{"id":"superannuation-funds-management-corporation-of-south-australia-regulations-2025","name":"Superannuation Funds Management Corporation of South Australia Regulations 2025","slug":"superannuation-funds-management-corporation-of-south-australia-regulations-2025","collection":"regulation","jurisdiction":"sa","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":237528,"registerId":"sa-superannuation-funds-management-corporation-of-south-australia-regulations-2025-current","compilationNumber":null,"startDate":"2026-04-06","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation Funds Management Corporation of South Australia Regulations 2025","content":"South Australia\nSuperannuation Funds Management Corporation of South Australia Regulations 2025\nunder the Superannuation Funds Management Corporation of South Australia Act 1995\n\nContents\nPart 1—Preliminary\n1\tShort title\n2\tCommencement\n3\tInterpretation\nPart 2—Election of board members\n4\tElection of member\n5\tTimetable for election\n6\tContributors eligible to vote\n7\tNominations\n8\tElection without ballot\n9\tBallot papers\n10\tElectoral material to be provided with ballot papers\n11\tVoting\n12\tDuplication and late return of ballot papers\n13\tCounting of votes\n14\tScrutineers\n15\tDeclaration of election\nPart 3—General\n16\tRestrictions on investment of funds\n17\tPublic authorities\n18\tPrescribed public authorities\nSchedule 1—Related amendments, repeal and transitional provisions\nPart 1—Amendment of Superannuation Funds Management Corporation of South Australia Regulations 2010\n1\tAmendment of regulation 1—Short title\n2\tAmendment of regulation 3—Interpretation\n3\tRepeal of Part 2\n4\tRepeal of regulations 16 and 16A\n5\tRepeal of Schedule 1\nPart 2—Repeal of Superannuation Funds Management Corporation of South Australia (Prescribed Public Authorities) Regulations 2010\n6\tRepeal of regulations\nPart 3—Transitional provisions\n7\tAuthorisations under repealed regulations\n8\tDeclaration of prescribed public authorities\nLegislative history\n\nPart 1—Preliminary\n1—Short title\nThese regulations may be cited as the Superannuation Funds Management Corporation of South Australia Regulations 2025.\n2—Commencement\n\t(1)\tSubject to this regulation, these regulations come into operation on the day on which they are made.\n\t(2)\tRegulation 18 comes into operation on the day immediately following the day on which the time for disallowance of these regulations has passed (see section 3(6) of the Act).\n\t(3)\tSchedule 1 Part 2 comes into operation on 1 September 2025.\n3—Interpretation\nIn these regulations—\nAct means the Superannuation Funds Management Corporation of South Australia Act 1995;\ncontributor means a contributor who is, by virtue of regulation 6, eligible to vote at an election;\nhour of nomination means the hour by which nominations must be received by the Electoral Commissioner.\nPart 2—Election of board members\n4—Election of member\nThe election of a member of the board by contributors must be conducted by the Electoral Commissioner in accordance with this Part.\n5—Timetable for election\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 Part.\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 contributors or give ballot papers to employers for distribution to contributors; 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 for an election in consultation with the board.\n6—Contributors eligible to vote\n\t(1)\tPersons who were contributors as defined in the Act on the last business day before the 7 day period immediately preceding the day on which notice was published under regulation 5 are eligible to vote at the election.\n\t(2)\tEach of the superannuation boards must, within 7 days after publication of the notice, give the Electoral Commissioner a list of the contributors of whom the board knows who are eligible to vote at the election.\n7—Nominations\nA nomination for election must—\n\t(a)\tbe in a form approved by the Electoral Commissioner; and\n\t(b)\tbe signed by at least 3 contributors; and\n\t(c)\tbe received by the Electoral Commissioner at or before the hour of nomination.\n8—Election without ballot\n\t(1)\tIf only 1 person is nominated to fill the vacancy, the Electoral Commissioner must, by notice in the Gazette, and in a daily newspaper circulating throughout the State or on a website determined by the Commissioner—\n\t(a)\tdeclare that the vacancy has been filled by the person nominated; and\n\t(b)\tspecify 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 more than 1 person is nominated the following regulations apply.