STATUTORY RULES

1966 No.63

REGULATIONS UNDER THE SUPERANNUATION ACT 1922-1965.*

WHEREAS it is provided by sub-section (4.) of section 90 of the Superannuation Act 1922-1965 that, in making a regulation prescribing a rate of interest in respect of a financial year for the purposes of sub-section (3.) of that section, the Governor-General is not required to act on the recommendation of the Superannuation Board but he shall not make a regulation prescribing a rate of interest in respect of a financial year unless the Superannuation Board has furnished a report to the Treasurer specifying—

(a) the average rate of interest that is determined by the Superannuation Board to have been earned by the Superannuation Fund in that financial year; and

(b) the rate of interest that, in the opinion of the Superannuation Board, should, having regard to that average rate of interest and to such other matters as the Superannuation Board thinks relevant, be prescribed in respect of that financial year:

And whereas the Superannuation Board has furnished a report to the Treasurer in accordance with sub-section (4.) of section 90 of the Superannuation Act 1922-1965 in respect of each of the financial years that commenced on the first day of July, 1957, on the first day of July, 1958, on the first day of July, 1959, on the first day of July, 1960, on the first day of July, 1961, on the first day of July, 1962, on the first day of July, 1963, and on the first day of July, 1964:

Now therefore I, the Governor-General in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Superannuation Act 1922-1965.

Dated this eighteenth day of February, 1966.

Governor-General.

By His Excellency’s Command,

(SGD) WILLIAM McMAHON

Treasurer.

SUPERANNUATION (PRESCRIBED RATES OF INTEREST) REGULATIONS

Citation.

1. These Regulations may be cited as the Superannuation (Prescribed Rates of Interest) Regulations.

* Notified in the Commonwealth Gazette on 24 February,  1966.

729/66—Price 6d. (5c) 9/26.1.1966

Commencement.

2. These Regulations shall come into operation on the date to be fixed by the Treasurer by notice published in the Gazette under sub-section (1.) of section 69 of the Superannuation Act 1965.

Prescribed rates of interest.

3. For the purposes of sub-section (3.) of section 90 of the Superannuation Act 1922-1965, the rate specified in the second column of the Schedule to these Regulations opposite to a financial year specified in the first column of that Schedule is the prescribed rate of interest in respect of that financial year.

THE SCHEDULE

Regulation 3.

PRESCRIBED RATES OF INTEREST

By Authority: A. J. Arthur, Commonwealth Government Printer, Canberra