Document ID: chunk:federal_register_of_legislation:C2005C00431:section:7:p2
Version: federal_register_of_legislation:C2005C00431
Segment Type: section
Provision Reference: s 7 (pt 2/3)
Character Range: 16605–19365

cannot be so modified—will most effectively restrict the operation of the arrangement or amendment.

 (5) Where, because of the operation of subsection 5(6) of this Act, or subsection 5(4) or (5) of the Superannuation Benefits (Supervisory Mechanisms) Act 1990 as in force immediately before 1 July 1994, a superannuation arrangement, or an amendment of a superannuation arrangement, is of no force or effect in its application in respect of particular persons, the Minister may, after having regard to the consequences to persons receiving, or likely to receive, benefits under the arrangement, by determination in writing:
 (a) declare the arrangement or amendment, in its application to those persons, and all or any actions associated with its application in respect of those persons, to have the same force and effect as if it had made provision for, or constituted the provision of, superannuation benefits in respect of those persons in accordance with the requirements of this Act; or
 (b) declare the arrangement or amendment, in its application in respect of those persons, and all or any actions associated with its application in respect of those persons, to have the force and effect referred to in paragraph (a) if the employer concerned, within a period specified in the determination, takes, to the satisfaction of the Minister, such action in relation to the arrangement or amendment as is specified in the determination, being action that, in the opinion of the Minister:
 (i) will most effectively modify the operation of the arrangement or amendment so that the effect of its application in respect of those persons will be substantially similar to the effect its application would have had if it had made provision for, or constituted the provision of, superannuation benefits in respect of those persons in accordance with the requirements of this Act; or
 (ii) if it cannot be so modified—will most effectively restrict the operation of the arrangement or amendment in its application to those persons.

 (6) Where the Minister makes a determination under subsection (4) or (5), he or she:
 (a) must cause a copy of the determination to be given to the employer concerned; and
 (b) must cause a copy of the determination to be laid before each House of the Parliament within 5 sitting days of that House after its making.

 (7) Either House of the Parliament, within 5 sitting days of that House after a copy of a determination has been laid before that House may, under a motion upon notice, pass a resolution disallowing the determination.

 (8) Where:
 (a) a notice referred to in subsection (7) is given with respect to a determination; and
 (b) at the expiration of the period during which a resolution disallowing the determination