State Authorities Superannuation (Safe Food) Transitional Regulation 2002 (2002-590) (NSW)

State Authorities Superannuation (Safe Food) Transitional Regulation 2002

Her Excellency the Governor, with the advice of the Executive Council, has made the following Regulation under the State Authorities Superannuation Act 1987.

JOHN DELLA BOSCA, M.L.C.,Special Minister of State

1 Name of Regulation This Regulation is the State Authorities Superannuation (Safe Food) Transitional Regulation 2002.

2 Definitions In this Regulation: contributor means a contributor to the SAS Fund who: (a) immediately before 1 July 2002, was employed by Safe Food, and (b) was transferred to employment with Meat & Livestock Australia on that date. deferred benefit means a deferred benefit provided by section 43 of the Act. election period means the period of 4 months beginning on 1 July 2002. Meat & Livestock Australia means Meat & Livestock Australia Limited (ABN 39 081 678 364). regulated superannuation fund has the meaning given to it by section 19 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth. Safe Food means Safe Food Production NSW as constituted by the Food Production (Safety) Act 1998. SAS Fund means the State Authorities Superannuation Fund established under the Act. the Act means the State Authorities Superannuation Act 1987.

3 Application of Schedule 5 to the Act (Special provisions for preserving the benefits of certain contributors) to certain contributors transferring to MLA The transfer of employment of contributors from Safe Food to Meat & Livestock Australia on 1 July 2002 is declared to be a transfer of employment to which Part 1 of Schedule 5 to the Act applies.

4 Preservation of accrued benefit without transferring it If a contributor, within the election period: (a) exercises his or her entitlement to make provision for a preserved benefit, and (b) does not exercise the entitlement conferred by clause 3 of Schedule 5 to the Act, the benefit is to be preserved in accordance with section 43 of the Act from and including the date on which the contributor becomes an employee of Meat & Livestock Australia.