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SUPERANNUATION (PSS) APPROVED AUTHORITY EXCLUSION DECLARATION NO. 1 1993 NO. 1

SUPERANNUATION (PSS) APPROVED AUTHORITY EXCLUSION DECLARATION NO. 1 1993 NO. 1

EXPLANATORY STATEMENT

STATUTORY RULES 1993 No. 1

Issued by the authority of the Minister for Finance

Superannuation Act 1990

Declaration under paragraph (a) of the definition of 'approved authority' in section 3

The Superannuation Act 1990 (the Act) makes provision for and in relation to an occupational superannuation scheme (the PSS scheme) for Commonwealth employees and certain other persons. In accordance with section 6 of the Act and the definitions of 'permanent employee' and 'temporary employee' in section 3, persons who may become members of the PSS scheme include persons employed in a permanent or temporary capacity by an approved authority.

In accordance with section 3 of the Act, the term 'approved authority' means -

(a)        an authority or body that was, immediately before 1 July 1990, an approved authority for the purposes of the Superannuation Act 1976 (other than any such authority or body declared, in writing, by the Minister for Finance not to be an approved authority for the purposes of the Act); and

(b)       an authority or body of a kind described in paragraph (b) of the definition that is declared by the Minister for Finance to be an approved authority for the purposes of the Act.

The provisions of the Australian and Overseas Telecommunications Corporation Act 1991 had the effect of merging the Australian Telecommunications Corporation and OTC Limited into the Australian and Overseas Telecommunications Corporation.

The declaration contained in the Statutory Rule, and cited as 'Superannuation (PSS) Approved Authority Exclusion Declaration No. 1' repeals and remakes an earlier declaration which was cited as 'Approved Authority Exclusion Declaration No. 1' and published as Statutory Rules 1990 No. 163. That earlier declaration excluded, in accordance with paragraph (a) of the definition of 'approved authority', a number of authorities and bodies from that definition, amongst them the Australian Telecommunications Corporation and OTC Limited. The revised declaration incorporates some drafting improvements to the earlier declaration, omits the references to 'Australian Telecommunications Corporation' and 'OTC Limited', and in their place excludes the Australian and Overseas Telecommunications Corporation from the definition of 'approved authority for the purposes of the Act.

In accordance with section 45 of the Act, a declaration for the purposes of paragraph (a) of the definition of 'approved authority' is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 and a Statutory Rule for the purposes of the Statutory Rules Publication Act 1903.

The declaration operates with effect from the date of gazettal.

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