Western Australian Numbered Acts Western Australian Numbered Acts (1) Subject to
subsections (3) to (7), the Governor may make regulations prescribing all
matters that are required or permitted by this Act or section 26 of the State
Superannuation (Transitional and Consequential Provision) Act 2000 to be
prescribed, or are necessary or convenient to be prescribed, for giving effect
to this Act.
(2) Without limiting
the generality of subsection (1) regulations may be made under subsection (1)
in relation to —
(a)
establishing schemes;
(b)
membership and Employer participation in the schemes;
(c)
contributions to be made to the Fund and other funding of the Fund;
(d)
benefits and how they are paid or dealt with;
(e)
insurance to be provided through the schemes;
(f)
management of the Fund;
(g)
administration of the schemes;
(h)
accounts and records to be kept by the Board;
(i)
information and documents to be given to and by the
Board;
(j)
provision by the Board of other products and services;
(k)
appointment and election of directors; and
(l)
appeals against, and reviews of, decisions of the Board.
(3) Regulations cannot
be made under subsection (1) if they reduce the amount of a benefit that
—
(a)
accrued or became payable before the regulations came into operation; or
(b) is,
or may become, payable in relation to a period before the regulations came
into operation.
(4) Regulations cannot
be made under subsection (1) in relation to the superannuation schemes
continued by section 29(a), (b) or (c) unless —
(a) the
Board has certified that it is satisfied that the proposed regulations will
not affect contributions or benefits; or
(b) an
actuary appointed by the Board has certified that the proposed regulations
will not reduce, or have the same effect as reducing —
(i)
in the case of a scheme continued by section 29(a)
or (b), the multiplying factor for any relevant benefit; or
(ii)
in the case of the scheme continued by
section 29(c), the pension value factor for any Member of that scheme,
to less than it was
immediately before the commencement day; or
(c) any
reduction of the kind referred to in paragraph (b) will apply only in respect
of Members who have agreed with the Board that the reduction is to apply in
the calculation of their benefit.
(5) Regulations
that —
(a) will
or may affect the financial rights or obligations of the Crown under this Act
and the value of that effect will or may exceed the prescribed amount; or
(b)
relate to other products and services that may be provided by the Board,
cannot be made under
subsection (1) unless they have been approved by the Treasurer.
(6) Regulations that
prescribe an authority, body or person for the purposes of the definition of
“Employer” may specify as the day on which they come into
operation a day that is earlier than the day on which they are published in
the Gazette .
(7) Regulations of the
kind referred to in subsection (6) cannot be made if they will or may affect a
person, except the Crown or an Employer, by —
(a)
prejudicing rights that existed before the regulation was published; or
(b)
imposing liabilities in respect of anything that occurred before the
regulation was published.
(8) Regulations
prescribing an amount for the purposes of section 37 or subsection (5)(a)
may prescribe an amount or a method of determining an amount.
(9) In subsection (4)
and this subsection —
“commencement day” means the day on
which this Act comes into operation;
“multiplying factor” , in relation to
a relevant benefit, means the components of the benefit formula by which the
Member’s salary is to be multiplied in order to calculate the benefit;
“pension value factor” means
—
(a) the
number of units that a Member may, or may become entitled to, acquire per
dollar of the Member’s salary; or
(b) the
amount of the pension that will or may become payable in respect of each unit
held by a Member;
“relevant benefit” means a benefit, or
part of a benefit, the amount of which was, immediately before the
commencement day, calculated as a multiple of a Member’s salary.