Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au
Australian Capital Territory
Territory Superannuation Provision
Protection Act 2000
A2000-21
Republication No 5
Effective: 14 November 2019
Republication date: 14 November 2019
Last amendment made by A2019-42
Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au
About this republication
The republished law
This is a republication of the Territory Superannuation Provision Protection Act 2000 (including
any amendment made under the Legislation Act 2001, part 11.3 (Editorial changes)) as in force
on 14 November 2019. It also includes any commencement, amendment, repeal or expiry
affecting this republished law to 14 November 2019.
The legislation history and amendment history of the republished law are set out in endnotes 3
and 4.
Kinds of republications
The Parliamentary Counsel’s Office prepares 2 kinds of republications of ACT laws (see the ACT
legislation register at www.legislation.act.gov.au):
• authorised republications to which the Legislation Act 2001 applies
• unauthorised republications.
The status of this republication appears on the bottom of each page.
Editorial changes
The Legislation Act 2001, part 11.3 authorises the Parliamentary Counsel to make editorial
amendments and other changes of a formal nature when preparing a law for republication.
Editorial changes do not change the effect of the law, but have effect as if they had been made by
an Act commencing on the republication date (see Legislation Act 2001, s 115 and s 117). The
changes are made if the Parliamentary Counsel considers they are desirable to bring the law into
line, or more closely into line, with current legislative drafting practice.
This republication includes amendments made under part 11.3 (see endnote 1).
Uncommenced provisions and amendments
If a provision of the republished law has not commenced, the symbol U appears immediately
before the provision heading. Any uncommenced amendments that affect this republished law
are accessible on the ACT legislation register (www.legislation.act.gov.au). For more
information, see the home page for this law on the register.
Modifications
If a provision of the republished law is affected by a current modification, the
symbol M appears immediately before the provision heading. The text of the modifying
provision appears in the endnotes. For the legal status of modifications, see the Legislation
Act 2001, section 95.
Penalties
At the republication date, the value of a penalty unit for an offence against this law is $160 for an
individual and $810 for a corporation (see Legislation Act 2001, s 133).
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Territory Superannuation Provision Protection Act 2000
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contents 1
Authorised by the ACT Parliamentary Counsel—also accessible at
Australian Capital Territory
Territory Superannuation Provision
Protection Act 2000
Contents
Page
1 Name of Act 2
3 Object of Act 2
4 Dictionary 2
5 Notes 2
6 Establishment of superannuation directorate 2
7 Superannuation banking accounts 3
8 Payment of superannuation appropriations 3
9 Payments from superannuation banking accounts 3
10 Closure of superannuation banking accounts 4
11 Investment of amounts in superannuation banking accounts 4
12 Returns on amounts appropriated for superannuation 5
13 Appropriation of certain amounts paid by territory authorities and
territory-owned corporations 6
14 Additional provisions for superannuation 6
Contents
Page
contents 2 Territory Superannuation Provision Protection Act 2000
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15 Investments made from superannuation provision account 7
16 Superannuation management guidelines 7
Dictionary 8
Endnotes
1 About the endnotes 10
2 Abbreviation key 10
3 Legislation history 11
4 Amendment history 12
5 Earlier republications 14
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Australian Capital Territory
Territory Superannuation Provision
Protection Act 2000
An Act to provide for the protection of funds dedicated to meeting the
superannuation liabilities of the Territory, territory authorities and
territory-owned corporations, and for other purposes
Section 1
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1 Name of Act
This Act is the Territory Superannuation Provision Protection
Act 2000.
3 Object of Act
The object of this Act is to ensure that funds dedicated to meeting the
superannuation liabilities of the Territory, territory authorities and
territory-owned corporations remain dedicated to meeting those
liabilities.
4 Dictionary
The dictionary at the end of this Act is part of this Act.
Note 1 The dictionary at the end of this Act defines certain words and
expressions used in this Act, and includes references (signpost
definitions) to other words and expressions defined elsewhere in this Act.
For example, the signpost definition ‘appropriation—see the Financial
Management Act, dictionary.’ means that the expression ‘appropriation’
is defined in that dictionary and the definition applies to this Act.
Note 2 A definition in the dictionary (including a signpost definition) applies to
the entire Act unless the definition, or another provision of the Act,
provides otherwise or the contrary intention otherwise appears (see
Legislation Act, s 155 and s 156 (1)).
5 Notes
A note included in this Act is explanatory and is not part of this Act.
