{"id":"public-corporations-southern-select-super-corporation-regulations-2012","name":"Public Corporations (Southern Select Super Corporation) Regulations 2012","slug":"public-corporations-southern-select-super-corporation-regulations-2012","collection":"regulation","jurisdiction":"sa","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":236812,"registerId":"sa-public-corporations-southern-select-super-corporation-regulations-2012-current","compilationNumber":null,"startDate":"2026-04-06","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Public Corporations (Southern Select Super Corporation) Regulations 2012","content":"South Australia\nPublic Corporations (Southern Select Super Corporation) Regulations 2012\nunder the Public Corporations Act 1993\n\nContents\nPart 1—Preliminary\n1\tShort title\n3\tInterpretation\nPart 2—Application of Act to Minister\n4\tApplication of Act to Minister\nPart 3—Southern Select Super Corporation\nDivision 1—Southern Select Super Corporation established as subsidiary of Minister\n5\tEstablishment of subsidiary (section 24 of Act)\n6\tEstablishment of board\n7\tConstitution of board on establishment\n8\tConstitution of board from 1 December 2015\n9\tProcedures at meetings of board\n10\tStaff of subsidiary\n11\tConfidentiality\n12\tDisclosure\nDivision 2—Functions\n13\tFunctions of subsidiary\n14\tThe fund\n15\tCharter\n16\tOther subsidiary companies\n17\tIndirect or joint operations\nDivision 3—Financial and related matters\n18\tInternal audit\n19\tLoans, borrowings etc require approval\n20\tProvision of information\n21\tCommon seal and execution of documents\n22\tReport on operation of Southern Select Super\n23\tAnnual report\nDivision 4—Review\n24\tReview of decisions of subsidiary\nSchedule 1—Election of members of board\n1\tInterpretation\n2\tElection of members\n3\tTimetable for elections\n4\tPersons eligible to vote\n5\tNominations\n6\tElection without ballot\n7\tBallot papers\n8\tElectoral material to be provided with ballot papers\n9\tVoting\n10\tDuplication and late return of ballot papers\n11\tCounting of votes\n12\tScrutineers\n13\tDeclaration of election\nSchedule 2—Loan from South Australian Superannuation Board\n1\tLoan to establish fund\n2\tPayment of interest on loan\n3\tRepayment of principal\nLegislative history\n\nPart 1—Preliminary\n1—Short title\nThese regulations may be cited as the Public Corporations (Southern Select Super Corporation) Regulations 2012.\n3—Interpretation\nIn these regulations, unless the contrary intention appears—\nAct means the Public Corporations Act 1993;\nboard means the board of directors established as the governing body of the subsidiary under regulation 6;\ndirector means a person appointed or holding office as a member of the board under regulation 7 or 8;\nfund means the fund into which amounts received from or on behalf of members of Super SA Select are to be paid as required under regulation 13(e);\nMinister means the Minister for Finance;\nsubsidiary means Southern Select Super Corporation established under regulation 5;\nSuper SA Select means the superannuation fund of that name established under a trust deed and for which the subsidiary is trustee.\nPart 2—Application of Act to Minister\n4—Application of Act to Minister\nThe following provisions of the Act apply to the Minister:\n\t(a)\tPart 1 (Preliminary);\n\t(b)\tsection 24 (Formation of subsidiary by regulation);\n\t(c)\tsection 25 (Dissolution of subsidiary established by regulation);\n\t(d)\tSchedule (Provisions applicable to subsidiaries).\nPart 3—Southern Select Super Corporation\nDivision 1—Southern Select Super Corporation established as subsidiary of Minister\n5—Establishment of subsidiary (section 24 of Act)\n\t(1)\tSouthern Select Super Corporation is established as a subsidiary of the Minister.\n\t(2)\tThe subsidiary—\n\t(a)\tis a body corporate; and\n\t(b)\thas perpetual succession and a common seal; and\n\t(c)\tis capable of suing and being sued in its corporate name.\n6—Establishment of board\n\t(1)\tA board of directors is established as the governing body of the subsidiary.\n\t(2)\tAnything done by the board in the administration of the subsidiary's affairs is binding on the subsidiary.\n7—Constitution of board on establishment\n\t(1)\tUntil 30 November 2015, the board will consist of 5 members appointed by the Minister, 1 of whom is to be designated in his or her instrument of appointment as presiding member of the board.\n\t(2)\tWhen the office of a member appointed under subregulation (1) becomes vacant, the Minister must appoint a person to fill the vacant office.\n\t(3)\tThe Minister may appoint a deputy to a member of the board appointed under subregulation (1) and the deputy may, in the absence or during a temporary vacancy in the office of that member, act as a member of the board.\n\t(4)\tSubject to subregulation (5), a member of the board appointed under this regulation will be appointed until 30 November 2015.\n\t(5)\tA member appointed under this regulation to fill a casual vacancy will be appointed or elected for the balance of the term of his or her predecessor.