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PARLIAMENT OF VICTORIA
Superannuation Acts (Miscellaneous Amendment)
Act 1997
Act No.
TABLE OF PROVISIONS
Clause Page
PART 1--PRELIMINARY 2
1. Purpose 2
2. Commencement 2
PART 2--AMENDMENT OF LOCAL AUTHORITIES
SUPERANNUATION ACT 1988 3
3. Amendment of section 23 3
4. New section 27A inserted 3
27A. Payments into Fund by Authority 3
PART 3--AMENDMENTS RELATING TO PORT OF
MELBOURNE AUTHORITY SUPERANNUATION FUND 5
5. Port of Melbourne Authority Act 1958 5
6. Superannuation (Portability) Regulations 1991 5
7. Port of Melbourne Authority (Superannuation) Regulations 1989 5
8. Public Sector Superannuation (Administration) Act 1993 5
9. State Superannuation Act 1988--PMASF provision 5
100. Transfer of assets in respect of PMASF 5
101. Provisions relating to transferred beneficiaries 7
PART 4--GENERAL AMENDMENTS 9
10. Public Sector Superannuation (Administration) Act 1993 9
11. State Employees Retirement Benefits Act 1979 9
12. State Superannuation Act 1988 9
13. Superannuation (Portability) Act 1989 10
14. Superannuation Acts (Amendment) Act 1996 10
15. Superannuation Acts (Further Amendment) Act 1996 10
16. Repeal of Spent Act 11
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Clause Page
17. Transport Superannuation Act 1988 11
18. Statute Law Revision 12
NOTES 13
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PARLIAMENT OF VICTORIA
A BILL
to amend the Local Authorities Superannuation Act 1988, the Port
of Melbourne Authority Act 1958, the Public Sector
Superannuation (Administration) Act 1993, the State Employees
Retirement Benefits Act 1979, the State Superannuation Act 1988,
the Superannuation (Portability) Act 1989, the Transport
Superannuation Act 1988 and certain other Acts and for other
purposes.
Superannuation Acts (Miscellaneous
Amendment) Act 1997
The Parliament of Victoria enacts as follows:
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 1
Act No.
PART 1--PRELIMINARY
1. Purpose
The purpose of this Act is to amend specified
superannuation legislation to facilitate further
5 changes in the administration of public sector
superannuation schemes.
2. Commencement
(1) Subject to this section, this Act comes into
operation on the day on which it receives the
10 Royal Assent.
(2) Section 9 is deemed to have come into operation
on 1 June 1997.
(3) Sections 5, 6, 7 and 8 come into operation on 30
June 1997.
15 _______________
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 3
Act No.
PART 2--AMENDMENT OF LOCAL AUTHORITIES
SUPERANNUATION ACT 1988
3. Amendment of section 23
After section 23(6) of the Local Authorities
5 Superannuation Act 1988 insert--
"(7) The Board may at any time request a further
actuarial determination as to any additional
amount or amounts to be paid into the Fund
by an Authority in respect of the unfunded
10 liability of the Fund relating to that
Authority.".
4. New section 27A inserted
After section 27 of the Local Authorities
Superannuation Act 1988 insert--
15 "27A. Payments into Fund by Authority
(1) Subject to sub-section (3), the Board may
determine the additional contributions to be
paid into the Fund by an Authority or a class
of Authority having regard to any
20 determination under section 23(7).
(2) Contributions under sub-section (1) may be
calculated--
(a) as a percentage or percentages of
salary; or
25 (b) as a multiple or multiples of an
employee's or former employee's
contribution; or
(c) as a proportion or proportions of the
benefit paid or payable; or
30 (d) as a fixed amount or lump sum; or
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 4
Act No.
(e) by any combination of the methods
specified in paragraphs (a), (b), (c) and
(d).
(3) A determination of the Board under this
5 section has no effect unless the
determination has been approved by the
Minister.
(4) An Authority must pay its contributions in
the manner and on such dates as are
10 determined by the Board in respect of that
Authority or the class of Authority of which
the Authority is a member.
(5) If an Authority does not within 14 days after
an amount has become payable pay the
15 whole of that amount to the Board, the
Authority must pay interest at the rate for the
time being fixed under section 2 of the
Penalty Interest Rates Act 1983 on the
amount remaining unpaid from the date on
20 which it became payable until the date on
which it is paid to the Board.".
_______________
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 5
Act No.
