Statutory Authorities (Superannuation Arrangements) Bill 1994 (Qld)

Queensland

STATUTORY AUTHORITIES (SUPERANNUATION ARRANGEMENTS) BILL 1994

Queensland

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STATUTORY AUTHORITIES (SUPERANNUATION ARRANGEMENTS) BILL 1994

TABLE OF PROVISIONS

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A BILL

FOR

An Act about superannuation for members of statutory authorities

Statutory Authorities (Superannuation Arrangements)

The Parliament of Queensland enacts—

Short title

Clause1. This Act may be cited as the Statutory Authorities (Superannuation Arrangements) Act 1994.

Commencement

Clause2. This Act is taken to have commenced on 1 July 1992.

Definitions Clause3. In this Act— "member" of a statutory authority means a person—

(a) who is paid for the performance of duties as a member of the authority's executive body (whether described as the board of directors or otherwise); and

(b) for whom the authority is liable to pay the superannuation guarantee charge if it does not meet the minimum level of superannuation support prescribed under the Superannuation

Guarantee (Administration) Act 1992 (Cwlth); "statutory authority" means a body corporate established under an Act;

"superannuation guarantee charge" means the charge imposed by the Superannuation Guarantee Charge Act 1992 (Cwlth).

Superannuation arrangements Clause4.(1) A statutory authority may—

(a) establish and amend a superannuation scheme for its members; or

(b) join in establishing and amending a superannuation scheme for its members; or 111416 19 21 23 25 Statutory Authorities (Superannuation

Arrangements) (c) take part in a superannuation scheme for its members. 1 (2) However, a statutory authority may not establish or take part in a 2 superannuation scheme that does not satisfy the superannuation fund 3 conditions under the Occupational Superannuation Standards Act 1987 4 (Cwlth). 5 (3) For the purposes of subsection (1), a statutory authority may 6 establish and keep any fund. 7 Regulation making power 8 Clause5. The Governor in Council may make regulations under this Act. 9 © State of Queensland 1994