\n\t(6)\tThe office of a member of the board appointed under this regulation becomes vacant if the member—\n\t(a)\tdies; or\n\t(b)\tresigns by written notice to the Minister; or\n\t(c)\tis removed from office by the Minister on the ground of—\n\t(i)\tmental or physical incapacity to carry out official duties satisfactorily; or\n\t(ii)\tneglect of duty; or\n\t(iii)\tmisconduct.\n8—Constitution of board from 1 December 2015\n\t(1)\tOn and from 1 December 2015, the board will consist of the following members:\n\t(a)\ta presiding member appointed by the Governor;\n\t(b)\t2 members appointed on election by the members of Super SA Select in accordance with Schedule 1;\n\t(c)\t2 members appointed by the Governor on the Minister's nomination.\n\t(2)\tA person who is employed in duties connected with the administration of the Superannuation Act 1988, the Southern State Superannuation Act 2009 or Super SA Select is not eligible to be elected as a member of the board.\n\t(2a)\tIf an election of a person to the board under subregulation (1)(b) fails, the Governor may appoint to the vacant position a person nominated by the Minister, and the member so appointed will be taken to have been appointed after due election under subregulation (1) in accordance with Schedule 1.\n\t(3)\tThe Governor may appoint a deputy to a member of the board appointed or elected under subregulation (1) and the deputy may, in the absence or during a temporary vacancy in the office of that member, act as a member of the board.\n\t(4)\tSubject to subregulation (5), a member of the board appointed or elected under this regulation will be appointed or elected for a term not exceeding 3 years.\n\t(5)\tA member appointed or elected under this regulation to fill a casual vacancy will be appointed or elected for the balance of the term of his or her predecessor.\n\t(6)\tThe office of a member of the board appointed or elected under this regulation becomes vacant if the member—\n\t(a)\tdies; or\n\t(b)\tcompletes a term of office and is not reappointed or re‑elected; or\n\t(c)\tresigns by written notice to the Minister; or\n\t(d)\tis removed from office by the Governor on the ground of—\n\t(i)\tmental or physical incapacity to carry out official duties satisfactorily; or\n\t(ii)\tneglect of duty; or\n\t(iii)\tmisconduct.\n\t(7)\tIf the office of an elected member becomes vacant and the balance of the term of the office is 12 months or less, the Governor may appoint to the vacant office a person nominated by the Public Service Association of South Australia Incorporated and the Australian Education Union (SA Branch).\n9—Procedures at meetings of board\n\t(1)\tA meeting of the board will be chaired by the presiding member or, in his or her absence, by a member chosen by those present.\n\t(2)\tSubject to subregulation (3), the board may act despite vacancies in its membership.\n\t(3)\tThree members constitute a quorum for a meeting of the board.\n\t(4)\tA decision in which a majority of the members present at a meeting concur is a decision of the board.\n\t(5)\tA conference by telephone or other electronic means between members of the board will, for the purposes of this regulation, be taken to be a meeting of the board at which the participating members are present if—\n\t(a)\tnotice of the conference is given to all members in the manner determined by the board for that purpose; and\n\t(b)\teach participating member is capable of communicating with every other participating member during the conference.\n\t(6)\tA proposed resolution of the board becomes a valid decision of the board despite the fact that it is not voted on at a meeting of the board if—\n\t(a)\tnotice of the proposed resolution is given to all members in accordance with procedures determined by the board; and\n\t(b)\ta majority of the members express concurrence in the proposed resolution by letter, telegram, telex, fax, email or other written communication setting out the terms of the resolution.\n\t(7)\tSubject to these regulations, the board may determine its own procedures.\n\t(8)\tThe board must keep minutes of its proceedings.\n10—Staff of subsidiary\n\t(1)\tThe subsidiary may, with the Minister's approval, appoint staff to assist it in carrying out its responsibilities.\n\t(2)\tA person appointed under subregulation (1) is not a Public Service employee.\n\t(3)\tThe subsidiary may, with the approval of a Minister responsible for a particular administrative unit of the Public Service, make use of the staff or facilities of that administrative unit.\n11—Confidentiality\n\t(1)\tA member or former member of the board, or a person employed or formerly employed in the administration of Super SA Select, must not divulge information of a personal or private nature, or information as to the entitlements or benefits of a person under Super SA Select except—\n\t(a)\tas required by or under an Act of the State or the Commonwealth; or\n\t(b)\tto, or with the consent of, the person; or\n\t(c)\tto the person's employer; or\n\t(ca)\tto a person responsible for the administration of the Triple S scheme for purposes related to the administration of Super SA Select or the Triple S scheme; or\n\t(d)\tto any other person for purposes related to the administration of Super SA Select; or\n\t(e)\tas may be required by a court or tribunal; or\n\t(f)\tif relevant, as may be allowed under the trust deed or rules of Super SA Select.