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Superannuation Legislation (Commonwealth Employment) Repeal and Amendment (Consequential Amendments) Bill 1998
Schedule 5 Amendment of the Military Superannuation and Benefits Act 1991

   

1  Subsection 3(1) (definition of Commissioner )

Repeal the definition.

2  At the end of Part 6

Add:

26A   Administration of Scheme on behalf of Board

             (1)  During the period of 3 years beginning on 1 July 1999, the Scheme is to be administered, on behalf of the Board, by one or more nominated bodies or, if there is no nominated body, by the Commonwealth.

             (2)  If there are 2 or more nominated bodies, the authorised person may determine the aspects or parts of the administration of the Scheme that are to be respectively administered by each of those bodies.

             (3)  A reference in this section to the administering of, or of an aspect or part of, the Scheme does not include a reference to:

                     (a)  the investment of money contributed under the scheme; or

                     (b)  the management of any such investment; or

                     (c)  the provision to the Board of such other services as are agreed between the Board and the authorised person.

             (4)  The Minister may, by writing, authorise a person to perform the functions of the authorised person under this section.

             (5)  The authorised person may, by writing, make determinations and nominations for the purposes of this section.

             (6)  In this section:

authorised person means the Minister or a person authorised by the Minister to perform the functions of the authorised person under this section.

nominated body means an incorporated company or other body corporate that:

                     (a)  has entered into an agreement or arrangement with the Commonwealth that:

                              (i)  provides for the company or other body to be nominated for the purposes of this section; and

                             (ii)  includes provisions with respect to the charges to be made by the company or other body to the Board in connection with the administration of the Scheme on behalf of the Board; and

                     (b)  has been nominated by the authorised person for those purposes in accordance with the agreement or arrangement.

3  Part 7

Repeal the Part.

4  Paragraphs 47(1)(b) and (c)

Repeal the paragraphs.

5  After paragraph 47(1)(e)

Insert:

                  or (f)  any other person who performs duties in connection with the administration of this Act;

6  Paragraph 51(c)

Repeal the paragraph.