Commonwealth Numbered Acts

SUPERANNUATION LEGISLATION AMENDMENT ACT 1994 No. 86, 1994 - SECT 13

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.