Senate

Revised Explanatory Memorandum

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

Terms used in the notes on clauses

"1976 Act" means the Superannuation Act 1976;

"1990 Act" means the Superannuation Act 1990;

"APS" means the Australian Public Service;

"ASIC" means the Australian Securities and Investment Commission;

"AWOTE" means average weekly ordinary time earnings;

"Commissioner" means the Commissioner for Superannuation;

"CRF" means the Consolidated Revenue Fund;

"CSS" means the Commonwealth Superannuation Scheme provided for under the 1976 Act;

"CSS member" is used to describe a person who makes personal contributions to the CSS (the 1976 Act uses the term "eligible employee" for such a person);

"Disallowable instrument" means an instrument described as a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901;

"PB Act" means the Superannuation (Productivity Benefit) Act 1988;

"PSS" means the Public Sector Superannuation Scheme provided for under the 1990 Act;

"PSS Rules" means the rules for the administration of the PSS;

"RSA" means a Retirement Savings Account;

"SG Act" means the Superannuation Guarantee (Administration) Act 1992;

"SIS" means the Superannuation Industry (Supervision) Act 1993 including the regulations under that Act;

"SIS Act" means the Superannuation Industry (Supervision) Act 1993;

"Statutory Rule" means an instrument described as a Statutory Rule for the purposes of the Statutory Rules Publication Act 1903.