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This is a Bill, not an Act. For current law, see the Acts databases.
South Australia
Local Government (Superannuation Scheme) Amendment
Bill 2008
A BILL FOR
An Act to amend the Local Government Act 1999.
Contents
Part 1—Preliminary
1 Short
title
2 Commencement
3 Amendment provisions
Part 2—Amendment of Local Government
Act 1999
4 Amendment of Schedule 1—Provisions relating
to organisations that provide services to the local government sector
Part 2—Local Government Superannuation
Scheme
3 Local Government Superannuation
Scheme
Schedule 1—Transitional
provisions
1 Interpretation
2 Continuation of Local Government
Superannuation Scheme
3 Making and commencement of trust
deed
4 Establishment of company
5 Requirements for new scheme and trust
deed
6 Dissolution of Local Government Superannuation Board
7 Transfer of
assets and liabilities
8 Stamp duty
9 Revocation of
regulations
10 Saving provision
11 Application of Schedule
12 Other
provisions
The Parliament of South Australia enacts as
follows:
This Act may be cited as the Local Government (Superannuation Scheme)
Amendment Act 2008.
(1) Subject to subsection (2), this Act will come into operation on
the day on which it is assented to by the Governor.
(2) Section 4 will come into operation on a day to be fixed by
proclamation.
In this Act, a provision under a heading referring to the amendment of a
specified Act amends the Act so specified.
Part 2—Amendment
of Local Government
Act 1999
4—Amendment
of Schedule 1—Provisions relating to organisations that provide services
to the local government sector
Schedule 1, Part 2—delete Part 2 and substitute:
Part 2—Local Government Superannuation
Scheme
3—Local Government Superannuation
Scheme
(1) The scheme known as the Local Government Superannuation Scheme
continues in existence.
(2) Subclause (1) applies subject to the operation of Schedule 1 of
the Local Government (Superannuation Scheme) Amendment Act
2008.
(3) This Act and the Local Government (Superannuation Scheme) Amendment
Act 2008 are to be read together as if the 2 Acts formed a single Act, and a
contribution by an employer for the benefit of an employee who is a member of
the Local Government Superannuation Scheme will therefore be a contribution
under this Act.
(4) This Part will expire on a day to be fixed by proclamation.
Schedule
1—Transitional provisions
In this Schedule—
asset includes—
(a) a present, contingent or future legal or equitable estate or interest
in real or personal property; or
(b) a present, contingent or future right, power, privilege or
immunity;
Board means the Local Government Superannuation
Board;
company means the company to be established by the Board in
accordance with clause 4;
council means a council constituted under the relevant
Act;
liability includes a present, contingent or future liability
or obligation;
new scheme means the Local Government Superannuation Scheme
continued in existence under a trust deed pursuant to this Schedule;
old scheme means the Local Government Superannuation Scheme
under the relevant Act before the relevant day;
participating employer—a council or other authority or
body is a participating employer for the purposes of the Local Government
Superannuation Scheme if employees or former employees of the council, authority
or body are members of the scheme;
relevant Act means the Local Government
Act 1999;
relevant day means the day on which section 4 of this
Act comes into operation;
trust deed means the trust deed to be prepared by the Board
in accordance with clause 3.
2—Continuation of
Local Government Superannuation Scheme
(1) The scheme known as the Local Government Superannuation Scheme
is to continue in existence under a trust deed.
(2) A council or other authority or body that is a participating employer
for the purposes of the old scheme immediately before the relevant day is to be
a participating employer for the purposes of the new scheme and will be taken to
be a signatory to the trust deed.
(3) A council or other authority or body that is within the ambit of
subclause (2) must remain as a participating employer for the purposes of
the new scheme for a period of at least 3 years following the commencement of
the trust deed.
(4) Subclause (3) does not derogate—
(a) from the operation of clause 5(5); or
(b) from the operation of any other provision of this Schedule or of the
trust deed.
3—Making
and commencement of trust deed
(1) A trust deed is to be prepared by the Board for the purposes of
continuing the Local Government Superannuation Scheme.
(2) The trust deed will commence on a day specified by the Treasurer by
notice in the Gazette.
