Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT (SUPERANNUATION) ACT 1992 No. 208 of 1992 - SECT 16

16. Section 267 of the Principal Act is amended:

   (a)  by omitting from subsection (1) the definition of
   "superannuation agreement contribution" and substituting the
following definition:

"'superannuation agreement contribution', in relation to a person (the
'eligible person'), means an eligible superannuation contribution made in
relation to the eligible person under:

   (a)  a superannuation agreement that has been made or ratified by an
        industrial tribunal in accordance with the Commission's superannuation
        principles; or

   (b)  an agreement that:

        (i)    is a superannuation agreement that has not been ratified by an
               industrial tribunal; and

        (ii)   was entered into in connection with and, in the opinion of the
               Commissioner, is identical or nearly identical to, another
               superannuation agreement that:

                (A)  has been made or ratified by an industrial tribunal in
                     accordance with the Commission's superannuation
                     principles; and

                (B)  relates to persons engaged in the same industry as the
                     industry in which the eligible person is engaged;";

   (b)  by inserting in subsection (1) the following definitions:

"'Commission's superannuation principles' means:

   (a)  the principles relating to the making or ratification of
        superannuation agreements set out in a decision given on 26 June 1986
        by the Australian Conciliation and Arbitration Commission in a
        National Wage Case; or

   (b)  if those principles are varied by:

        (i)    the Australian Conciliation and Arbitration Commission; or

        (ii)   the Australian Industrial Relations Commission; in a subsequent
               National Wage Case-those principles as so varied;
'eligible superannuation contributions', in relation to a person, means
contributions made (otherwise than by the person) to a complying
superannuation fund or funds to obtain superannuation benefits for the person
or, in the event of the death of the person, for the dependants of the person;
'industrial tribunal' means an industrial tribunal constituted under a law of
the Commonwealth or of a State or Territory;
'superannuation agreement' means an agreement, award, determination or order
that requires the making of eligible superannuation contributions in relation
to persons engaged in a particular industry;".