New South Wales Consolidated Acts

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SUPERANNUATION ADMINISTRATION ACT 1996 - SECT 4

Definitions

4 Definitions

In this Act:
"benefit" means a pension or lump sum retirement or superannuation benefit.
"exercise" a function includes perform a duty.
"function" includes a power, authority or duty.
"local authority" means a council within the meaning of the Local Government Act 1993 .
"public authority" means a person or body constituted or established by an Act for a public purpose.
"SAC" means the Corporation constituted under the Superannuation Administration Authority Corporatisation Act 1999 .
"State sector employer" means an employer under an STC scheme that is included in the consolidated financial report for the Total State Sector under section 6 (1) of the Public Finance and Audit Act 1983 .
"STC" means the SAS Trustee Corporation continued by this Act.
"STC dispute function" means the principal function, referred to in section 50 (1) (e), to determine disputes under the Acts under which the STC schemes are established or constituted.
"STC disputes committee" means a committee delegated the STC dispute function under section 77.
"STC fund" or "STC scheme" means a superannuation fund or superannuation scheme established or constituted under any of the following Acts:

(a) Police Regulation (Superannuation) Act 1906 ,
(b) Superannuation Act 1916 ,
(c) Local Government and Other Authorities (Superannuation) Act 1927 ,
(d) Transport Employees Retirement Benefits Act 1967 ,
(e) New South Wales Retirement Benefits Act 1972 ,
(f) Public Authorities Superannuation Act 1985 ,
(g) State Public Service Superannuation Act 1985 ,
(h) State Authorities Superannuation Act 1987 ,
(i) State Authorities Non-contributory Superannuation Act 1987 .
"superannuation fund" means a fund established under a superannuation scheme.
"superannuation scheme" means a scheme, fund or arrangement (whether or not established by an Act) under which any benefits are provided.
"surplus funds" means the funds in an employer’s reserve in an account maintained under section 81 that are in excess of the amount that is required to meet current and future liabilities under the STC scheme to which the account relates. The amount of surplus funds is the amount that is actuarially determined in accordance with Accounting Standard AASB 119: Employee Benefits made by the Australian Accounting Standards Board (as in force from time to time) or another standard prescribed by the regulations.



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