Superannuation (PSS) Membership Inclusion Amendment Declaration 2012 (No. 2)1

I, PENELOPE YING YEN WONG, Minister for Finance and Deregulation, make this Declaration under paragraph 6 (1) (j) of the Superannuation Act 1990.

Dated 25th October 2012

PENELOPE YING YEN WONG

Minister for Finance and Deregulation

1 Name of Declaration

  This Declaration is the Superannuation (PSS) Membership Inclusion Amendment Declaration 2012 (No. 2).

2 Commencement

  This Declaration commences on the day after it is registered.

3 Application

  The amendments made by item 3 of Schedule 1 to this Declaration apply in relation to a person who becomes an employee of the Australian Reinsurance Pool Corporation on or after the day of commencement of this Declaration.

4 Amendment of Superannuation (PSS) Membership Inclusion Declaration 2006

  Schedule 1 amends the Superannuation (PSS) Membership Inclusion Declaration 2006.

Schedule 1 Amendments

(section 4)

[1] Subsection 3 (1), immediately after the definition of alternative superannuation scheme

Insert

ARPC means the Australian Reinsurance Pool Corporation established by the Terrorism Insurance Act 2003.

[2] After subsection 4 (21)

insert

 (22) Section 6 of the 1990 Act ceases to apply to a person referred to in item 29 of Schedule 1 at the end of the earlier of:

 (a) the day on which the person ceases to be an employee of ARPC;

 (b) the day immediately before the day on which the person becomes, in relation to the person’s employment with ARPC, a member of an alternative superannuation scheme; or

 (c) if ARPC ceases to be a Commonwealth authority within the meaning of the Commonwealth Authorities and Companies Act 1997 – the last day on which ARPC is a Commonwealth authority.

[3] Schedule 1, after item 28

insert

 29 A person who:

 (a) is an employee of ARPC; and

 (b) is a person who, immediately before last becoming so employed, was a member of the Public Sector Superannuation Scheme; and

 (c) is not, in relation to the person’s employment with ARPC, a member of an alternative superannuation scheme.                           

1. This Declaration amends F2006L04171, as amended by F2009L01161; F2010L01736; F2011L01391; and F2012L01535.

2. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.comlaw.gov.au.