\n\t(2)\tA member or former member of the board, or a person employed or formerly employed in the administration of Super SA Select, must not divulge information if to do so is inconsistent with a requirement imposed on the trustee of an eligible superannuation plan under Part VIIIB of the Family Law Act 1975 of the Commonwealth.\n\t(3)\tIf a member of the board contravenes subregulation (1) or (2), the contravention may be regarded as misconduct for the purposes of regulation 7(6) or 8(6).\n\t(4)\tThis regulation does not prevent the disclosure of statistical or other information related to a class or classes of persons (rather than to an individual).\n\t(5)\tIn this regulation—\nTriple S scheme means the scheme of superannuation continued in existence by the Southern State Superannuation Act 2009.\n12—Disclosure\n\t(1)\tIf the subsidiary discloses to the Minister or the Treasurer pursuant to the Act or these regulations a matter in respect of which the subsidiary owes a duty of confidence, the subsidiary must give notice in writing of the disclosure to the person to whom the duty is owed.\n\t(2)\tA director of the subsidiary does not commit any breach of duty by reporting a matter relating to the affairs of the subsidiary to the Minister or the Treasurer.\nDivision 2—Functions\n13—Functions of subsidiary\nThe subsidiary's functions are limited to the following:\n\t(a)\tto act as the trustee of Super SA Select;\n\t(b)\tto administer the trust deed and rules of Super SA Select;\n\t(c)\tto receive payments from, or on behalf of, members of Super SA Select;\n\t(d)\tto maintain accounts for members of Super SA Select;\n\t(e)\tto pay amounts received from or on behalf of members of Super SA Select into a fund to be maintained by the board and to make payments from the fund as required under the trust deed or rules of Super SA Select or under an Act of the State or the Commonwealth (including under Part VIIIB of the Family Law Act 1975 of the Commonwealth);\n\t(f)\tto formulate strategies for the investment and management of the fund;\n\t(g)\tto ensure that members of Super SA Select receive benefits and other payments to which they are entitled under Super SA Select;\n\t(h)\tto carry out other functions conferred on the subsidiary by the Minister;\n\t(i)\tto do anything necessary or expedient to be done for the purposes of a function referred to in a preceding paragraph.\n14—The fund\n\t(1)\tThe subsidiary is responsible for the management and investment of the fund.\n\t(2)\tThe subsidiary must prepare an investment policy statement for the purposes of the fund and must, in connection with the statement, set the risk/return objectives and asset allocation policies to be adopted with respect to the management and investment of the fund.\n\t(3)\tIn setting the risk/return objectives and asset allocation policies to be adopted with respect to the management and investment of the fund, the subsidiary must consult with the Superannuation Funds Management Corporation of South Australia.\n\t(4)\tThe Superannuation Funds Management Corporation of South Australia is to implement the subsidiary's investment policy statement and strategies as agent for the subsidiary.\n15—Charter\n\t(1)\tThe Minister and the Treasurer must prepare a charter for the subsidiary after consultation with the subsidiary.\n\t(2)\tThe charter must address—\n\t(a)\tthe nature and scope of the subsidiary's operations; and\n\t(b)\tthe subsidiary's obligations to report on its operations; and\n\t(c)\tthe form and contents of the subsidiary's accounts and financial statements; and\n\t(d)\tany accounting, internal auditing or financial systems or practices to be established or observed by the subsidiary; and\n\t(e)\tthe acquisition or disposal of capital or assets or the borrowing or lending of money.\n\t(3)\tThe charter may—\n\t(a)\tlimit or otherwise regulate the functions or powers of the subsidiary; and\n\t(b)\tdeal with any other matter not specifically referred to in subregulation (2).\n\t(4)\tThe Minister must, after consultation with the subsidiary, review the charter at the end of each financial year.\n\t(5)\tThe Minister and the Treasurer may, after consultation with the subsidiary, amend the charter at any time.\n\t(6)\tThe charter, or an amendment to the charter, comes into force and is binding on the subsidiary on a day specified in the charter or amendment (but without affecting any contractual obligations previously incurred by the subsidiary).\n\t(7)\tOn the charter or an amendment to the charter coming into force, the Minister must, within 12 sitting days, have copies of the charter, or the charter in its amended form, laid before both Houses of Parliament.\n16—Other subsidiary companies\n\t(1)\tThe subsidiary must not, without the approval of the Treasurer—\n\t(a)\tform a subsidiary company; or\n\t(b)\tacquire, or enter into any arrangement under which it will at a future time or would on the happening of some contingency hold, relevant interests in shares in a company such that the company becomes a subsidiary of the subsidiary.