (ii) to agree, or to refuse to agree, to vary or terminate such an agreement; or (g) a decision to consent, or not to consent, to: (i) a proposed declaration or determination by the Minister referred to in section 167AB; or (ii) a proposed determination by the Minister under section 240 or 248; or (iii) the making of regulations;"; (b) by omitting from subsection (2) "subsection 51(1), 133(1), 134(1), 139A(1A) or 145(11)" and substituting "a provision of the Superannuation Act 1976 referred to in the subsection concerned". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 38 Annual report of Board SECT 38. Section 161 of the Principal Act is amended by omitting subsection (3). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 39 Repeal of section and substitution of new section SECT 39. Section 161A of the Principal Act is repealed and the following section is substituted: Annual report of Commissioner in relation to superseded Act "161A. The Commissioner must, as soon as practicable after the end of each financial year, prepare and give to the Minister a report on the general administration and operation of the superseded Act during that year.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 40 Minister may request the supply of information SECT 40. Section 163 of the Principal Act is amended: (a) by omitting from subsection (1) "this Act (other than Part III) and"; (b) by omitting from subsection (3) "performance of its functions" and substituting "general administration and operation of this Act (including the investment of the Fund)". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 41 Making false statements to Board, Commissioner etc. SECT 41. Section 167 of the Principal Act is amended: (a) by inserting in subsection (2) "the Board, a member of the Board, a delegate of the Board," after "means"; (b) by omitting from subsection (3) all the words from and including "order" to the end of the subsection and substituting the following words and paragraphs: "order the person: (a) in relation to an offence relating to the superseded Act-to pay to the Commissioner; or (b) otherwise-to pay to the Board; an amount equal to any amount of benefit paid to the person as a result of the act, failure or omission in respect of which the person was convicted."; (c) by omitting from subsection (4) ", under the hand of the Commissioner," and substituting "by the Commissioner or the Board stating"; (d) by inserting after subsection (4) the following subsection: (4A) In any proceeding, a document purporting to be a certificate under subsection (4) is taken, unless the contrary is proved, to be such a certificate and to have been duly given.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 42 Insertion of new section SECT 42. After section 167AA of the Principal Act, the following section is inserted: Exercise of certain powers by Minister "167AB. The Minister may not make a declaration or determination (other than a determination under section 241) under this Act that is a disallowable instrument unless: (a) the Board has consented to the making of the declaration or determination; or (b) the declaration or determination: (i) relates to a payment by an employer-sponsor within the meaning of the Superannuation Industry (Supervision) Act 1993 that will, after the making of the declaration or determination, be required or permitted to be made under this Act; or (ii) relates solely to the termination of the Fund; or (iii) is made or given in circumstances covered by regulations made for the purposes of subparagraph 60(1)(b)(iii) of the Superannuation Industry (Supervision) Act 1993.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 43 Regulations SECT 43. Section 168 of the Principal Act is amended by inserting after subsection (12) the following subsections: (13) Regulations may not be made after the commencement of this subsection unless: (a) the Board has consented to the making of the regulations; or (b) the regulations: (i) relate to a payment by an employer-sponsor within the meaning of the Superannuation Industry (Supervision) Act 1993 that will, after the making of the regulations, be required or permitted to be made under this Act; or (ii) relate solely to the termination of the Fund; or (iii) are made in circumstances covered by regulations made for the purposes of subparagraph 60(1)(b)(iii) of the Superannuation Industry (Supervision) Act 1993. (14) If any regulations in force at the commencement of this subsection confer a power on the Commissioner: (a) that power is exercisable after that commencement by the Board and not by the Commissioner; and (b) any determination, approval or other thing that was made, given or done by the Commissioner under that power before that commencement is taken, after that commencement, for the purposes of this Act (other than section 154 and Part XA) to have been made, given or done by the Board.