New South Wales Consolidated Acts

COAL AND OIL SHALE MINE WORKERS (SUPERANNUATION) ACT 1941 - SCHEDULE 3

SCHEDULE 3 – Accumulation Fund and Restructuring Agreement

(Section 2)

Part 1 - Accumulation Fund

1 Parties to Agreement

For the purposes of the definition of "Restructuring Agreement" in section 2 (1), the parties to the Agreement are:

• The New South Wales Coal Association, a registered organisation of employers, 221 Elizabeth Street, Sydney, New South Wales.

• Cumnock No 1 Colliery Pty Ltd, a registered company, of PO Box 246, Singleton, New South Wales.

• The United Mine Workers, a Division of the Construction, Forestry and Mining Employees’ Union, a registered trade union, 72-74 Buckingham Street, Surry Hills, New South Wales.

• The Federated Engine Drivers’ and Firemens’ Association, a registered trade union, 361 Kent Street, Sydney, New South Wales.

• The Metal and Engineering Workers’ Union, a registered trade union, 136 Chalmers Street, Surry Hills, New South Wales.

• The Electrical Trades Union of Australia, a registered trade union, 52 Bay Street, Rockdale, New South Wales.

• The Australian Collieries’ Staff Association, 91 Frederick Street, Merewether, New South Wales.

• The Colliery Officials’ Association of NSW, a registered trade union, Unit 7 Medcalf Centre, 50 Medcalf Street, Warners Bay, New South Wales.

• The New South Wales Coal Mine Managers’ Association, a registered trade union, Lot 8 Rodney Road, Mt Vincent, New South Wales.

Part 2 - Renegotiation of Restructuring Agreement

(Sections 14R and 32A)

2 Text of Restructuring Agreement

The text of clause 10 of the Restructuring Agreement is as set out below.

10 RENEGOTIATION

(a) The parties recognise that during the life of this Agreement, circumstances on which this Agreement is founded may change. In the event that such changes occur and the intention of the parties to this Agreement is significantly adversely affected, the parties commit to renegotiation of this Agreement. Any renegotiation between the parties will commence from the basis of the funding arrangements which were in place immediately prior to the commencement of this Agreement i.e. contributions as a percentage of the Reference Rate of:

• employer contributions-7.5% ordinary and 5.5% special

• employee contributions-2.5% ordinary and 1.75% special

(b) Changed circumstances which would necessitate a renegotiation of the 1992 Restructuring Agreement and the 1999 Superannuation Agreement include, but are not limited to:

(i) changes in marginal tax rates which reduce the benefit of salary sacrifice;

(ii) a judicial decision or interpretation, legislation or a Tax Office ruling, that the methods adopted to fund CoalSuper are no longer available, or are significantly less effective, or unenforceable;

(iii) amendment to the MP Act, or other legislative change, the result of which makes the 1992 Restructuring Agreement or the 1999 Superannuation Agreement, significantly less effective;

(iv) legislation which invalidates or impairs the operation of the Salary Sacrifice Agreement.

Part 3 - 1999 Superannuation Agreement

3 Parties

For the purpose of the definition of "1999 Superannuation Agreement" in section 2 (1), the parties to the Agreement are:

• NEW SOUTH WALES MINERALS COUNCIL LIMITED, a Company limited by guarantee whose registered office is situated at 13 th Floor, 227 Elizabeth Street, Sydney, New South Wales, 2000.

• CONSTRUCTION FORESTRY MINING AND ENERGY UNION, MINING AND ENERGY DIVISION, an organisation registered under the Workplace Relations Act, 1996 Commonwealth whose registered office is situated at 13-15 Wentworth Avenue, East Sydney, New South Wales, 2011.

• AUTOMOTIVE, FOOD, METALS, ENGINEERING, PRINTING AND KINDRED INDUSTRIES UNION, NEW SOUTH WALES BRANCH, an organisation of employees registered under the Industrial Relations Act, 1996 New South Wales whose registered office is situated at 133 Parramatta Road, Granville, New South Wales, 2142.

• ELECTRICAL TRADES UNION OF AUSTRALIA, NEW SOUTH WALES BRANCH, an organisation of employees registered under the Industrial Relations Act, 1996 , New South Wales whose registered office is situated at Level 5, 370 Pitt Street, Sydney, New South Wales, 2000.

• AUSTRALIAN COLLIERIES’ STAFF ASSOCIATION an organisation registered under the Workplace Relations Act, 1996 , Commonwealth whose registered office is situated at 91 Frederick Street, Merewether, New South Wales, 2291.

• THE COLLIERY OFFICIALS ASSOCIATION OF NEW SOUTH WALES, an organisation of employees registered under the Industrial Relations Act, 1996 , New South Wales whose registered office is situated at Unit 7, 50 Medcalf Street, Warners Bay, New South Wales, 2282.

• NEW SOUTH WALES COAL MINE MANAGERS’ ASSOCIATION, an unregistered association whose office is situated at 10 Hallet Place, Singleton Heights, New South Wales, 2330.