Document ID: chunk:federal_register_of_legislation:F2021C00237:reg:3:p1
Version: federal_register_of_legislation:F2021C00237
Segment Type: reg
Provision Reference: reg 3 (pt 1/2)
Character Range: 6761–9747

3  Functions and Powers of CSC in relation to PSSAP

      3.1 The functions of CSC in relation to PSSAP and the PSSAP Fund are to administer PSSAP and to manage and invest the PSSAP Fund in accordance with the provisions of the Act and this Deed including, without limiting the generality of the foregoing, the following functions:
         (a)              to receive payments from designated employers as provided for in the Act and other superannuation entities in accordance with this Deed;
         (b)              to pay benefits to the persons entitled to receive benefits from PSSAP in accordance with the Act and this Deed;
         (c) to provide information about benefits or potential benefits, and available options, to:
            (i) PSSAP members;
            (ii) non‑member spouses; and
            (iii) potential PSSAP members;
         (d) to provide advice to the Minister on proposed changes to the Act and the Deed; and
     (e) to determine interest rates for the purposes of PSSAP.
      3.2 CSC has power in Australia and elsewhere to do all things necessary or convenient to be done for, or in connection with, the performance of its functions and, in particular, may:
         (a) give guarantees;
         (b) underwrite or sub‑underwrite any form of investment including the underwriting or sub‑underwriting of the issue of shares, debentures or units in a unit trust;
         (c) borrow moneys and give security over the whole or any part of the assets of the PSSAP Fund;
         (d) appoint agents and attorneys;
         (e) act as agent for other persons;
         (f) engage consultants and investment managers;
         (g) engage a panel of persons to assist it in determining whether a person is to be retired on the grounds of invalidity;
         (h) establish a Reconsideration Advisory Committee or Committees to examine and report on decisions of CSC and its delegates under the Rules relating to entitlements to benefits of PSSAP members and non‑member spouses entitled to benefits;
         (i) effect policies with insurers in CSC's name to provide death and invalidity cover and income protection cover for members in accordance with the Rules;
         (j) take action to control or manage, or to enhance or protect, the value of, any investment made out of the PSSAP Fund, or to enhance or protect, the return on any such investment;
         (k) arrange for the purchase of income products, including retirement income products, by members, non‑members and beneficiaries as provided for in the Rules;
         (l) establish a trust for the purpose of investing the PSSAP Fund and manage and administer the trust; and
         (m) charge reasonable fees relating to the costs of the administration of the Act and this Deed, including arrangements connected with PSSAP members and non‑member spouses choosing particular investment strategies and arrangements connected with splitting of superannuation interests under the Family Law