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 44 Repeal of section and substitution of new section SECT 44. Section 191 of the Principal Act is repealed and the following section is substituted: Assignment of life policies under superseded Act "191. If: (a) a life policy that was assigned by a person to the Superannuation Board under section 119ZC of the superseded Act was transferred to the Commissioner by subsection 76(2) of the Superannuation Amendment Act 1976; or (b) a life policy is assigned by a person to the Commissioner under section 119ZC of the superseded Act; the following paragraphs apply: (c) the policy is, by this section, assigned to the Board; (d) section 145 of this Act applies, with such modifications as are determined by the Board, to and in relation to the person and the policy as if the policy had been assigned to the Board by the person under that section.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 45 Transfer of assets etc. to approved superannuation schemes SECT 45. Section 240 of the Principal Act is amended by inserting in subsection (1) ", with the consent of the Board," after "Minister" (wherever occurring). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 46 Transfer of assets etc. to Superannuation (1990) Scheme SECT 46. Section 248 of the Principal Act is amended by inserting in subsection (1) ", with the consent of the Board," after "Minister" (wherever occurring). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 47 Saving SECT 47.(1) A reference in this section to anything done by the Commissioner or the Minister includes a reference to a determination made, or a direction, approval or delegation given, by the Commissioner or the Minister, as the case may be. (2) Anything done before the commencement of this section under a provision of the Principal Act referred to in subsection (4) by, or to or in respect of, the Commissioner has effect, after that commencement, for all purposes of the Principal Act as amended by this Act (other than Parts XA and XI of that Act as so amended) as if it had been done by the Board under the corresponding provision of the Principal Act as amended by this Division. (3) Anything done before the commencement of this section under a provision of the Principal Act referred to in subsection (4) by, or to or in respect of, the Minister has effect, after that commencement, for all purposes of the Principal Act as amended by this Act as if it had been done by the Board under the corresponding provision of the Principal Act as amended by this Division. (4) The provisions of the Principal Act in relation to which subsection (2) or (3) applies are: (a) the provisions referred to in Schedule 1; and (b) sections 17, 25, 27 and 27U, the definition of "rate of fund contribution tax" in subsections 62A(1) and 110SB(1) and sections 110SC, 110SD, 145 and 191. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - DIVISION 4 Division 4-Remuneration of Chairperson of Commonwealth Superannuation Board of Trustees No. 2 SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 48 Object of Division SECT 48. The object of this Division is to amend the Principal Act so as to ensure that the superannuation scheme provided for in that Act is consistent with the definition of "independent director" in section 10 of the Superannuation Industry (Supervision) Act 1993. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 49 Remuneration SECT 49. Section 27J of the Principal Act is amended by adding at the end the following subsections: (2) The remuneration and allowances of the Chairperson of the Board are to be paid out of the Fund. (3) The remuneration and allowances of the members of the Board other than the Chairperson may be paid, as determined by the Minister: (a) out of the Fund; or (b) out of the Consolidated Revenue Fund; or (c) partly out of the Fund and partly out of the Consolidated Revenue Fund.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - DIVISION 5 Division 5-Termination of appointment of certain members of the Commonwealth Superannuation Board of Trustees No. 2 SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 50 Object of Division SECT 50. The object of this Division is to amend the Principal Act so as to ensure that the superannuation scheme provided for in that Act is consistent with section 107 of the Superannuation Industry (Supervision) Act 1993. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 51 Termination of appointment of appointed members SECT 51. Section 27M of the Principal Act is amended by adding at the end the following subsections: (3) The Minister may not terminate the appointment of a member who was nominated for appointment by the Australian Council of Trade Unions unless the Council has consented to the t ermination. (4) Before deciding whether to consent to a proposed termination of the appointment of a member referred to in subsection (3), the Australian Council of Trade Unions must consult with organisations referred to in subsection 27F(4).". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - DIVISION 6 Division 6-Payment of certain money to eligible roll-over funds SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 52 Object of Division SECT 52. The object of this Division is to amend the Principal Act so as to ensure that the superannuation scheme provided for in that Act is consistent with section 244 of the Superannuation Industry (Supervision) Act 1993. