Superannuation Benefits (Supervisory Mechanisms) Act 1990 - Prescribed Requirements Determination No. 1 of 1994 (Cth)

SUPERANNUATION BENEFITS (SUPERVISORY MECHANISMS) ACT 1990

DETERMINATION UNDER SECTION 6

PRESCRIBED REQUIREMENTS DETERMINATION NO. 1 OF 1994

I, KIM CHRISTIAN BEAZLEY, Minister of State for Finance, acting under section 6 of the Superannuation Benefits (Supervisory Mechanisms) Act 1990, being the section substituted by section 96(1) of the Superannuation Legislation Amendment Act 1994, determine that the prescribed requirements set out in Schedule 1 are to apply from 1 July 1994 to the provision of superannuation benefits, under superannuation arrangements by Commonwealth employers.

Dated 30th JUNE 1994.

Minister of State for Finance

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SCHEDULE 1

PRESCRIBED REQUIREMENTS FOR PROVISION OF SUPERANNUATION BENEFITS

TABLE OF PROVISIONS

PART 1 - GOVERNMENT BUSINESS ENTERPRISES

DIVISION I: SELF ASSESSMENT AND PROCEDURE DIVISION II: REPORTING PROCEDURES

PART 2 - STATUTORY MARKETING AUTHORITIES

DIVISION I: SELF ASSESSMENT AND PROCEDURE DIVISION II: REPORTING PROCEDURES

PART 3 - OTHER COMMONWEALTH SECTOR EMPLOYERS

DIVISION I: SELF ASSESSMENT AND PROCEDURE DIVISION II: REPORTING PROCEDURES

PART 4 - MISCELLANEOUS EMPLOYERS

DIVISION I: SELF ASSESSMENT AND PROCEDURE DIVISION II: REPORTING PROCEDURES

PART 5 - PERSONALISED SUPERANNUATION COVER REQUIREMENTS

PART 6 - DEFINITIONS AND INTERPRETATION

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PART 1 - GOVERNMENT BUSINESS ENTERPRISES

DIVISION I: SELF ASSESSMENT AND PROCEDURE

1. An employer may establish a superannuation arrangement to provide superannuation benefits for its employees (full time, part-time, and casual) if and only if that employer completely satisfies each of the following requirements:

(a) the employer is a person that:

(i) employs people under a relevant law as defined in the Act; or

(ii) is a relevant body as defined in the Act; or