Superannuation (PSS) Membership Inclusion Amendment Declaration 2015 (No. 2)

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
Superannuation (PSS) Membership Inclusion Amendment Declaration 2015 (No. 2)1
I, MATHIAS HUBERT PAUL CORMANN, Minister for Finance, make this Declaration under paragraph 6 (1) (j) of the Superannuation Act 1990.
Dated       22-6-2015
MATHIAS HUBERT PAUL CORMANN
Minister for Finance
 
1              Name of Declaration
                This Declaration is the Superannuation (PSS) Membership Inclusion Amendment Declaration 2015 (No. 2).
2              Commencement
                This Declaration commences on the commencement of Schedule 2 to the Private Health Insurance (Prudential Supervision)(Consequential Amendments and Transitional Provisions) Act 2015.
3              Amendment of Superannuation (PSS) Membership Inclusion Declaration 2006
                Schedule 1 amends the Superannuation (PSS) Membership Inclusion Declaration 2006.
Schedule 1        Amendments
(section 4)
  
[1]           Subsection 3 (1), immediately after the definition of alternative superannuation scheme
Insert
APRA means the Australian Prudential Regulation Authority established by the Australian Prudential Regulation Authority Act 1998.
 
[2]           Subsection 3 (1), immediately after the definition of performance pay
Insert
PHIAC means the Private Health Insurance Administration Council established by the National Health Act 1953 and continued in existence under Part 6-3 of the Private Health Insurance Act 2007.
[3]            After subsection 4 (23)
insert
       (24)   Section 6 of the 1990 Act ceases to apply to a person referred to in item 31 of Schedule 1 at the end of the earlier of:
                (a)    the day on which the person ceases to be an employee of APRA;
               (b)    the day immediately before the day on which the person becomes, in relation to the person’s employment with APRA, a member of an alternative superannuation scheme; or
                (c)    if APRA ceases to be a Commonwealth entity within the meaning of the Public Governance, Performance and Accountability Act 2013 – the last day on which APRA is a Commonwealth entity.
[4]           Schedule 1, after item 30
insert
         31   A person who:
                (a)    became, or becomes, an employee of APRA as a result of item 31 of Part 3 of Schedule 2 to the Private Health Insurance (Prudential Supervision) (Consequential Amendments and Transitional Provisions) Act 2015; and
               (b)    immediately before becoming so employed, was a PSS member in respect of employment with PHIAC; and
                (c)    is not, in relation to the person’s employment with APRA, a member of an alternative superannuation scheme.                       
Notes
1.       This Declaration amends F2006L04171, as amended by F2009L01161; F2010L01736; F2011L01391; F2012L01535; F2012L02143; F2014L00727.
2.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.comlaw.gov.au.

Related Laws