\n9—Ballot papers\n\t(1)\tThe Electoral Commissioner must provide each contributor (other than any contributor who is a lost member for the purposes of the Superannuation (Unclaimed Money and Lost Members) Act 1999 of the Commonwealth) 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 contributor with a ballot paper and envelope—\n\t(a)\tby posting the ballot paper and envelope to the contributor at their last known address; or\n\t(b)\tby giving the ballot paper and envelope to the contributor's employer to give to the contributor.\n10—Electoral material to be provided with ballot papers\n\t(1)\tSubject to this regulation, the Electoral Commissioner must, at the request of a candidate, include with ballot papers provided to contributors 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 the Commissioner thinks fit for the purpose of posting or distributing to contributors.\n11—Voting\n\t(1)\tA contributor who wishes to vote—\n\t(a)\tmust indicate on the ballot paper the candidate to whom the contributor gives their first preference and the contributor may indicate the order of their preference for the other candidates; and\n\t(b)\tmust place the ballot paper in the envelope provided, seal the envelope and sign it; and\n\t(c)\tmust return 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 regulation, if 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.\n12—Duplication and late return of ballot papers\n\t(1)\tIf more than 1 ballot paper is returned under the name of the same contributor 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 contributor, will be rejected.\n\t(2)\tIf more than 1 ballot paper is returned in an envelope, all of those ballot papers will be rejected.\n\t(3)\tA ballot paper returned to the Electoral Commissioner after the close of the poll will be rejected.\n13—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 than 1 candidate remains, 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 1 candidate is left;\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.\n14—Scrutineers\n\t(1)\tSubject to subregulation (2), the Electoral Commissioner may permit such scrutineers as the Commissioner thinks fit to be present at the counting of votes.\n\t(2)\tA candidate in the election cannot be a scrutineer.\n15—Declaration of election\nWhen 1 candidate is left, the Electoral Commissioner must, by notice in the Gazette, and in a daily newspaper circulating throughout the State or on a website determined by the Commissioner—\n\t(a)\tdeclare the candidate to have been elected to fill the vacancy; and\n\t(b)\tspecify the day on which the elected person's term of office commences and the length of the term for which the person has been elected.\nPart 3—General\n16—Restrictions on investment of funds\n\t(1)\tThe Corporation must not invest the public sector superannuation funds or the nominated funds of an approved authority—\n\t(a)\tin property outside Australia; or\n\t(b)\tin real property outside the State,\nunless the Minister has authorised the investment specifically or by reference to the class of investment to which it belongs.\n\t(2)\tThe Corporation must not enter into—\n\t(a)\tfutures contracts; or\n\t(b)\tforward contracts; or\n\t(c)\tinterest rate swap contracts; or\n\t(d)\tcurrency swap contracts; or\n\t(e)\tforward exchange rate contracts; or\n\t(f)\tforward interest rate contracts; or\n\t(g)\tany similar contract or dealing,\nin the course of investing the public sector superannuation funds or the nominated funds of an approved authority unless the contract or dealing has been authorised by the Minister specifically or by reference to the class of contracts or dealings to which it belongs.\n\t(3)\tIf it is possible to characterise the Corporation's entry into a contract or dealing referred to in subregulation (2) as the obtaining of financial accommodation by the Corporation, the contract or dealing will be taken to be authorised for the purposes of section 6(2) of the Act.\n\t(4)\tThe Minister may vary or revoke an authorisation under subregulation (1) or (2).\n\t(5)\tA certificate signed by the Minister certifying that a particular transaction has been authorised by the Minister under subregulation (1) or (2) will be accepted in any legal proceedings as conclusive evidence of the matter so certified.\n17—Public authorities\nIn accordance with the definition of public authority in section 3(1) of the Act, the following are brought within the ambit of that definition:\n\t(a)\tCommissioner for Consumer Affairs;\n\t(b)\tLocal Government Association of South Australia;\n\t(c)\tThe University of Adelaide.\n18—Prescribed public authorities\nFor the purposes of the definition of prescribed public authority in section 3(1) of the Act, the following are declared to be prescribed public authorities:\n\t(a)\tAdelaide Cemeteries Authority;\n\t(b)\tCommissioner for Consumer Affairs;\n\t(c)\tConstruction Industry Training Board;\n\t(d)\tHealth Services Charitable Gifts Board;\n\t(e)\tLegal Services Commission;\n\t(f)\tLifetime Support Authority;\n\t(g)\tLocal Government Association of South Australia;\n\t(h)\tMotor Accident Commission;\n\t(i)\tPublic Trustee;\n\t(j)\tSouth Australian Government Financing Authority;\n\t(k)\tThe University of Adelaide.