\n\t(2)\tThe Treasurer may, as a condition of approval under this regulation, or by direction, require the subsidiary to take steps to include in a subsidiary company's constitution such provisions as the Treasurer considers appropriate—\n\t(a)\timposing limitations on the nature or scope of the company's operations; or\n\t(b)\timposing other controls or practices,\nconsistent with those applicable to the subsidiary.\n17—Indirect or joint operations\nThe subsidiary must not, without the approval of the Treasurer, establish a trust scheme or a partnership or other scheme or arrangement for sharing of profits or joint venture with another person or undertake any operations or transactions pursuant to such a scheme or arrangement.\nDivision 3—Financial and related matters\n18—Internal audit\n\t(1)\tThe subsidiary must, unless exempted by the Treasurer, maintain effective internal auditing of its operations.\n\t(2)\tThe subsidiary must, unless exempted by the Treasurer, have an audit committee.\n\t(3)\tThe audit committee will comprise—\n\t(a)\ta member of the board of the subsidiary, or such members of the board, as the board may from time to time determine; and\n\t(b)\tsuch other person or persons as the board may from time to time appoint,\nbut may not include the chief executive (if any) of the subsidiary.\n\t(4)\tThe functions of the audit committee include—\n\t(a)\treviewing annual financial statements to ensure that they provide a true and fair view of the state of affairs of the subsidiary; and\n\t(b)\tliaising with external auditors; and\n\t(c)\treviewing the adequacy of the accounting, internal auditing, reporting and other financial management systems and practices of the subsidiary on a regular basis.\n19—Loans, borrowings etc require approval\n\t(1)\tThe subsidiary must not lend or advance to a person any money, securities or property without the approval of the Treasurer.\n\t(2)\tThe subsidiary must not undertake commercial borrowings without the prior written approval of the Treasurer.\n20—Provision of information\n\t(1)\tThe subsidiary must, at the request in writing of the Minister or the Treasurer, furnish such information or records in the possession or control of the subsidiary as the Minister or the Treasurer may require in such manner and form as the Minister or the Treasurer may require.\n\t(2)\tIf a record in the possession or control of the subsidiary is furnished to the Minister or the Treasurer under this regulation, the person to whom it is furnished may make, retain and deal with copies of the record as he or she thinks fit.\n\t(3)\tIf the board considers that information or a record furnished under this regulation contains matters that should be treated as confidential, the board may advise the person to whom it is furnished of that opinion giving the reason for the opinion and the Minister or the Treasurer may, subject to subregulation (4), act on that advice as the Minister or the Treasurer thinks fit.\n\t(4)\tIf the Minister or the Treasurer is satisfied on the basis of the board's advice under subregulation (3) that the subsidiary owes a duty of confidence in respect of a matter, the Minister or the Treasurer must ensure the observance of that duty in respect of the matter, but this subregulation does not prevent a disclosure as required in the proper performance of ministerial functions or duties.\n\t(5)\tThe subsidiary must—\n\t(a)\tnotify the Minister if a request is made by the Treasurer under this regulation; and\n\t(b)\tnotify the Treasurer if a request is made by the Minister under this regulation.\n21—Common seal and execution of documents\n\t(1)\tThe common seal of the subsidiary must not be affixed to a document except in accordance with a decision of the board, and the affixing of the seal must be attested by the signatures of 2 directors.\n\t(2)\tThe board may, by instrument under the common seal of the subsidiary, authorise a director, an employee of the subsidiary (whether nominated by name or by office or title) or any other person to execute documents on behalf of the subsidiary subject to limitations (if any) specified in the instrument of authority.\n\t(3)\tWithout limiting subregulation (2), an authority may be given so as to authorise 2 or more persons to execute documents jointly on behalf of the subsidiary.\n\t(4)\tA document is duly executed by the subsidiary if—\n\t(a)\tthe common seal of the subsidiary is affixed to the document in accordance with this regulation; or\n\t(b)\tthe document is signed on behalf of the subsidiary by a person or persons in accordance with authority conferred under this regulation.\n22—Report on operation of Southern Select Super\n\t(1)\tThe subsidiary must, within 4 months after the end of each financial year, deliver a report to the Minister on the operation of Southern Select Super during that financial year.\n\t(2)\tThe report must include a copy of any financial statements prepared by the board in relation to receipts of members' contributions and employer contributions, and relating to payments to, on behalf of, or in relation to, members.\n\t(3)\tThe Minister must cause a copy of the report to be laid before both Houses of Parliament within 12 sitting days after receipt of the report.\n23—Annual report\n\t(1)\tThe subsidiary must, within 3 months after the end of each financial year, deliver to the Minister a report on the financial operations of the subsidiary during that financial year.