Western Australian Consolidated Regulations Western Australian Consolidated Regulations (1) A regulation that
amends these regulations in such a way as will increase the contributions
payable by employers to the Fund to an amount in excess of 10% of the
benchmark amount shall not be made unless the employers have given their
consent to the amendment.
(2) A regulation that
amends these regulations in such a way as will increase a benefit payable
under these regulations shall not be made under the Act
unless —
(a) the
actuary has certified that the amendment will not or is not likely to result
in an increase in the contributions payable by the employers to the Fund; or
(b) the
employers have given their consent to the amendment.
(3) Without limiting
the operation of subregulations (1) and (2), and subject to
subregulation (4) and regulation 15(9), a regulation that amends
these regulations shall not be made under the Act unless —
(a) the
actuary has certified that the total value of the rights of members and their
dependants accrued at the time the amendment takes effect will not be reduced
by the amendment; or
(b) at
least two-thirds in number of the members for the time being have given their
written consent to the amendment.
(4)
Subregulation (3) does not apply to the making of a regulation that
amends these regulations in order to ensure that these regulations conform
with, or obtain the benefit of, a law of the State or Commonwealth governing,
regulating or affecting the operation or maintenance of superannuation,
pension or like funds.
(5) No amendment may
reduce a benefit contrary to the SIS Act 2 .
(6) No amendment may
enable an individual to be appointed to replace the Board as trustee of the
Fund unless, after the amendment, the Fund will comply with the SIS Act
2 .
[Regulation 53 amended in Gazette
31 Dec 1992 p. 6369; 14 May 1996 p. 2038;
8 Sep 1998 p. 4911.]
[Schedule 1 deleted in Gazette 30 Apr 2002 p. 2189.]
[Schedules 2, 2A, 2B and 2C deleted in Gazette 14 May 1996
p. 2039.]