Document ID: chunk:federal_register_of_legislation:C2004A04205:body:0:p6
Version: federal_register_of_legislation:C2004A04205
Segment Type: other
Provision Reference: 
Character Range: 15067–17958

examination, and issue of benefit classification certificate, on becoming eligible employee

10. Section 16 of the Principal Act is amended by inserting after subsection (4) the following subsections:

"(4a) Subsection (4) does not apply after 31 March 1991 in relation to a person:

    (a)     in respect of whom a benefit classification certificate was not in force on that date; and

    (b)     who was on 30 June 1990, and continued to be until 31 March 1991, an eligible employee.

"(4b) Despite subsection (4a), subsection (4) applies to a person mentioned in subsection (4a) who, after 31 March 1991, ceases to be an eligible employee and again becomes an eligible employee.

"(4c) Nothing in subsection (4a) affects the operation of section 16ac or subsections 184 (5) to (5c) (inclusive).".

Benefit event happening before section 16 procedures completed

11. Section 16aa of the Principal Act is amended by adding at the end the following subsection:

"(10) Nothing in this section applies in relation to a person who on 30 June 1990 was, and until the time of the benefit event in relation to the person, being a benefit event that occurred after 31 March 1991, continued to be, an eligible employee.".

Commissioner for Superannuation

12. Section 17 of the Principal Act is amended by omitting subsection (2) and substituting the following subsection:

"(2) Except as otherwise provided by this Act, the Commissioner is to have the general administration of this Act and the superseded Act.".

Functions

  13. Section 27c of the Principal Act is amended:

    (a) by omitting subsection (1) and substituting the following subsection:

      "(1) The functions of the Board are:

        (a) to manage and invest the Fund so as to maximise the return earned on the Fund, having regard to:

             (i) the need to make provision for payments out of the Fund under this Act; and

             (ii) the need for equity among eligible employees; and

             (iii) the need to exercise reasonable care and prudence in order to maintain the integrity of the Fund; and

      (b) to give directions under subsection 7 (2); and

         (c) to give directions for the purposes of subsection 51 (1); and

      (d)     to give certificates for the purposes of section 54c; and

        (e)     to make decisions relating to the retirement of eligible employees as provided by Part IVa including decisions relating to the making of pre-assessment payments; and

        (f)      to make determinations in respect of income tax as provided by subsection 110q (1a); and

      (g) to make declarations under subsection 133 (1); and

      (h) to make declarations under subsection 134 (1); and

       (i) to give directions under subsection 139a (1a); and

       (j) to make declarations under subsection 145 (11); and

       (k) to reconsider decisions in accordance with