PART 3--AMENDMENTS RELATING TO PORT OF
MELBOURNE AUTHORITY SUPERANNUATION FUND
5. Port of Melbourne Authority Act 1958
Section 36 of the Port of Melbourne Authority
5 Act 1958 is repealed.
6. Superannuation (Portability) Regulations 1991
The Superannuation (Portability) Regulations
1991 (SR No. 89/1991) are revoked by virtue of
this section.
10 7. Port of Melbourne Authority (Superannuation)
Regulations 1989
The Port of Melbourne Authority
(Superannuation) Regulations 1989 (SR No.
90/1989) are revoked by virtue of this section.
15 8. Public Sector Superannuation (Administration) Act
1993
Section 67(1)(e) of the Public Sector
Superannuation (Administration) Act 1993 is
repealed.
20 9. State Superannuation Act 1988--PMASF provision
After section 99 of the State Superannuation Act
1988 insert--
'100. Transfer of assets in respect of PMASF
(1) In this section and section 101--
25 "transfer date" means 27 June 1997 or
such earlier date as is specified in the
agreement;
"transferred beneficiary" means a
beneficiary in the Port of Melbourne
30 Authority Superannuation Fund who
first became entitled to a pension on or
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 9
Act No.
before the transfer date or who becomes
entitled after the transfer date due to the
death of the first beneficiary after the
transfer date.
5 (2) On the transfer date, a transferred
beneficiary is transferred to the Fund.
(3) With the approval of the Minister, Port of
Melbourne Authority Superannuation
Scheme Pty Ltd must enter into an
10 agreement with the Board which specifies--
(a) the liability of the Port of Melbourne
Authority Superannuation Fund up to
the transfer date in respect of the
entitlements of transferred beneficiaries
15 as determined by an actuary appointed
by Port of Melbourne Authority
Superannuation Scheme Pty Ltd; and
(b) the value of assets of the Port of
Melbourne Authority Superannuation
20 Fund equal to the liability of the Port of
Melbourne Authority Superannuation
Fund under paragraph (a) that are to be
transferred to the Fund; and
(c) the terms and conditions which apply to
25 the transfer of these assets to the Fund.
(4) If agreement cannot be reached before 16
June 1997, the Minister may determine the
matters specified in sub-section (3) or which
are in dispute and Port of Melbourne
30 Authority Superannuation Scheme Pty Ltd
and the Board are deemed by virtue of this
sub-section to have entered into an
agreement containing the matters determined
by the Minister.
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 9
Act No.
(5) Port of Melbourne Authority Superannuation
Scheme Pty Ltd must transfer the assets
specified in the agreement to the Fund.
(6) As soon as the assets specified in the
5 agreement have been transferred, the assets
form part of the Fund.
(7) No stamp duty or other tax is chargeable
under any Act in respect of anything done
under this section.
10 (8) Port of Melbourne Authority Superannuation
Scheme Pty Ltd is released from any liability
in respect of the entitlements of transferred
beneficiaries as soon as the assets specified
in the agreement have been transferred.
15 101. Provisions relating to transferred
beneficiaries
(1) Despite the transfer of a beneficiary under
section 100 to the Fund--
(a) the transferred beneficiary is entitled to
20 receive the same benefits that he or she
would have been entitled to receive had
he or she not been so transferred; and
(b) the transferred beneficiary is entitled to
have his or her rights and obligations
25 determined in accordance with the
provisions of the governing instrument
of the Port of Melbourne Authority
Superannuation Fund as in force
immediately before the transfer date.
30 (2) For the purposes of sub-section (1), the
Board has in respect of the transferred
beneficiary the duties and powers conferred
on Port of Melbourne Authority
Superannuation Scheme Pty Ltd by or under
35 the provisions of the governing instrument of
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 9
Act No.
the Port of Melbourne Authority
Superannuation Fund as in force
immediately before the transfer date.
(3) For the purposes of sub-section (1), the
5 powers of the Board are not limited by
regulations 7E and 9(2) of the Port of
Melbourne Authority (Superannuation)
Regulations 1989.
(4) Without derogating from sub-sections (1)
10 and (2), sections 84 and 85 apply to and in
respect of a transferred beneficiary.'.
_______________
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 10
Act No.
PART 4--GENERAL AMENDMENTS
10. Public Sector Superannuation (Administration) Act
1993
Section 67(1)(d) of the Public Sector
5 Superannuation (Administration) Act 1993 is
repealed.
