{"id":"F2008B00168","name":"Superannuation (Productivity Benefit) 1993-1994 Second Interest Factor Declaration","slug":"superannuation-productivity-benefit-1993-1994-second-interest-factor-declaration","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"185 of 1993","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72743,"registerId":"commonwealth-F2008B00168-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) 1993-1994 Second Interest Factor Declaration","content":"![](image.001.png)\n\nStatutory Rules 1993 No. 1851\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nSuperannuation (Productivity Benefit) 1993-1994 Second Interest Factor Declaration\n\nI, ralph willis, Minister for Finance, make the following Declaration under paragraph 3e (1) (b) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated 25 June 1993.\n\nralph willis\n\nMinister for Finance\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nCitation\n\n1. This Declaration may be cited as Superannuation (Productivity Benefit) 1993-1994 Second Interest Factor Declaration.\n\n> Note: \\[NOTE: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46a and 48.\\]\n\n  \nInterpretation\n\n2. In this Declaration:\n\n“Act” means the Superannuation (Productivity Benefit) Act 1988;\n\n“Days” means:\n\n(a) in the case of an employee who becomes a fund employee—the number of days in the period:\n\n(i) commencing on the day following the last day of the last pay period of the employee ending before 1 July 1993; and\n\n(ii) ending at the end of the day on which an amount first becomes payable under section 4f of the Act; or\n\n(b) in the case of an employee who becomes entitled to receive an interim benefit under section 6 of the Act—the number of days between:\n\n(i) the day following the last day of the last pay period of the employee ending before 1 July 1993; and\n\n(ii) the day on which the employee became entitled to receive the benefit; or\n\n(c) in the case of an employee who neither becomes a fund employee nor becomes entitled to receive an interim benefit—the number of days between:\n\n(i) the day following the last day of the last pay period of the employee ending before 1 July 1993; and\n\n(ii) 30 June 1994.\n\nDeclared second interest factor\n\n3. For the purposes of section 8a of the Act, the declared second interest factor for the financial year commencing on 1 July 1993 is:\n\n.\n\n  \nNOTE\n\n> Note: 1. Notified in the Commonwealth of Australia Gazette on 30 June 1993.","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This declaration performs exactly its intended function: setting a specific numerical factor for a single financial year as authorised by section 8A of the parent Act. There is no scope creep."},"complexity_factors":["Very short instrument (only 3 operative sections plus citation and interpretation)","Only 2 defined terms ('Act' and 'Days')","Single substantive provision (section 3) containing just a number (0.0000)","No cross-references to other legislation beyond the enabling Act","Simple conditional logic in the 'Days' definition (three mutually exclusive scenarios)","No exceptions or nested conditions"],"plain_english_summary":"The Minister for Finance declared the \"second interest factor\" for 1993–94 to be 0.0000. That factor is used to calculate interest on productivity superannuation benefits under the Superannuation (Productivity Benefit) Act 1988.\n\nAs a result, eligible Commonwealth employees covered by the scheme (including those who transferred to funds, received interim payments, or neither) received no interest on those productivity benefits for that financial year."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The Declaration does not alter who is covered by the underlying Act; it supplies a parameter (the second interest factor) for computing amounts and clarifies the method for counting days for pro rata calculations (cl.2–3). However, the instrument as published omits the numeric factor value (cl.3), which creates ambiguity for administrators applying the Act’s formulas."},"complexity_factors":["Cross-reference to the Superannuation (Productivity Benefit) Act 1988 and specifically section 8a (cl.3) — requires users to consult the Act to see the effect.","Three alternative definitions of “Days” for different employee circumstances (cl.2(a)–(c)) create conditional calculations for administrators.","Administrative task of computing pro rata periods between varying start/end dates (cl.2) — modest operational burden for payroll/fund administrators.","Commencement tied to gazettal (note under cl.1 and Acts Interpretation Act references) — timing reliance on publication rather than a fixed date.","The published text lacks the numeric value for the declared second interest factor (cl.3) — creates implementation ambiguity for those required to apply it."],"plain_english_summary":"This Declaration sets the “second interest factor” used to calculate productivity-benefit payments under the Superannuation (Productivity Benefit) Act 1988 for the 1993–94 year (cl.3). It defines how to count days for three employee categories so administrators can prorate amounts (cl.2). The Minister for Finance issues the declaration (preamble); payroll administrators or fund managers must apply the declared factor when computing payments under the Act (cl.3)."},"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"}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-1993-1994-second-interest-factor-declaration","history":"/api/acts/superannuation-productivity-benefit-1993-1994-second-interest-factor-declaration/history","analysis":"/api/acts/superannuation-productivity-benefit-1993-1994-second-interest-factor-declaration/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-1993-1994-second-interest-factor-declaration/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-1993-1994-second-interest-factor-declaration/important-cases","documents":"/api/acts/superannuation-productivity-benefit-1993-1994-second-interest-factor-declaration/documents"}}