New South Wales Bills New South Wales Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
New South Wales
Superannuation Administration
Amendment Bill 2008
Contents
Page
1 Name of Act 2
2 Commencement 2
3 Amendment of Superannuation Administration Act 1996
No 39 2
4 Amendment of other Acts 2
5 Repeal of Act 2
Schedule 1 Amendment of Superannuation Administration Act 1996 3
Schedule 2 Amendment of other Acts 5
b2007-158-28.d24
New South Wales
Superannuation Administration
Amendment Bill 2008
No , 2008
A Bill for
An Act to amend the Superannuation Administration Act 1996 and certain other
public sector superannuation Acts with respect to surplus funds in employer reserves
and disputes; and for other purposes.
Clause 1 Superannuation Administration Amendment Bill 2008
The Legislature of New South Wales enacts: 1
1 Name of Act 2
This Act is the Superannuation Administration Amendment Act 2008. 3
2 Commencement 4
This Act commences on the date of assent to this Act. 5
3 Amendment of Superannuation Administration Act 1996 No 39 6
The Superannuation Administration Act 1996 is amended as set out in 7
Schedule 1. 8
4 Amendment of other Acts 9
The Acts specified in Schedule 2 are amended as set out in that 10
Schedule. 11
5 Repeal of Act 12
(1) This Act is repealed on the day following the day on which this Act 13
commences. 14
(2) The repeal of this Act does not, because of the operation of section 30 15
of the Interpretation Act 1987, affect any amendment made by this Act. 16
Page 2
Superannuation Administration Amendment Bill 2008
Amendment of Superannuation Administration Act 1996 Schedule 1
Schedule 1 Amendment of Superannuation 1
Administration Act 1996 2
(Section 3) 3
[1] Section 4 Definitions 4
Insert in alphabetical order: 5
State sector employer means an employer under an STC scheme 6
that is included in the consolidated financial report for the Total 7
State Sector under section 6 (1) of the Public Finance and Audit 8
Act 1983. 9
surplus funds means the funds in an employer's reserve in an 10
account maintained under section 81 that are in excess of the 11
amount that is required to meet current and future liabilities under 12
the STC scheme to which the account relates. The amount of 13
surplus funds is the amount that is actuarially determined in 14
accordance with Accounting Standard AASB 119: Employee 15
Benefits made by the Australian Accounting Standards Board (as 16
in force from time to time) or another standard prescribed by the 17
regulations. 18
[2] Section 67, note 19
Insert at the end of the section: 20
Note. The rights of a scheme member or other person to lodge a dispute with STC in 21
relation to an STC scheme are set out in the Police Regulation (Superannuation) Act 22
1906, section 23E; the State Authorities Non-contributory Superannuation Act 1987, 23
section 33B; the State Authorities Superannuation Act 1987, section 54B and the 24
Superannuation Act 1916, section 85A. 25
[3] Section 72 Employee representative members 26
Omit section 72 (4). 27
[4] Section 74 Chief executive officer of STC 28
Omit "Part 2A of the Public Sector Management Act 1988, but is not subject 29
to Part 2" from section 74 (4). 30
Insert instead "Part 3.1 of the Public Sector Employment and Management Act 31
2002, but is not subject to Chapter 1A or 2". 32
[5] Section 74 (8) 33
Omit the subsection. 34
Page 3
Superannuation Administration Amendment Bill 2008
Schedule 1 Amendment of Superannuation Administration Act 1996
[6] Section 81A 1
Insert after section 81: 2
81A Adjustment of employer reserves for surplus funds 3
(1) STC may, at the request of the Treasurer, debit all or part of the 4
surplus funds from an employer reserve of a State sector 5
employer and credit that amount to any one or more of the 6
following: 7
(a) an employer reserve of that employer in an account 8
maintained in relation to another STC scheme, 9
(b) the employer reserve of one or more other State sector 10
employers in an account maintained in relation to the same 11
or another STC scheme. 12
(2) STC may, at the request of an employer who is not a State sector 13
employer and with the approval of the Treasurer, debit all or part 14
of the surplus funds from the employer's reserve and pay that 15
amount to that employer. 16
[7] Section 85 Administration costs generally 17
Omit section 85 (7). 18
[8] Schedule 2 Provisions relating to STC Board 19
Omit "Part 2 of the Public Sector Management Act 1988" from clause 9 (1). 20
Insert instead "Chapter 2 of the Public Sector Employment and Management 21
