14ASuperannuation approvals

14A Superannuation approvals

14A Superannuation approvals

(1) The Tribunal may, for the purposes of section 4 of the Parliamentary Contributory Superannuation Act 1971, determine whether any proposed amendment to that Act is warranted.

(2) In determining whether any amendment is warranted, the Tribunal—

(a) must have regard to the Heads of Government Agreement, that commenced on 1 July 1996, relating to the exemption of certain State public sector superannuation schemes from the Superannuation Industry (Supervision) Act 1993 of the Commonwealth, including whether the amendment is consistent with that agreement, and

(b) must have regard to the effects of any proposed amendment on the present and future liabilities of the Parliamentary Contributory Superannuation Fund, and

(c) may obtain, and have regard to, actuarial advice relating to the costs and effects of any proposed amendment.

(3) If the Tribunal determines that an amendment is warranted, the Tribunal must issue a certificate approving the amendment and forward it to the member of the Legislative Assembly requesting the determination. If the member proposes to proceed with or support the amendment, the member is to cause the certificate to be laid before the Legislative Assembly (unless a certificate to the same effect has already been laid before the Legislative Assembly in the same Session of Parliament).

(4) The Tribunal must cause a determination that an amendment is warranted to be published in the Gazette if notified by any member of the Legislative Assembly that the member proposes to proceed with or support the amendment.

(5) Section 14I applies to the Tribunal in the exercise of its functions under this Division in the same way as it applies to the exercise of its functions in making determinations.

(6) Without affecting the generality of section 14I, the Tribunal may, in considering whether to approve an amendment, invite submissions from the Trustees of the Parliamentary Contributory Superannuation Fund.

s 14A: Ins 1998 No 13, Sch 3 [2]. Am 2005 No 110, Sch 2 [4]; 2009 No 62, Sch 1 [8].