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1
Statutory Authorities (Superannuation Arrangements)
STATUTORY AUTHORITIES
(SUPERANNUATION ARRANGEMENTS)
BILL 1994
EXPLANATORY NOTE
GENERAL OUTLINE
Objective of the Legislation
The objective of this Bill is to allow compliance by all statutory
authorities, in respect of their members, with the Commonwealth's
Superannuation Guarantee Charge (SGC).
Reasons for the Bill
Office of Parliamentary Counsel (OPC) were consulted on the best way
of implementing the decision of Cabinet that statutory authorities be
authorised to enter into superannuation arrangements for members. OPC
advises that the most appropriate method of implementation is by a general
Act which will apply to all statutory authorities.
Estimated Cost for Government Implementation
There will be no cost for Government.
Consultation
Office of Parliamentary Counsel has been consulted and all statutory
authorities who will be affected by the proposed legislation have been
advised.
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Statutory Authorities (Superannuation Arrangements)
Notes on Provisions
Clause 1 sets out the short title of the Act.
Clause 2 provides that the Act commenced on 1 July 1992.
Clause 3 defines a number of terms necessary for interpretation of the
Act.
Clause 4 provides that statutory authorities may enter into
superannuation arrangements for members at the level required to provide
the minimum level of superannuation support prescribed under the
Superannuation Guarantee (Administration) Act 1992 (Cwlth), provided
those arrangements meet established Queensland Government requirements
which mirror those requirements under the Commonwealth's Occupational
Superannuation Standards Act 1987.
Clause 5 gives the Governor in Council power to make regulations, in
accordance with modern drafting power.
© The State of Queensland 1994