\n\t(2)\tThe Minister must cause a copy of the report to be laid before both Houses of Parliament within 12 sitting days after receipt of the report.\nDivision 4—Review\n24—Review of decisions of subsidiary\n\t(1)\tA person who is dissatisfied with a decision of the subsidiary under these regulations may apply to the South Australian Civil and Administrative Tribunal under section 34 of the South Australian Civil and Administrative Tribunal Act 2013 for review of the decision.\n\t(2)\tAn application for review must be made within 21 days of the date of the relevant decision.\nSchedule 1—Election of members of board\n1—Interpretation\nIn this Schedule—\nhour of nomination means the hour by which nominations must be received by the Electoral Commissioner;\nvoter means a person who is, by virtue of clause 4, eligible to vote at an election.\n2—Election of members\nThe election of members of the board must be conducted by the Electoral Commissioner in accordance with this Schedule.\n3—Timetable for elections\n\t(1)\tThe Electoral Commissioner must publish in a daily newspaper circulating throughout the State a notice setting out the timetable for each election held under this Schedule.\n\t(2)\tThe notice must—\n\t(a)\tfix the date (not being less than 14 days from publication of the notice) and the hour by which nominations must be received by the Electoral Commissioner; and\n\t(b)\tfix the date on or before which the Commissioner will post ballot papers to voters or give ballot papers to employers for distribution to voters; and\n\t(c)\tfix the date (not being less than 21 days nor more than 28 days after the date fixed under paragraph (b)) and the hour by which completed ballot papers must be returned to the Electoral Commissioner.\n\t(3)\tThe Electoral Commissioner must determine the timetable in consultation with the board.\n4—Persons eligible to vote\n\t(1)\tA person who was a member of Super SA Select on the last business day before the 7 day period immediately preceding the day on which notice was published under clause 3 is eligible to vote at the election unless his or her whereabouts are unknown to the subsidiary.\n\t(2)\tThe board must within 7 days after the notice was published give the Electoral Commissioner a list of the voters who are eligible to vote at the election.\n\t(3)\tIn this clause—\nbusiness day means any day other than a Saturday, Sunday or other public holiday.\n5—Nominations\nA nomination for election must be—\n\t(a)\tin a form approved by the Electoral Commissioner; and\n\t(b)\tsigned by at least 3 voters; and\n\t(c)\treceived by the Electoral Commissioner at or before the hour of nomination.\n6—Election without ballot\n\t(1)\tIf the number of persons nominated is the same as or less than the number of vacancies to be filled by election, the Electoral Commissioner must, by notice in a daily newspaper circulating throughout the State and in the Gazette—\n\t(a)\tdeclare that the vacancy or vacancies has or have been filled by the person or persons nominated; and\n\t(b)\tin relation to each elected person—specify the day on which the person's term of office commences and the length of the term for which the person has been elected.\n\t(2)\tIf the number of persons nominated is greater than the number of vacancies to be filled the following clauses apply.\n7—Ballot papers\n\t(1)\tThe Electoral Commissioner must provide each voter with a ballot paper and an envelope addressed to the Commissioner for the purpose of returning the ballot paper after completion.\n\t(2)\tThe names of the candidates must appear on the ballot papers in a vertical list in an order determined by the Electoral Commissioner by lot.\n\t(3)\tIf ballot papers are not printed on watermarked paper they must be initialled by the Electoral Commissioner or by a person authorised for that purpose by the Commissioner.\n\t(4)\tThe Electoral Commissioner may provide a voter with a ballot paper and envelope—\n\t(a)\tby posting the ballot paper and envelope to the voter at his or her last known address; or\n\t(b)\tby giving the ballot paper and envelope to the voter's employer to give to the voter.\n8—Electoral material to be provided with ballot papers\n\t(1)\tSubject to this clause, the Electoral Commissioner must, at the request of a candidate, include with ballot papers provided to voters material provided by the candidate promoting the candidate's election.\n\t(2)\tPromotional material must be provided to the Commissioner at or before the hour of nomination.\n\t(3)\tThe material must not include more than 200 words nor more than 1 photograph and may be printed by the Commissioner in such form as he or she thinks fit for the purpose of posting or distributing to voters.\n9—Voting\n\t(1)\tA voter who wishes to vote must—\n\t(a)\tindicate on the ballot paper the candidate to whom the voter gives his or her first preference and the voter may indicate the order of his or her preference for the other candidates; and\n\t(b)\tplace the ballot paper in the envelope provided, seal the envelope and sign it; and\n\t(c)\treturn the envelope to the Electoral Commissioner.\n\t(2)\tA voter's preference for candidates must be indicated by consecutive numbers (commencing with the number \"1\") placed in the squares opposite the names of the candidates on the ballot paper.