(3) The Treasurer may not issue a notice under subclause (2) until he
or she is satisfied—
(a) that a company has been established in accordance with the
requirements specified in clause 4; and
(b) that the trust deed meets the requirements specified in
clause 5.
(1) The Board is to establish a company to administer the new scheme in
accordance with the trust deed.
(2) The members of the Board at the time of the dissolution of the Board
are to be members of the board of directors of the company on the relevant
day.
(3) A vacancy in the membership of the board of directors on the relevant
day because of a vacancy in the Board's membership is to be filled in accordance
with the constitution of the company (and subsequent vacancies will also be
filled in accordance with the constitution of the company).
(4) A legal obligation of the Board at the time of the dissolution of the
Board becomes, by force of this subclause, a legal obligation of the company
(unless otherwise excluded by the Treasurer by notice in the Gazette).
(5) To avoid doubt, subclause (4) includes the obligation to manage
financial records and accounts, to prepare financial statements and to arrange
any audit associated with the activities of the Board and the operations of the
old scheme before the dissolution of the Board under this Schedule.
5—Requirements
for new scheme and trust deed
(1) Subject to this clause, the terms, conditions, benefit structure and
membership of the old scheme immediately before the relevant day are to be
continued under the trust deed in relation to the new scheme unless and until
varied in accordance with the terms of the trust deed.
(2) For the purposes of subclause (1), an amendment to the old scheme
made by regulation under clause 3 of Schedule 1 Part 2 of the relevant Act that
has not come into operation before the relevant day will be taken to have come
into operation immediately before that day.
(3) The trust deed is to provide that the trustee for the new scheme will
be the company.
(4) The company is to continue to hold office as trustee unless and until
another company is appointed to that role in accordance with the terms of the
trust deed.
(5) A participating employer is to be required under the trust deed to
continue making the required employer contributions in relation to an employee
who is a member of the new scheme for as long as the employer continues to be
liable in relation to the member.
6—Dissolution of
Local Government Superannuation Board
The Board is dissolved by force of this clause on the relevant
day.
7—Transfer of
assets and liabilities
(1) On the commencement of the trust deed, the assets and liabilities of
the old scheme are transferred to the company for the purposes of the new
scheme.
(2) The transfer of assets and liabilities under this clause operates by
force of this clause and despite the provisions of any other law.
(1) No stamp duty is payable under a law of this State in respect of any
transfer of assets or liabilities connected with, or arising out of, the
operation of this Schedule.
(2) No person has an obligation under the Stamp Duties
Act 1923 to lodge a statement or return relating to a matter referred
to in subclause (1), or to include in a statement or return a record or
information relating to such a matter.
On the relevant day, all regulations made under clause 3 of Schedule 1 Part
2 of the relevant Act are revoked.
Nothing done under this Schedule—
(a) constitutes a breach of, or default under, an Act or other law;
or
(b) constitutes a breach of, or default under, a contract, agreement,
understanding or undertaking; or
(c) constitutes a breach of a duty of confidence (whether arising by
contract, in equity or by custom or in any other way); or
(d) constitutes a civil or criminal wrong; or
(e) terminates an agreement or obligation or fulfils any condition that
allows a person to terminate an agreement or obligation, or gives rise to any
other right or remedy; or
(f) releases a surety or other obligee wholly or in part from an
obligation.
It is the intention of the Parliament that this Schedule apply within the
State and outside the State to the full extent of the extra-territorial
legislative capacity of the Parliament.
(1) The Governor may, by regulation, make additional provisions of a
saving or transitional nature consequent on the enactment of this Act.
(2) A provision of a regulation made under subclause (1) may, if the
regulation so provides, take effect from the commencement of this Act or from a
later day.
(3) To the extent to which a provision takes effect under
subclause (2) from a day earlier than the day of the regulation's
publication in the Gazette, the provision does not operate to the disadvantage
of a person by—
(a) decreasing the person's rights; or
(b) imposing liabilities on the person.
(4) The Acts Interpretation Act 1915 will, except to the
extent of any inconsistency with the provisions of this Schedule, apply to any
amendment effected by this Act.