Senate

Revised Explanatory Memorandum

(Circulated by the authority of the Minister for Finance and Administration Senator the Hon Nick Minchin)

Notes on clauses

Clause 1 - Short title

Clause 1 provides for the short title of the Act to be the Superannuation Legislation (Commonwealth Employment) Repeal and Amendment Act 2002.

Clause 2 - Commencement

2. Clause 2 provides for the commencement of the Act on Royal Assent or the day following Royal Assent with the following exceptions:

(a)

amendments to allow more effective administration of the Commonwealth's civilian superannuation schemes are to take effect from 1 July 2002;

(b)

amendments to the benefits available to CSS and PSS members who cease their membership because of the sale of an asset or the transfer or outsourcing of a function take effect from 27 June 1997, the date of announcement of the new arrangements;

(c)

an amendment to clarify a provision of the 1976 Act inserted into the Act on 1 July 1995 (the date on which the CSS became a regulated scheme under SIS) is taken to have commenced on that day along with various amendments intended to ensure that the CSS complies with SIS;

(d)

a consequential amendment arising from amendments to the PSS Trust Deed is taken to have commenced on 1 July 1995 being the date of effect of the amendments to that Deed;

(e)

amendments to clarify the extent of a regulation-making power is taken to have commenced on 18 December 1992 the day on which the regulation-making power came into effect; and

(f)

certain minor and technical amendments are taken to have commenced on 23 June 1995 being the day from which the amended provisions originally operated.

Clause 3 - Schedules

3. Clause 3 provides that the Acts and the PSS Trust Deed as specified in the Schedules are to be amended or repealed according to the applicable items set out in each of the Schedules.