\n\t(3)\tFor the purposes of this clause, where a voter places a tick or a cross on a ballot paper, the tick or cross will be taken to be equivalent to the number 1.\n10—Duplication and late return of ballot papers\n\t(1)\tIf more than 1 ballot paper is returned under the name of the same voter all, except the first to be returned, will be rejected or, if the Electoral Commissioner does not know which was returned first, all, except the first to be recorded against the name of the voter, will be rejected.\n\t(2)\tIf more than 1 ballot paper is returned in an envelope none of the ballot papers returned in that envelope will be counted.\n\t(3)\tA ballot paper returned to the Electoral Commissioner after the close of the poll will not be counted.\n11—Counting of votes\nThe following provisions apply to the counting of votes:\n\t(a)\tafter counting first preferences the candidate with the fewest first preferences must be excluded and if more candidates remain than the number of vacancies to be filled each ballot paper counted to the excluded candidate must be counted to the candidate (if any) next in order of the voter's preference;\n\t(b)\tthis process must be continued until the number of candidates remaining is equal to the number of vacancies to be filled;\n\t(c)\tif 2 candidates have an equal number of votes and 1 of them must be excluded the Electoral Commissioner must determine the question by lot.\n12—Scrutineers\n\t(1)\tSubject to subclause (2), the Electoral Commissioner may permit such scrutineers as he or she thinks fit to be present at the counting of votes.\n\t(2)\tA candidate in the election cannot be a scrutineer.\n13—Declaration of election\nWhen the number of candidates remaining is equal to the number of vacancies to be filled, the Electoral Commissioner must, by notice in a daily newspaper circulating throughout the State and in the Gazette—\n\t(a)\tdeclare that the candidate or candidates has or have been elected to fill the vacancy or vacancies; and\n\t(b)\tin relation to each elected person—specify the day on which the person's term of office commences and the length of the term for which the person has been elected.\nSchedule 2—Loan from South Australian Superannuation Board\n1—Loan to establish fund\nIf a loan is or has been made by the South Australian Superannuation Board to the Minister for the purpose of establishing, or assisting in the establishment of, the fund, the subsidiary must ensure compliance with the terms of repayment of the loan as set out in this Schedule.\n2—Payment of interest on loan\n\t(1)\tSubject to subclause (4), interest is payable on the loan annually at the end of each financial year.\n\t(2)\tThe interest will be calculated on a quarterly basis by reference to the outstanding balance of the loan at the end of the quarter at a rate equivalent to the average daily deposit rate for that quarter.\n\t(3)\tIf the fund has a net surplus at the end of a financial year, the interest payable in respect of that year must be paid on or before 31 July of the following financial year.\n\t(4)\tIf the fund does not have a net surplus at the end of a financial year, the interest payable in respect of that year will be capitalised into the principal amount owing.\n\t(5)\tIn this clause—\naverage daily deposit rate means the average daily deposit rate issued by the Treasury on a quarterly basis.\n3—Repayment of principal\n\t(1)\tFor each financial year, an amount of the principal of the loan equal to 20% or more of the net surplus of the fund for that year must be repaid.\n\t(2)\tHowever, if the amount of the fund attributable to member administration fees at the end of the financial year does not exceed the cost of the administration of the fund (other than investment management charges), there is no requirement for a payment to be made in respect of that year.\nLegislative history\nNotes\n\t•\tPlease note—References in the legislation to other legislation or instruments or to titles of bodies or offices are not automatically updated as part of the program for the revision and publication of legislation and therefore may be obsolete.\n\t•\tEarlier versions of these regulations (historical versions) are listed at the end of the legislative history.\n\t•\tFor further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or www.legislation.sa.gov.au.\nPrincipal regulations and variations\nNew entries appear in bold.\nYear\nNo\nReference\nCommencement\n2012\n240\nGazette 29.11.2012 p5247\n1.12.2012: r 2\n2013\n295\nGazette 19.12.2013 p5014\n19.12.2013: r 2\n2016\n52\nGazette 16.6.2016 p2119\n16.6.2016: r 2\n2018\n178\nGazette 28.6.2018 p2646\n5.7.2018: r 2\nProvisions varied\nNew entries appear in bold.\nEntries that relate to provisions that have been deleted appear in italics.