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Superannuation Legislation Amendment Bill (No. 2) 1999
Schedule 3 Exemption of senior foreign executives from superannuation guarantee

   

Superannuation Guarantee (Administration) Regulations

1  At the end of subregulation 7(1)

Add:

                   ; (c)  an employee who has been appointed by a company operating in Australia to be the national managing executive or deputy national managing executive or a state manager and who is the holder of:

                              (i)  a Subclass 456 (Business (Short Stay)) visa; or

                             (ii)  a Subclass 956 (Electronic Travel Authority) (Business Entrant—Long Validity)) visa; or

                            (iii)  a Subclass 977 (Electronic Travel Authority) (Business Entrant—Short Validity)) visa;

                     (d)  an employee who is the holder of a visa referred to in paragraph (c) if:

                              (i)  the employee:

                                        (A)  holds a position as a senior executive of a company operating in Australia; or

                                        (B)  is establishing a business activity in Australia on behalf of the employer; and

                             (ii)  the employee’s position carries substantial executive responsibility; and

                            (iii)  the employee’s qualifications for the position are appropriate; and

                            (iv)  the employee’s position is a full-time position;

                     (e)  an employee who is the holder of a Subclass 457 (Business (Long Stay)) visa if:

                              (i)  the employee has been appointed by a company operating in Australia to be the national managing executive or deputy national managing executive or a state manager; and

                             (ii)  the employee was nominated as mentioned in paragraph 457.223(2)(c), (4)(d) or (5)(d) of Schedule 2 to the Migration Regulations 1994 or identified as mentioned in subparagraph 457.223(3)(b)(i) of that Schedule;

                      (f)  an employee who is the holder of a Subclass 457 (Business (Long Stay)) visa if:

                              (i)  the employee holds a position as a senior executive of a company operating in Australia; and

                             (ii)  the employee was nominated as mentioned in paragraph 457.223(2)(c), (4)(d) or (5)(d) of Schedule 2 to the Migration Regulations 1994 or identified as mentioned in subparagraph 457.223(3)(b)(i) of that Schedule; and

                            (iii)  the employee’s position carries substantial executive responsibility; and

                            (iv)  the employee’s qualifications for the position are appropriate; and

                             (v)  the employee’s position is a full-time position;

                     (g)  an employee who is the holder of a Subclass 457 (Business (Long Stay)) visa if:

                              (i)  the employee is establishing a business activity in Australia on behalf of the employer; and

                             (ii)  the employee’s position carries substantial executive responsibility; and

                            (iii)  the employee’s qualifications for the position are appropriate; and

                            (iv)  the employee’s position is a full-time position.

2  Transitional—amendments apply from 1 August 1996

Paragraphs 7(1)(c), (d), (e), (f) and (g) of the Superannuation Guarantee (Administration) Regulations apply to an employee who, on or after 1 August 1996, became the holder of:

                     (a)  a Subclass 456 (Business (Short Stay)) visa; or

                     (b)  a Subclass 457 (Business (Long Stay)) visa; or

                     (c)  a Subclass 956 (Electronic Travel Authority) (Business Entrant—Long Validity)) visa; or

                     (d)  a Subclass 977 (Electronic Travel Authority) (Business Entrant—Short Validity)) visa.

3  Transitional—regulations may be amended

This Schedule does not prevent the amendment or repeal of the Superannuation Guarantee (Administration) Regulations by regulations made under the Superannuation Guarantee (Administration) Act 1992.

 

 

[ Minister’s second reading speech made in—

House of Representatives on 11 March 1999

Senate on 21 June 1999 ]

 

 

(19/99)