Contents

1............ Short title [see Note 1]....................................................................... 1

2............ Commencement.................................................................................. 1

3............ Interpretation...................................................................................... 1

4............ Application......................................................................................... 4

4A......... Declarations etc. by Minister............................................................. 4

5............ Restrictions upon provision of superannuation................................. 4

6............ Prescribed requirements for provision of superannuation benefits.... 6

7............ Effect of contravention of prescribed requirements........................... 8

8............ Delegation by Minister..................................................................... 11

9............ Consequential amendments and transitional provisions................... 12

Notes                                                                                                                                             16

 

 

 

 

Notes to the Superannuation Benefits (Supervisory Mechanisms) Act 1990

Note 1

The Superannuation Benefits (Supervisory Mechanisms) Act 1990 as shown in this compilation comprises Act No. 39, 1990 amended as indicated in the Tables below.

The Superannuation Benefits (Supervisory Mechanisms) Act 1990 is affected by section 51 of the CSL Sale Act 1993.

For application, saving or transitional provisions made by the Corporations (Repeals, Consequentials and Transitionals) Act 2001, see Act No. 55, 2001.

Table of Acts

Act	Number and year	Date of Assent	Date of commencement	Application, saving or transitional provisions
Superannuation Benefits (Supervisory Mechanisms) Act 1990	39, 1990	7 June 1990	1 July 1990
Superannuation Legislation Amendment Act 1991	130, 1991	2 Sept 1991	Ss. 79 and 80: Royal Assent (a)	--
Qantas Sale Act 1992	196, 1992	21 Dec 1992	Schedule (Parts 3 and 6): (b)	S. 2(6) (am. by 60, 1993, s. 4; 168, 1994, s. 3)
as amended by
Qantas Sale Amendment Act 1993	60, 1993	3 Nov 1993	10 Mar 1993	--
Qantas Sale Amendment Act 1994	168, 1994	16 Dec 1994	S. 3 (item 17): Royal Assent (c)	--
Superannuation Industry (Supervision) Consequential Amendments Act 1993	82, 1993	30 Nov 1993	Part 10 (ss. 52, 53): 1 Dec 1993 (d)	--
Superannuation Legislation Amendment Act 1994	86, 1994	23 June 1994	Div. 2-8 of Part 2 (ss. 4-63), ss. 66(a), (c), 79-87 and 92-98: 1 July 1994 Ss. 66(b) and 67: 1 July 1993 S. 69: 1 July 1992 S. 76: 1 July 1990 Remainder: Royal Assent	Ss. 92, 95(2)-(5), 96(2) and 97(2)
as amended by
Statute Law Revision Act 1996	43, 1996	25 Oct 1996	Schedule 3 (items 114, 115): 23 June 1994 (e)	--
Public Employment (Consequential and Transitional) Amendment Act 1999	146, 1999	11 Nov 1999	Schedule 1 (items 890, 891): 5 Dec 1999 (see Gazette 1999, No. S584) (f)	--
Corporations (Repeals, Consequentials and Transitionals) Act 2001	55, 2001	28 June 2001	Ss. 4-14 and Schedule 3 (item 496): 15 July 2001 (see Gazette 2001, No. S285 (g)	Ss. 4-14
Superannuation (Consequential Amendments) Act 2005	81, 2005	29 June 2005	Schedule 4: 1 July 2005	--

 

(a)     The Superannuation Benefits (Supervisory Mechanisms) Act 1990 was amended by sections 79 and 80 only of the Superannuation Legislation Amendment Act 1991, subsection 2(1) of which provides as follows:

                 (1)   Subject to this section, this Act commences on the day on which it receives the Royal Assent.

(b)    The Superannuation Benefits (Supervisory Mechanisms) Act 1990 was amended by the Qantas Sale Act 1992, subsections 2(2), (5) and (6) of which provide as follows:

                 (2)   Subject to subsection (3), the remaining provisions of this Act commence on a day or days to be fixed by Proclamation.

                 (5)   If, on the 100% sale day, Part 3 of the Schedule has not commenced, then, on the day on which Part 7 of the Schedule commences, Parts 3 and 6 of the Schedule are taken to have been repealed.

                 (6)   If a provision of this Act has not commenced before 31 August 1995, the provision is taken to have been repealed on that day.

         The Schedule (Parts 3 and 6) are taken to have been repealed on 31 August 1995.

(c)     The Qantas Sale Act 1992 was amended by section 3 (item 17) only of the Qantas Sale Amendment Act 1994, subsection 2(1) of which provides as follows:

                 (1)   Subject to this section, this Act commences on the day on which it receives the Royal Assent.

(d)     The Superannuation Benefits (Supervisory Mechanisms) Act 1990 was amended by Part 10 (sections 52 and 53) only of the Superannuation Industry (Supervision) Consequential Amendments Act 1993, subsection 2(1) of which provides as follows:

                 (1)   Subject to subsection (2), this Act commences on 1 December 1993.

(e)     The Superannuation Legislation Amendment Act 1994 was amended by Schedule 3 (items 114 and 115) only of the Statute Law Revision Act 1996, subsection 2(3) of which provides as follows:

                 (3)   Each item in Schedule 3 is taken to have commenced when the Act containing the provision amended by the item received the Royal Assent.

(f)      The Superannuation Benefits (Supervisory Mechanisms) Act 1990 was amended by Schedule 1 (items 890 and 891) only of the Public Employment (Consequential and Transitional Amendment Act 1999, subsections 2(1) and (2) of which provide as follows:

                 (1)   In this Act, commencing time means the time when the Public Service Act 1999 commences.

                 (2)   Subject to this section, this Act commences at the commencing time.

(g)     The Superannuation Benefits (Supervisory Mechanisms) Act 1990 was amended by Schedule 3 (item 496) only of the Corporations (Repeals, Consequentials and Transitionals) Act 2001, subsection 2(3) of which provides as follows:

                 (3)   Subject to subsections (4) to (10), Schedule 3 commences, or is taken to have commenced, at the same time as the Corporations Act 2001 commences.

Table of Amendments

ad. = added or inserted      am. = amended      rep. = repealed    rs. = repealed and substituted
Provision affected	How affected
S. 3......................................	am. No. 86, 1994; No. 146, 1999; No. 81, 2005
S. 4A...................................	ad. No. 86, 1994
S. 5......................................	am. No. 86, 1994 (as am. by No. 43, 1996)
S. 6......................................	am. No. 130, 1991
	rs. No. 86, 1994
	am. No. 146, 1999; No. 55, 2001; No. 81, 2005
S. 7......................................	am. No. 86, 1994
S. 8......................................	am. No. 81, 2005
S. 9......................................	am. No. 86, 1994 (as am. by No. 43, 1996)