\nSchedule 1—Related amendments, repeal and transitional provisions\nPart 1—Amendment of Superannuation Funds Management Corporation of South Australia Regulations 2010\n1—Amendment of regulation 1—Short title\nRegulation 1—delete \"Superannuation Funds Management Corporation of South Australia Regulations 2010\" and substitute:\nSuperannuation Funds Management Corporation of South Australia (Prescribed Public Authorities) Regulations 2010\n2—Amendment of regulation 3—Interpretation\nRegulation 3, definitions of contributor and hour of nomination—delete the definitions\n3—Repeal of Part 2\nPart 2—delete the Part\n4—Repeal of regulations 16 and 16A\nRegulations 16 and 16A—delete the regulations\n5—Repeal of Schedule 1\nSchedule 1—delete the Schedule\nPart 2—Repeal of Superannuation Funds Management Corporation of South Australia (Prescribed Public Authorities) Regulations 2010\n6—Repeal of regulations\nThe Superannuation Funds Management Corporation of South Australia (Prescribed Public Authorities) Regulations 2010 are repealed.\nPart 3—Transitional provisions\n7—Authorisations under repealed regulations\n\t(1)\tAn authorisation in force under regulation 16(1) of the Superannuation Funds Management Corporation of South Australia Regulations 2010 immediately before the commencement of this clause will be taken to be an authorisation under regulation 16(1) of these regulations.\n\t(2)\tAn authorisation in force under regulation 16(3) of the Superannuation Funds Management Corporation of South Australia Regulations 2010 immediately before the commencement of this clause will be taken to be an authorisation under regulation 16(2) of these regulations.\n8—Declaration of prescribed public authorities\nThe repeal of the Superannuation Funds Management Corporation of South Australia (Prescribed Public Authorities) Regulations 2010 by these regulations does not affect the declaration of any public authority under those regulations for the purposes of the definition of prescribed public authority under section 3(1) of the Act.\nLegislative history\nNotes\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\nYear\nNo\nReference\nCommencement\n2025\n16\nGazette 1.5.2025 p827 \n1.5.2025 except Sch 1 Pt 2—1.9.2025 and except r 18—5.9.2025: r 2\n","sortOrder":0}],"analysis":{"summary":{"complexity_score":1,"scope_assessment":{"changed":false,"description":"Scope cannot be assessed. The document contains no legislative text — only a 'Page Not Found' error from the SA legislation website. No comparison between original intent and final form is possible."},"complexity_factors":["No legislative content was retrievable — the source document is a website error page, not legislation","Complexity cannot be meaningfully assessed without access to the actual regulatory text","Score of 1 reflects absence of content, not simplicity of any underlying law"],"plain_english_summary":"The requested Superannuation Funds Management Corporation of South Australia Regulations 2025 could not be retrieved — the legislation site returned a \"Page Not Found\" error — so no substantive analysis is possible. This matters to public‑sector fund members, employers, and Funds SA administrators because it may affect investment, contribution and governance rules. Check legislation.sa.gov.au or contact the SA OPC for the gazetted text."},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":true,"description":"These regulations replace and repeal earlier 2010 subordinate instruments and consolidate prescribed public-authority declarations into the 2025 instrument (Schedule 1 Parts 1–2). Existing ministerial authorisations and prior declarations are preserved by transitional provisions (Schedule 1 Part 3, clauses 7–8), so the administrative form and locus of some regulatory detail change while substantive authorisations are carried forward."