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 53 Interpretation SECT 53. Section 3 of the Principal Act is amended by inserting in subsection (1) the following definition: "'eligible roll-over fund' means a fund in respect of which a declaration by the Insurance and Superannuation Commissioner under section 243 of the Superannuation Industry (Supervision) Act 1993 is in force.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 54 Preservation of portion of benefit SECT 54. Section 62B of the Principal Act is amended: (a) by omitting from paragraph (1)(c) "2 months" and substituting "90 days"; (b) by omitting from paragraph (1)(c) "a preservation fund nominated by the Commissioner" and substituting "an eligible roll-over fund nominated by the Board". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 55 Payment of productivity benefit SECT 55. Section 110R of the Principal Act is amended: (a) by omitting from subsection (6) "2 months" and substituting "90 days"; (b) by omitting from subsection (6) "a preservation fund nominated by the Commissioner" and substituting "an eligible roll-over fund nominated by the Board". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 56 Payment of top-up benefit-preservation SECT 56. Section 110SG of the Principal Act is amended: (a) by omitting from subsection (2) "2 months" and substituting "90 days"; (b) by omitting from subsection (2) "a preservation fund nominated by the Commissioner" and substituting "an eligible roll-over fund nominated by the Board". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 57 Payment of transfer values to Commissioner SECT 57. Section 128 of the Principal Act is amended: (a) by omitting from paragraph (4A)(c) "2 months" and substituting "90 days"; (b) by omitting from paragraph (4A)(c) "a preservation fund nominated by the Commissioner" and substituting "an eligible roll-over fund nominated by the Board". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 58 Deferral of benefit payable under section 110P SECT 58. Section 139AA of the Principal Act is amended: (a) by omitting from paragraph (1)(b) "2 months" and substituting "90 days"; (b) by omitting from paragraph (1)(b) "a preservation fund nominated by the Commissioner" and substituting "an eligible roll-over fund nominated by the Board". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 59 Insertion of new section SECT 59. After section 158 of the Principal Act the following section is inserted: Payment of unclaimed money to eligible roll-over fund "158A. If: (a) a lump sum benefit is payable under this Act to a person; and (b) the person fails, within 90 days after the benefit becomes payable, to tell the Board in writing how the person wishes the benefit to be paid; the Board may pay the amount of the benefit to an eligible roll-over fund.". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - DIVISION 7 Division 7-Fund to cease to be part of the Trust Fund SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 60 Object of Division SECT 60. The object of this Division is to amend the Principal Act so as to ensure that the superannuation scheme provided for in that Act is consistent with paragraph 52(2)(d) of the Superannuation Industry (Supervision) Act 1993. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 61 Establishment of Fund SECT 61. Section 40 of the Principal Act is amended by omitting subsection (2). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - DIVISION 8 Division 8-Refund of productivity contributions SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 62 Object of Division SECT 62. The object of this Division is to amend the Principal Act so as to ensure that the superannuation scheme provided for in that Act is consistent with subsection 117(3) of the Superannuation Industry (Supervision) Act 1993. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 63 Repeal of section and substitution of new section SECT 63.(1) Section 110EA of the Principal Act is repealed and the following section is substituted: Effect of retrospective declaration under section 110E "110EA. If the Minister makes a declaration under section 110E with retrospective effect: (a) the amounts paid as productivity contributions in respect of an employee to whom the declaration relates in respect of the period covered by the declaration; and (b) interest in respect of those amounts; are payable, as soon as practicable after the declaration is made, to the fund out of which the productivity related benefits to which the employee is entitled as mentioned in subsection 110E(2) are payable.". (2) Section 110EA of the Principal Act as amended by this section applies only in respect of declarations made after the commencement of this section and, despite the amendment, section 110EA of the Principal Act continues to apply in respect of declarations made before that commencement. