Commonwealth legislation

Superannuation (PSS) Approved Authority Inclusion Declaration No. 2

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

189 of 1991

Collection

legislative instrument

Plain English Summary

1/10 complexity

This instrument allows employees of Commonwealth Funds Management Limited to join the Australian Government's superannuation scheme.

What it does It declares the company to be an "approved authority" under the Superannuation Act 1990. This means its employees can join the Public Sector Superannuation (PSS) scheme — a defined benefit fund (where your retirement payment is calculated based on salary and service years, not just investment returns) normally reserved for Commonwealth public servants.

Who it affects

Staff employed by Commonwealth Funds Management Limited (a government-owned investment management company at the time)
The company itself, which became responsible for administering PSS contributions and benefits for eligible employees

Why it matters Without this declaration, employees of this government business enterprise would have been excluded from the PSS scheme and forced into different superannuation arrangements. This ensures staff managing government investments receive the same retirement benefits as other public sector workers.

JSON API Tax / GST / superannuation

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Current sections

Direct links to the current provisions in Superannuation (PSS) Approved Authority Inclusion Declaration No. 2.

Superannuation (PSS) Approved Authority Inclusion Declaration No. 2

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Statutory Rules 1991 No. 1891

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Superannuation (PSS) Approved Authority Inclusion

Declaration No. 2

I, JOHN NORMAN BUTTON, Minister of State for Industry, Technology and Commerce acting for and on behalf of the Minister of State for Finance, make the following Declaration under section 3 of the Superannuation Act 1990.

Dated 21 June 1991.

JOHN N. BUTTON

Minister of State for Industry, Technology and Commerce

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Citation

This Declaration may be cited as Superannuation (PSS) Approved Authority Inclusion Declaration No. 2.

Commencement

This Declaration commences on 1 July 1991.

Approved authorities

Commonwealth Funds Management Limited is declared, under paragraph (b) of the definition of “approved authority” in section 3 of the Superannuation Act 1990, to be an approved authority for the purposes of that Act.

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NOTE

Notified in the Commonwealth of Australia Gazette on 28 June 1991.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Superannuation (PSS) Approved Authority Inclusion Declaration No. 2