Document ID: chunk:federal_register_of_legislation:F2008B00485:body:0:p1
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SUPERANNUATION BENEFITS (SUPERVISORY MECHANISMS) ACT 1990

DETERMINATION UNDER SECTION 6

PRESCRIBED REQUIREMENTS DETERMINATION NO. 1 OF 1994

I, KIM CHRISTIAN BEAZLEY, Minister of State for Finance, acting under section 6 of the Superannuation Benefits (Supervisory Mechanisms) Act 1990, being the section substituted by section 96(1) of the Superannuation Legislation Amendment Act 1994, determine that the prescribed requirements set out in Schedule 1 are to apply from 1 July 1994 to the provision of superannuation benefits, under superannuation arrangements by Commonwealth employers.

Dated 30th JUNE 1994.

  Minister of State for Finance

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SCHEDULE 1

PRESCRIBED REQUIREMENTS FOR PROVISION OF SUPERANNUATION BENEFITS

TABLE OF PROVISIONS

PART 1 - GOVERNMENT BUSINESS ENTERPRISES

    DIVISION I: SELF ASSESSMENT AND PROCEDURE
    DIVISION II: REPORTING PROCEDURES

PART 2 - STATUTORY MARKETING AUTHORITIES

    DIVISION I: SELF ASSESSMENT AND PROCEDURE
    DIVISION II: REPORTING PROCEDURES

PART 3 - OTHER COMMONWEALTH SECTOR EMPLOYERS

    DIVISION I: SELF ASSESSMENT AND PROCEDURE
    DIVISION II: REPORTING PROCEDURES

PART 4 - MISCELLANEOUS EMPLOYERS

    DIVISION I: SELF ASSESSMENT AND PROCEDURE
    DIVISION II: REPORTING PROCEDURES

PART 5 - PERSONALISED SUPERANNUATION COVER REQUIREMENTS

PART 6 - DEFINITIONS AND INTERPRETATION

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PART 1 - GOVERNMENT BUSINESS ENTERPRISES

DIVISION I: SELF ASSESSMENT AND PROCEDURE

   1. An employer may establish a superannuation arrangement to provide superannuation benefits for its employees (full time, part-time, and casual) if and only if that employer completely satisfies each of the following requirements:

      (a) the employer is a person that:

        (i) employs people under a relevant law as defined in the Act; or

        (ii) is a relevant body as defined in the Act; or

        (iii) is the subject of a declaration under subsection 3(5) of the Act; and

      (b) the employer is one of the persons set out in schedule 2; and

      (c) the employer does not employ people under the Public Service Act 1922.

   2. Before the employer establishes a superannuation scheme for the first time for more than one employee, the employer must in writing and by certified mail:

      (a) advise the Assistant Secretary that the employer satisfies the requirements in clause 1;

      (b) provide to the Assistant Secretary a detailed explanation of the manner in which the employer satisfies the requirements in clause 1; and

      (c) if the employer is a participating employer in the Public Sector Superannuation scheme, advise the Assistant Secretary of the arrangements being made to exclude new employees from membership of the Public Sector Superannuation scheme.

   3. The employer is not to establish a superannuation scheme until after a period of 60 days from the day that the Assistant Secretary receives the required advice or any lesser period agreed to in writing by the Assistant Secretary.

   4. The list of employers in schedule 2 may be amended by the Minister