11. State Employees Retirement Benefits Act 1979
In section 2(1) of the State Employees
Retirement Benefits Act 1979, in the definition
10 of "employee" after paragraph (e) insert--
'; or
(f) a person referred to in a preceding paragraph
who as a result of a change of employment
becomes a person referred to in--
15 (i) any other paragraph of this definition;
or
(ii) any paragraph of the definition of
"officer" in section 3(1) of the State
Superannuation Act 1988; or
20 (iii) any paragraph of the definition of
"employee" in section 3(1) of the
Transport Superannuation Act
1988.'.
12. State Superannuation Act 1988
25 In section 3(1) of the State Superannuation Act
1988, in the definition of "officer" after paragraph
(f) insert--
'; and
(g) a person referred to in a preceding paragraph
30 who as a result of a change of employment
becomes a person referred to in--
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 13
Act No.
(i) any other paragraph of this definition;
or
(ii) any paragraph of the definition of
"employee" in section 2(1) of the State
5 Employees Retirement Benefits Act
1979; or
(iii) any paragraph of the definition of
"employee" in section 3(1) of the
Transport Superannuation Act
10 1988.'.
13. Superannuation (Portability) Act 1989
In section 9 of the Superannuation (Portability)
Act 1989--
(a) in sub-section (1), in paragraph (b) of the
15 definition of "transfer period" after
"approved employer" insert "or the public
authority";
(b) in sub-sections (3) and (7) after "approved
employer" insert "or the public authority".
20 14. Superannuation Acts (Amendment) Act 1996
(1) In section 62 of the Superannuation Acts
(Amendment) Act 1996--
(a) for "42" substitute "42A";
(b) in the proposed section 42A for "42A"
25 substitute "42B".
(2) The Superannuation Acts (Amendment) Act
1996 is deemed to have been enacted as amended
by sub-section (1).
15. Superannuation Acts (Further Amendment) Act 1996
30 (1) For section 2(2) of the Superannuation Acts
(Further Amendment) Act 1996 substitute--
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 16
Act No.
"(2) Sections 42(2), 42(3), 42(4), 42(5), 42(6),
42(7) and 78 are deemed to have come into
operation on 18 June 1996.
(2A) Section 42(1) is deemed to have come into
5 operation on 1 July 1996.".
(2) In section 31 of the Superannuation Acts
(Further Amendment) Act 1996 for "section
58B(1)(a)" substitute "section 58B(1)(c)".
(3) The Superannuation Acts (Further
10 Amendment) Act 1996 is deemed to have been
enacted as amended by this section.
16. Repeal of Spent Act
The Superannuation Acts (Further
Amendment) Act 1996 is repealed.
15 17. Transport Superannuation Act 1988
In section 3(1) of the Transport Superannuation
Act 1988, in the definition of "employee" after
paragraph (c) insert--
'; or
20 (d) a person referred to in a preceding paragraph
who as a result of a change of employment
becomes a person referred to in--
(i) any other paragraph of this definition;
or
25 (ii) any paragraph of the definition of
"employee" in section 2(1) of the State
Employees Retirement Benefits Act
1979; or
(iii) any paragraph of the definition of
30 "officer" in section 3(1) of the State
Superannuation Act 1988.'.
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Superannuation Acts (Miscellaneous Amendment) Act 1997
s. 18
Act No.
18. Statute Law Revision
(1) In section 20F(11) of the Emergency Services
Superannuation Act 1986 for "for former"
substitute "or former".
5 (2) In section 40HB(1) of the Hospitals
Superannuation Act 1988 for "40HBA(3)(b)(i)"
substitute "40HA(3)(b)(i)".
(3) In section 23(3) of the Parliamentary Salaries
and Superannuation Act 1968 for "or or"
10 substitute "or of".
(4) In section 3(1) of the State Superannuation Act
1988, in paragraph (d) of the definition of
"officer" after "meaning" insert "of".
(5) In section 9(2)(b)(i) of the Superannuation
15 (Public Sector) Act 1992 for "conract" substitute
"contract".
(6) In section 44C(1) of the Transport
Superannuation Act 1988, in the definition of
"post-June 1983 component" for "as is" substitute
20 "as in".
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Superannuation Acts (Miscellaneous Amendment) Act 1997
Notes
Act No.
NOTES
By Authority. Government Printer for the State of Victoria.
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531186B.I1-22/4/97
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