\nProvision\nHow varied\nCommencement\nPt 1\n\n\nr 2\nomitted under Legislation Revision and Publication Act 2002\n19.12.2013\nPt 3\n\n\nPt 3 Div 1\n\n\nr 8\n\n\nr 8(2)\nvaried by 52/2016 r 4(1), (2)\n16.6.2016\nr 8(2a)\ninserted by 52/2016 r 4(3)\n16.6.2016\nr 11\n\n\nr 11(1)\nvaried by 295/2013 r 4(1)\n19.12.2013\n\nvaried by 178/2018 r 4\n5.7.2018\nr 11(5)\ninserted by 295/2013 r 4(2)\n19.12.2013\nPt 3 Div 4\ninserted by 295/2013 r 5\n19.12.2013\nr 24\nsubstituted by 178/2018 r 5\n5.7.2018\nSch 1\n\n\ncl 9\n\n\ncl 9(3)\ninserted by 52/2016 r 5\n16.6.2016\nTransitional etc provisions associated with regulations or variations\nPublic Corporations (Southern Select Super Corporation) (SACAT) Variation Regulations 2018 (No 178 of 2018), Sch 1\n1—Transitional and other provisions\n\t(1)\tA right of appeal to the Administrative and Disciplinary Division of the District Court under regulation 24 of the principal regulations in existence before the relevant day (but not exercised before that day) will be exercised as if regulation 24, as substituted by regulation 5 of these regulations, had been in operation before that right arose, so that the relevant proceedings may be commenced before the Tribunal rather than the Administrative and Disciplinary Division of the District Court.\n\t(2)\tNothing in this clause affects any proceedings before the Administrative and Disciplinary Division of the District Court commenced under the principal regulations before the relevant day.\n\t(3)\tIn this clause—\nprincipal regulations means the Public Corporations (Southern Select Super Corporation) Regulations 2012;\nrelevant day means the day on which these regulations come into operation;\nTribunal means the South Australian Civil and Administrative Tribunal established under the South Australian Civil and Administrative Tribunal Act 2013.\nHistorical versions\n19.12.2013\n\n16.6.2016\n\n","sortOrder":0}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":5,"scope_assessment":{"changed":false,"description":"The regulations appear to maintain their original scope of establishing and governing the Southern Select Super Corporation as a subsidiary public corporation to act as trustee for Super SA Select. While there have been amendments (particularly regarding the transition from appointed to partially elected boards, and the shift from District Court appeals to SACAT), these represent operational refinements rather than scope creep. The core purpose — creating a statutory corporation to manage a specific superannuation fund with member representation — remains intact."},"complexity_factors":["Multiple governance transitions: The board composition changes completely after a specific date (1 December 2015), creating parallel appointment mechanisms in regulations 7 and 8","Detailed electoral procedures: Schedule 1 contains 13 clauses specifying nomination requirements, preferential voting systems, ballot handling, and counting methodologies","Cross-referencing to multiple Acts: References to Public Corporations Act 1993, Family Law Act 1975 (Cth), South Australian Civil and Administrative Tribunal Act 2013, Superannuation Act 1988, and Southern State Superannuation Act 2009","Conditional financial logic: Schedule 2 contains nested conditions for loan repayment — interest capitalises if no net surplus, principal repayment only required if administration fees exceed costs","Dual reporting requirements: Separate annual reports required under regulations 22 (operation of fund) and 23 (financial operations) with different timelines (4 months vs 3 months)","Defined terms scattered across document: 8 defined terms in regulation 3, plus additional definitions in regulations 11(5) and Schedule 1, clause 1"],"plain_english_summary":"**What this legislation does:**\n\nThese regulations create and govern **Southern Select Super Corporation**, a government-owned company that acts as the trustee for **Super SA Select** — a superannuation fund for South Australian public sector workers.\n\n**Key things it sets up:**\n\n*   **A new corporate body:** Establishes the corporation as a legal entity (a \"subsidiary\" of the Minister for Finance) that can own property, sign contracts, and be sued.\n*   **A board of directors:** Initially, the Minister appointed all 5 board members. From 1 December 2015 onwards, the board changed to include:\n    *   1 chair appointed by the Governor\n    *   2 members elected by fund members themselves\n    *   2 members appointed by the Governor on the Minister's recommendation\n*   **Election rules:** Schedule 1 lays out detailed procedures for how fund members can vote for their board representatives — including nominations, ballot papers, preferential voting (numbering candidates in order of preference), and how votes are counted.\n*   **What the corporation does:** Its sole job is to run Super SA Select — collecting member contributions, maintaining accounts, investing the fund's money (through the Superannuation Funds Management Corporation), and paying out benefits.\n*   **Financial controls:** The corporation must follow a government-approved \"charter,\" get Treasurer approval for loans or borrowings, maintain internal audit committees, and report annually to Parliament.\n*   **Confidentiality:** Strict rules prevent board members and staff from leaking personal information about fund members.\n*   **Review rights:** People unhappy with decisions can appeal to the South Australian Civil and Administrative Tribunal (SACAT) within 21 days.\n*   **Startup loan:** Schedule 2 deals with repaying a loan from the South Australian Superannuation Board used to set up the fund, including rules about interest and repaying principal from fund surpluses.