Act 2002". 22
Page 4
Superannuation Administration Amendment Bill 2008
Amendment of other Acts Schedule 2
Schedule 2 Amendment of other Acts 1
(Section 4) 2
2.1 Police Regulation (Superannuation) Act 1906 No 28 3
Section 23E 4
Insert after section 23D: 5
23E Disputes 6
(1) If STC makes a decision under this Act in relation to a contributor 7
or other person, STC must give to the contributor or other person 8
notice in writing of: 9
(a) the decision, and 10
(b) the right to dispute the decision, and 11
(c) the time within which notice of a dispute must be served 12
on STC. 13
(2) A contributor or other person who is aggrieved by a decision 14
made by STC has a right to dispute that decision and to have the 15
dispute determined under the Superannuation Administration Act 16
1996. 17
(3) Notice of the dispute must be served on STC within 2 years after 18
the aggrieved person is notified in writing of the right to dispute 19
that decision. 20
(4) This section applies to a decision made before, on or after the 21
commencement of this section, except a decision in respect of 22
which a dispute has been notified to STC before the 23
commencement of this section. 24
(5) This section does not apply to a decision to which section 21 25
applies. 26
2.2 State Authorities Non-contributory Superannuation Act 27
1987 No 212 28
Section 33B 29
Insert after section 33A: 30
33B Disputes 31
(1) If STC makes a decision under this Act in relation to an employee 32
or other person, STC must give to the employee or other person 33
notice in writing of: 34
Page 5
Superannuation Administration Amendment Bill 2008
Schedule 2 Amendment of other Acts
(a) the decision, and 1
(b) the right to dispute the decision, and 2
(c) the time within which notice of a dispute must be served 3
on STC. 4
(2) An employee or other person who is aggrieved by a decision 5
made by STC has a right to dispute that decision and to have the 6
dispute determined under the Superannuation Administration Act 7
1996. 8
(3) Notice of the dispute must be served on STC within 2 years after 9
the aggrieved person is notified in writing of the right to dispute 10
that decision. 11
(4) This section applies to a decision made before, on or after the 12
commencement of this section, except a decision in respect of 13
which a dispute has been notified to STC before the 14
commencement of this section. 15
2.3 State Authorities Superannuation Act 1987 No 211 16
Section 54B 17
Insert after section 54A: 18
54B Disputes 19
(1) If STC makes a decision under this Act in relation to a contributor 20
or other person, STC must give to the contributor or other person 21
notice in writing of: 22
(a) the decision, and 23
(b) the right to dispute the decision, and 24
(c) the time within which notice of a dispute must be served 25
on STC. 26
(2) A contributor or other person who is aggrieved by a decision 27
made by STC has a right to dispute that decision and to have the 28
dispute determined under the Superannuation Administration Act 29
1996. 30
(3) Notice of the dispute must be served on STC within 2 years after 31
the aggrieved person is notified in writing of the right to dispute 32
that decision. 33
(4) This section applies to a decision made before, on or after the 34
commencement of this section, except a decision in respect of 35
which a dispute has been notified to STC before the 36
commencement of this section. 37
Page 6
Superannuation Administration Amendment Bill 2008
Amendment of other Acts Schedule 2
2.4 Superannuation Act 1916 No 28 1
Section 85A 2
Insert after section 85: 3
85A Disputes 4
(1) If STC makes a decision under this Act in relation to a contributor 5
or other person, STC must give to the contributor or other person 6
notice in writing of: 7
(a) the decision, and 8
(b) the right to dispute the decision, and 9
(c) the time within which notice of a dispute must be served 10
on STC. 11
(2) A contributor or other person who is aggrieved by a decision 12
made by STC has a right to dispute that decision and to have the 13
dispute determined under the Superannuation Administration Act 14
1996. 15
(3) Notice of the dispute must be served on STC within 2 years after 16
the aggrieved person is notified in writing of the right to dispute 17
that decision. 18
(4) This section applies to a decision made before, on or after the 19
commencement of this section, except a decision in respect of 20
which a dispute has been notified to STC before the 21
commencement of this section. 22
Page 7
[Index] [Search] [Download] [Related Items] [Help]