Note See the Legislation Act, s 127 (1), (4) and (5) for the legal status of notes.
6 Establishment of superannuation directorate
The Treasurer must, under the Financial Management Act, dictionary,
definition of directorate, paragraph (b), establish and keep a
directorate for this Act.
Section 7
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7 Superannuation banking accounts
(1) The director-general must open and keep 1 or more banking accounts
(a superannuation banking account) solely for the management of
the superannuation assets and liabilities of the Territory, territory
authorities and territory-owned corporations.
(2) A superannuation banking account is a directorate banking account
of the superannuation directorate.
8 Payment of superannuation appropriations
An amount appropriated by a superannuation appropriation may only
be paid out of the territory banking account to be credited to a
superannuation banking account.
9 Payments from superannuation banking accounts
An amount from a superannuation appropriation may only be paid out
of a superannuation banking account—
(a) to meet the liabilities of the Territory to provide superannuation
benefits in relation to—
(i) members of the Legislative Assembly; or
(ii) members of the staff of a member of the Legislative
Assembly; or
(b) to meet the liabilities of the Territory, a territory authority or a
territory-owned corporation to provide superannuation benefits
in relation to its officers or employees; or
(c) to pay fees owing to a body that manages a superannuation
scheme of which an officer or employee of the Territory, a
territory authority or a territory-owned corporation is a member
in his or her capacity as such an officer or employee; or
Section 10
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(d) to pay actuarial fees and other administrative costs and expenses
incurred by the superannuation directorate in administering
money provided for superannuation entitlements in relation to
members of the Legislative Assembly, members of the staff of
members of the Legislative Assembly or officers or employees
of the Territory, territory authorities or territory-owned
corporations; or
(e) for transfer to another superannuation banking account; or
(f) for investment in accordance with section 11.
10 Closure of superannuation banking accounts
If a superannuation banking account is closed, any amount standing
to the credit of the account immediately before it is closed must be
paid into another superannuation banking account.
11 Investment of amounts in superannuation banking
accounts
(1) An amount in a superannuation banking account that is not
immediately needed for a purpose mentioned in section 9 (a) to (e)
may be invested—
(a) by the Treasurer, for the superannuation banking account, in an
investment mentioned in the Financial Management Act 1996,
section 38 (1) (a) to (e); or
(b) in any investment prescribed by a superannuation management
guideline.
(2) For subsection (1) (a), the investment must be consistent with any
investment prescribed by a superannuation management guideline.
(3) Transfers between the territory banking account and superannuation
banking accounts to facilitate investment may be made without
appropriation.
Section 12
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(4) Returns received by the Territory for the investment of amounts from
a superannuation banking account must be paid into a superannuation
banking account.
(5) Any fees or expenses reasonably incurred in making or managing an
investment of an amount from a superannuation banking account may
be deducted from the investment.
(6) Returns that must be paid into a superannuation banking account
under subsection (4) may be paid into the account directly or through
the territory banking account.
(7) If returns to be paid to a superannuation banking account are paid into
the territory banking account under subsection (6), the returns may be
paid to the superannuation banking account from the territory banking
account without further appropriation.
12 Returns on amounts appropriated for superannuation
(1) A superannuation appropriation, whether made before or after the
commencement of this Act, is taken to be an appropriation of—
(a) the amount stated in the appropriation; and
(b) any returns received on the investment of the amount, or any
part of it, under this Act.
(2) Returns received by the Territory on an investment under this Act of
an amount from a superannuation appropriation must be applied for
the purposes for which the amount invested was appropriated.
(3) Any fees or expenses reasonably incurred in making or managing an
investment of an amount from a superannuation appropriation may
be deducted from the investment.
Section 13
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13 Appropriation of certain amounts paid by territory
authorities and territory-owned corporations
An amount paid to the Territory by a territory authority or a territory-
owned corporation, whether before or after the commencement of this
Act, as part of an arrangement for the management of the
superannuation liabilities of the authority or corporation, and any
returns on the investment of the amount, are appropriated for the
purpose of making payments to satisfy superannuation liabilities of
the Territory.
14 Additional provisions for superannuation
(1) Despite the Financial Management Act, section 6, the Treasurer may,
if the Treasurer considers it appropriate to do so, authorise payment
of a stated amount of public money of the Territory that is not
required for non-superannuation purposes into a superannuation
banking account.
(2) An authorisation under subsection (1) is a disallowable instrument.