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - DIVISION 9 Division 9-Other amendments SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 64 Object of Division SECT 64. The object of this Division is to make amendments to correct various technical defects in the Principal Act. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 65 Insertion of new section SECT 65.(1) After section 4 of the Principal Act the following section is inserted: Declarations, determinations, approvals etc. by Minister, Board or Commissioner "4AA.(1) If a provision of this Act refers to a declaration or determination made, approval given or other thing done by the Minister, the Board or the Commissioner and there is no other provision in this Act expressly authorising the Minister, the Board or the Commissioner to make such a declaration or determination, give such an approval or do such a thing, the Minister, the Board or the Commissioner, as the case may be, is, and is taken to have at all times been, authorised to make such a declaration or determination, give such an approval or do such a thing. (2) An approval given by the Minister for the purposes of the definition of 'temporary employee' in subsection 3(1) may take effect on a day not earlier than: (a) 12 months before the giving of the approval; or (b) if contributions have been accepted before the start of that period of 12 months from, or in respect of, the person to whom the approval relates-the earliest day on which contributions were so accepted.". (2) Subsection 4AA(1) of the Principal Act as amended by subsection (1) of this section is taken to have had effect on and from 1 July 1976. (3) An approval given before the commencement of this section for the purposes of the definition of "temporary employee" in subsection 3(1) of the Superannuation Act 1976 that purported to take effect on a day earlier than the day on which the approval was given has the effect, and is taken to have at all times had the effect, that it would have, or would have had, if subsection 4AA(2) of the Principal Act as amended by subsection (1) of this section had been in force when the approval was given. SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 66 Interpretation SECT 66. Section 62A of the Principal Act is amended: (a) by omitting from paragraph (a) of the definition of "notional accumulated SG contributions" in subsection (1) "(4)" and substituting "(5)"; (b) by omitting from paragraph (a) of the definition of "relevant period of employment" in subsection (1) "1993" and substituting "1994"; (c) by omitting from the definition of "relevant period of employment" in subsection (1) all the words and paragraphs after paragraph (b). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 67 Preservation of portion of benefit SECT 67. Section 62B of the Principal Act is amended by omitting from the definition of "AEC" in subsection (3) "1993" and substituting "1994". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 68 Accumulated employer contributions SECT 68. Section 110Q of the Principal Act is amended by omitting from subsection (1B) "(1)" and substituting "(1A)". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 69 Interpretation SECT 69. Section 110SB of the Principal Act is amended: (a) by omitting from paragraph (a) of the definition of "notional accumulated SG contributions" in subsection (1) "(4)" and substituting "(5)"; (b) by omitting from the definition of "relevant period of employment" in subsection (1) all the words and paragraphs after paragraph (b). SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 70 Payments into and out of Consolidated Revenue Fund SECT 70. Section 112 of the Principal Act is amended: (a) by inserting after subsection (10) the following subsection: (10AA) If payment of a pension and benefit (if any) to a person is postponed under subsection 110TA(1), subsection (1A) does not apply in relation to the person."; (b) by inserting after subsection (10A) the following subsection: (10AAA) If a pension the payment of which has been postponed under subsection 110TA(1) becomes payable to or in respect of a person, the person's Fund accumulated employer contributions (if any) must be paid out of the Superannuation Fund into the Consolidated Revenue Fund."; (c) by omitting from subsection (10B) "Subject to subsection (10C), where" and substituting "If"; (d) by omitting from subsection (10B) "section 110TA" and substituting "subsection 110TA(2) "; (e) by inserting after subsection (10B) the following subsection: (10BA) If a person who has postponed payment of a pension and benefit (if any) under subsection 110TA(1) dies and there is no beneficiary to whom a pension and benefit (if any) are payable in respect of the person, an amount equal to the person's Fund accumulated employer contributions (if any) must be paid out of the Superannuation Fund into the Consolidated Revenue Fund."; (f) by omitting from subsection (10C) "subsection (10B) does not apply in relation to the person's accumulated contributions" and substituting "the person's Fund accumulated employer contributions (if any) must be paid out of the Superannuation Fund into the Consolidated Revenue Fund;". SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 -