},"complexity_factors":["Detailed election procedure and timetable requirements including minimum and maximum days for nomination and return of ballot papers (reg 5)","Voter eligibility linked to timing and lists from superannuation boards (reg 6)","Preferential voting and transfer/exclusion rules (reg 11, reg 13) with tie-breaking by lot (reg 13(c))","Electoral Commissioner discretion over ballot form, distribution methods, scrutineers and inclusion/formatting of promotional material (regs 9, 10, 14)","Investment restrictions requiring ministerial authorisation for classes of investments and derivatives-like contracts, with ministerial power to vary or revoke (regs 16(1)–(4))","Conclusive-evidence certificate rule about ministerial authorisation in legal proceedings (reg 16(5)) increasing legal certainty but concentrating evidentiary weight in ministerial certification","Transitional and repeal provisions that replace earlier 2010 instruments and carry forward existing authorisations/declarations (Schedule 1 Parts 1–3, regs Sch 1.7–1.8)","Interplay with external legislation and concepts (reference to 'lost member' under the Commonwealth Superannuation (Unclaimed Money and Lost Members) Act 1999 at reg 9(1))","Lists of prescribed public authorities expanding the Act’s application and requiring administrative upkeep (regs 17–18)"],"plain_english_summary":"These regulations set out how contributors elect a member to the Corporation’s board (timelines, who may vote, nominations, preferential-ballot voting, campaign material and counting), limit the Corporation’s ability to invest in overseas or out-of-State property and to enter specified financial contracts unless the Minister authorises them, and list which public authorities are within scope.\n\nThey affect contributors, the Electoral Commissioner, the Corporation, approved authorities and the Minister by assigning election administration duties, compliance responsibilities and ministerial approval points for certain investments."},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"This is a consolidation and modernisation exercise. The regulations largely replicate the substance of the 2010 regulations they replace, with the main structural change being the merger of two separate 2010 instruments into one. The election procedures, investment restrictions, and lists of prescribed authorities remain substantively similar to the original scheme."},"complexity_factors":["Multiple commencement dates (regulation 2 has three different commencement triggers)","Cross-references to Commonwealth legislation (Superannuation (Unclaimed Money and Lost Members) Act 1999)","Nested conditional logic in voting and counting procedures (regulations 11-13)","Transitional provisions preserving rights under repealed regulations (Schedule 1, Part 3)","Technical financial terminology in investment restrictions (futures, swaps, forwards) without definitions","Interaction between three layers: the 1995 Act, the 2010 regulations being amended, and these 2025 regulations"],"plain_english_summary":"These regulations govern how the Superannuation Funds Management Corporation of South Australia (often called 'Funds SA') operates. Here's what they do:\n\n**Board Elections**\n- Set up a system where superannuation contributors (people paying into the fund) can elect board members\n- The Electoral Commissioner runs these elections using postal ballots\n- Contributors vote using preferential voting (numbering candidates in order of preference)\n- Candidates need 3 contributors to nominate them and can submit 200 words of promotional material\n\n**Investment Restrictions**\n- Limits where Funds SA can invest public sector superannuation money:\n  - Generally can't invest in overseas property or real estate outside South Australia without Ministerial approval\n  - Can't use complex financial instruments (futures, swaps, forward contracts) without approval\n- The Minister can authorise specific investments or classes of investments\n\n**Which Organisations Are Covered**\n- Lists specific government bodies and authorities that count as 'public authorities' or 'prescribed public authorities' under the Act, including:\n  - The University of Adelaide\n  - Local Government Association of South Australia\n  - Various boards and commissions like the Motor Accident Commission and Legal Services Commission\n\n**Housekeeping**\n- Repeals and replaces older regulations from 2010, consolidating rules about elections and prescribed authorities into one document\n- Includes transitional provisions so existing approvals remain valid"},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"issue_detection":{"absurdities":[],"contradictions":[]}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-funds-management-corporation-of-south-australia-regulations-2025","history":"/api/acts/superannuation-funds-management-corporation-of-south-australia-regulations-2025/history","analysis":"/api/acts/superannuation-funds-management-corporation-of-south-australia-regulations-2025/analysis","conflicts":"/api/acts/superannuation-funds-management-corporation-of-south-australia-regulations-2025/conflicts","importantCases":"/api/acts/superannuation-funds-management-corporation-of-south-australia-regulations-2025/important-cases","documents":"/api/acts/superannuation-funds-management-corporation-of-south-australia-regulations-2025/documents"}}