Note A disallowable instrument must be notified, and presented to the
Legislative Assembly, under the Legislation Act.
(3) Unless an authorisation is disallowed by the Legislative Assembly,
the authorisation commences—
(a) on the day after the last day when it could have been disallowed;
or
(b) if the authorisation provides for a later date or time of
commencement—on that date or at that time.
(4) In this section:
non-superannuation purposes means purposes other than meeting,
or providing for, present or future unfunded liabilities of the
Territory, territory authorities or territory-owned corporations for
superannuation benefits for persons mentioned in section 9 (a) or (b).
Section 15
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15 Investments made from superannuation provision
account
(1) An amount that—
(a) was appropriated for superannuation and paid into—
(i) the ACT Superannuation Provision Trust Account
established under the Audit Act 1989, section 85 (2); or
(ii) the superannuation provision account; and
(b) has been invested in investments that were current on
1 July 2000;
must, on the repayment of the amount invested, be paid into 1 or more
superannuation banking accounts.
(2) Returns on an amount invested as mentioned in subsection (1) that
are paid after 1 July 2000 must be paid into a superannuation banking
account.
(3) Returns that are to be paid into a superannuation banking account
under subsection (2) may be paid into the account directly or through
the Territory banking account.
Note 1 July 2000 was the day the Act commenced.
16 Superannuation management guidelines
(1) The Treasurer may make superannuation management guidelines for
this Act.
(2) A guideline is a disallowable instrument.
Note A disallowable instrument must be notified, and presented to the
Legislative Assembly, under the Legislation Act.
Dictionary
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Dictionary
(see s 4)
Note 1 The Legislation Act contains definitions and other provisions relevant to
this Act.
Note 2 In particular, the Legislation Act, dict, pt 1, defines the following terms:
• authorised deposit-taking institution
• Commonwealth
• director-general (see s 163)
• disallowable instrument
• Legislative Assembly
• State
• territory-owned corporation
• the Territory
• Treasurer.
appropriation—see the Financial Management Act, dictionary.
directorate—see the Financial Management Act, dictionary.
Financial Management Act means the Financial Management
Act 1996.
invest includes enter into a transaction or arrangement for the
protection or enhancement of investments.
returns, in relation to an investment—see the Financial Management
Act 1996, dictionary.
securities—see the Financial Management Act, dictionary.
superannuation appropriation means an appropriation to the
superannuation directorate declared by the Act by which it is made to
be for superannuation, and includes—
(a) an appropriation made before 1 July 2000 to—
(i) the department known as the ACT Superannuation
Provision Unit; or
Dictionary
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(ii) the department known as the ACT Superannuation and
Insurance Provision Unit; and
(b) a payment under an authorisation under section 14.
Note 1 July 2000 was the day the Act commenced.
superannuation banking account—see section 7.
superannuation directorate means the directorate established under
section 6.
superannuation management guideline means a guideline made
under section 16 (Superannuation management guidelines).
superannuation provision account means the banking account kept
by the Department of Treasury and Infrastructure immediately before
1 July 2000 that was known as the Superannuation Provision
Account.
Note 1 July 2000 was the day the Act commenced.
territory authority—see the Financial Management Act, dictionary.
territory banking account—see the Financial Management Act,
dictionary.
Endnotes
1 About the endnotes
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Endnotes
1 About the endnotes
Amending and modifying laws are annotated in the legislation history and the
amendment history. Current modifications are not included in the republished law
but are set out in the endnotes.
Not all editorial amendments made under the Legislation Act 2001, part 11.3 are
annotated in the amendment history. Full details of any amendments can be
obtained from the Parliamentary Counsel’s Office.
Uncommenced amending laws are not included in the republished law. The details
of these laws are underlined in the legislation history. Uncommenced expiries are
underlined in the legislation history and amendment history.
If all the provisions of the law have been renumbered, a table of renumbered
provisions gives details of previous and current numbering.
The endnotes also include a table of earlier republications.