\n\n**Who it affects:**\n\n*   Members of Super SA Select (South Australian public servants and related employees)\n*   The board members and staff running the fund\n*   The Minister for Finance and Treasurer (who oversee the corporation)\n\n**Why it matters:**\n\nThis legislation puts members in control of part of their superannuation governance by giving them the power to elect board representatives. It also creates a clear legal framework for how a government super fund operates — balancing member representation with ministerial oversight and financial accountability."},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":true,"description":"The instrument's scope has been varied since enactment. Notable changes include amendments to board eligibility and nomination rules (reg 8(2) varied and reg 8(2a) inserted by 52/2016), additions and modifications to confidentiality provisions (reg 11 varied by 295/2013 and 178/2018; reg 11(5) inserted by 295/2013), insertion of a review/division providing a Tribunal review pathway (Div 4 inserted by 295/2013; reg 24 substituted by 178/2018), and an electoral drafting change (Schedule 1 cl 9(3) inserted by 52/2016). These variations altered appointment, disclosure, review and election procedures and therefore changed the instrument's operational scope."},"complexity_factors":["Transition in board constitution and eligibility rules, with different regimes before and after 1 Dec 2015 (regs 7–8)","Detailed election mechanics, timetables and voting rules administered by the Electoral Commissioner (Schedule 1 cl 2–13)","Multiple executive controls and directions: Minister, Treasurer and Governor involvement in appointments, charter, approvals and information requests (regs 4, 8, 15, 16, 19, 20)","Confidentiality and disclosure constraints with specific exceptions and ministerial reporting obligations (regs 11–12)","Financial governance requirements including investment policy, agent implementation by the Superannuation Funds Management Corporation, internal audit and audit committee obligations (regs 14, 18)","Restrictions on forming subsidiaries, entering joint ventures, lending and commercial borrowing subject to Treasurer approval (regs 16–17, 19)","Reporting and parliamentary laying obligations with strict timeframes for operational and financial reports (regs 22–23)","Loan terms and repayment mechanics tied to fund surpluses and interest calculation rules (Schedule 2 cl 1–3)","Statutory review pathway and short appeal timeframe to the South Australian Civil and Administrative Tribunal (reg 24)","Cross‑instrument interactions and amendments recorded in legislative history create interpretive and transitional complexity"],"plain_english_summary":"Mechanically, these regulations create Southern Select Super Corporation as a corporate subsidiary of the Minister and make it the trustee of the Super SA Select fund. They set board composition (ministerial appointments until 30 Nov 2015; a mix of elected and Governor‑appointed members from 1 Dec 2015), define trustee duties (investment policy, fund management, member accounts), and impose reporting, audit, confidentiality, approval and election procedures.\n\nThe rules shift decision rights among the board, Minister, Governor and Treasurer; require elections, audits, charters and Treasurer approvals; and impose compliance, disclosure and reporting costs on the subsidiary and effects on members, employers and election‑eligible employees."},"summary":{"complexity_score":1,"scope_assessment":{"changed":false,"description":"Scope cannot be assessed as the legislative text was not retrievable. No comparison between original intent and final form is possible from the information provided."},"complexity_factors":["No legislative content was retrievable — the source URL returned a 404 error","Analysis is limited entirely to inference from the legislation's title","Cannot assess regulatory structure, definitions, obligations, or penalties without the actual text","Complexity score is set to minimum (1) due to complete absence of analysable content, not because the underlying law is necessarily simple"],"plain_english_summary":"These regulations appear to set out the legal framework for the Southern Select Super Corporation — a South Australian government superannuation entity — under the Public Corporations Act 1993. They would shape how the corporation is governed and operate, affecting its members, employees, board and eligible public sector workers. The full text couldn’t be retrieved (404); consult legislation.sa.gov.au or OPCWeb@sa.gov.au."}},"importantCases":[],"_links":{"self":"/api/acts/public-corporations-southern-select-super-corporation-regulations-2012","history":"/api/acts/public-corporations-southern-select-super-corporation-regulations-2012/history","analysis":"/api/acts/public-corporations-southern-select-super-corporation-regulations-2012/analysis","conflicts":"/api/acts/public-corporations-southern-select-super-corporation-regulations-2012/conflicts","importantCases":"/api/acts/public-corporations-southern-select-super-corporation-regulations-2012/important-cases","documents":"/api/acts/public-corporations-southern-select-super-corporation-regulations-2012/documents"}}