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Occupational Superannuation Standards Regulations Application Bill 1992

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House: House of Representatives Portfolio: Treasury

Purpose To provide for the operation of regulations associated with the superannuation guarantee charge (SGC) from 1 July 1992.

Background This Bill results from questions about the validity of regulations relating to the SGC following the failure of the Superannuation Guarantee (Administration) Bill 1992 to come into effect on 1 July 1992. While that Bill was the subject of considerable negotiations between the government and the Australian Democrats to ensure it operated from that date, a clerical error made in the Department of the Senate prevented its being presented for Royal Assent. This was because it was discovered that the Bill transmitted to the House of Representatives for its agreement was not in the form actually passed by the Senate. As a result, the two Houses passed different legislation and the Bill was not presented for Royal Assent. Legislation in the same form has since been passed by both Houses and the Bill received Royal Assent on 21 August 1992. The Act operates from 1 July 1992.

Regulations relating to the SGC were made under the Occupational Superannuation Standards Act 1987 before it became known that the Superannuation Guarantee legislation was defective and there is now doubt as to their validity. As a result, this Bill has been introduced to clear up any doubt as to their validity.

Main Provisions Clause 3 provides that Statutory Rules 1992 No. 223, the relevant regulations, will have effect from as if the Superannuation Guarantee legislation had become an Act before the regulations were made.

Bills Digest Service 1 September 1992 Parliamentary Research Service

This Digest does not have any official legal status. Other sources should be consulted to determine the subsequent official status of the Bill.

Commonwealth of Australia 1992

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Published by the Department of the Parliamentary Library, 1992.