2 Abbreviation key
A = Act NI = Notifiable instrument
AF = Approved form o = order
am = amended om = omitted/repealed
amdt = amendment ord = ordinance
AR = Assembly resolution orig = original
ch = chapter par = paragraph/subparagraph
CN = Commencement notice pres = present
def = definition prev = previous
DI = Disallowable instrument (prev...) = previously
dict = dictionary pt = part
disallowed = disallowed by the Legislative r = rule/subrule
Assembly reloc = relocated
div = division renum = renumbered
exp = expires/expired R[X] = Republication No
Gaz = gazette RI = reissue
hdg = heading s = section/subsection
IA = Interpretation Act 1967 sch = schedule
ins = inserted/added sdiv = subdivision
LA = Legislation Act 2001 SL = Subordinate law
LR = legislation register sub = substituted
LRA = Legislation (Republication) Act 1996 underlining = whole or part not commenced
mod = modified/modification or to be expired
Endnotes
Legislation history 3
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3 Legislation history
Territory Superannuation Provision Protection Act 2000 A2000-21
notified 15 June 2000 (Gaz 2000 No 24)
s 1, s 2 commenced 15 June 2000 (IA s 10B)
remainder commenced 1 July 2000 (s 2)
as amended by
Legislation (Consequential Amendments) Act 2001 A2001-44 pt 381
notified 26 July 2001 (Gaz 2001 No 30)
s 1, s 2 commenced 26 July 2001 (IA s 10B)
pt 381 commenced 12 September 2001 (s 2 and see Gaz 2001
No S65)
Financial Management Legislation Amendment Act 2001 A2001-45
pt 3
notified 12 July 2001 (Gaz 2001 No 28)
s 1, s 2 commenced 12 July 2001 (IA s 10B)
pt 3 commenced 12 January 2002 (s 2 and LA s 79)
Statute Law Amendment Act 2003 A2003-41 sch 3 pt 3.19
notified LR 11 September 2003
s 1, s 2 commenced 11 September 2003 (LA s 75 (1))
sch 3 pt 3.19 commenced 9 October 2003 (s 2 (1))
Administrative (One ACT Public Service Miscellaneous Amendments)
Act 2011 A2011-22 sch 1 pt 1.151
notified LR 30 June 2011
s 1, s 2 commenced 30 June 2011 (LA s 75 (1))
sch 1 pt 1.151 commenced 1 July 2011 (s 2 (1))
Statute Law Amendment Act 2019 A2019-42 sch 1 pt 1.7
notified LR 31 October 2019
s 1, s 2 commenced 31 October 2019 (LA s 75 (1))
sch 1 pt 1.7 commenced 14 November 2019 (s 2 (1))
Endnotes
4 Amendment history
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4 Amendment history
Commencement
s 2 om R1 LRA
Establishment of superannuation directorate
s 6 sub A2011-22 amdt 1.428
Superannuation banking accounts
s 7 am A2011-22 amdt 1.429, amdt 1.430
Payments from superannuation banking accounts
s 9 am A2011-22 amdt 1.435
Investment of amounts in superannuation banking accounts
s 11 am A2011-22 amdt 1.435; A2019-42 amdts 1.55-1.60;
ss renum R5 LA
Returns on amounts appropriated for superannuation
s 12 hdg sub A2019-42 amdt 1.61
s 12 am A2011-22 amdt 1.435; A2019-42 amdts 1.62-1.64
Appropriation of certain amounts paid by territory authorities and
territory-owned corporations
s 13 am A2019-42 amdt 1.65
Additional provisions for superannuation
s 14 am A2001-44 amdt 1.4017, amdt 1.4018
Investments made from superannuation provision account
s 15 am A2003-41 amdt 3.375, amdt 3.376; A2019-42 amdt 1.66,
amdt 1.67
Superannuation management guidelines
s 16 am A2001-44 amdt 1.4019, amdt 1.4020
Winding up of superannuation provision account
s 17 om R1 LRA
Amendments of Financial Management Act
s 18 om R1 LRA
Dictionary
dict am A2003-41 amdt 3.377; A2011-22 amdt 1.431, amdt 1.432
def department om A2011-22 amdt 1.433
def directorate ins A2011-22 amdt 1.433
def interest om A2019-42 amdt 1.68
def invest ins A2001-45 s 10
def prescribed om A2019-42 amdt 1.69
def returns ins A2019-42 amdt 1.70
def superannuation appropriation am A2003-41 amdt 3.378,
amdt 3.379; A2011-22 amdt 1.435
def superannuation department om A2011-22 amdt 1.434
Endnotes
Amendment history 4
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def superannuation directorate ins A2011-22 amdt 1.434
def superannuation management guideline sub A2001-44
amdt 1.4021
def superannuation provision account am A2003-41
amdt 3.380, amdt 3.381
def Treasurer om A2003-41 amdt 3.382