Western Australian Numbered Acts Western Australian Numbered Acts (1) Before
section 38(2) insert:
(1) Subject to
subsections (3) to (8), the Governor may make regulations prescribing all
matters that are required or permitted by this Act or the
State Superannuation (Transitional and Consequential Provisions)
Act 2000 section 26 to be prescribed, or are necessary or convenient
to be prescribed for giving effect to the purposes of this Act.
(2) In
section 38(2):
(a)
delete “section 79 but subject to this section,” and insert:
subsection (1),
(b)
delete “under section 79” and insert:
under
subsection (1)
(3) Delete
section 38(3) and insert:
(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) After
section 38(4) insert:
(5A) Regulations
cannot be made under subsection (1) in relation to the superannuation
schemes continued by section 29(1)(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(1)(a) or (b), the multiplying factor for any relevant benefit;
or
(ii)
in the case of the scheme continued by
section 29(1)(c), the pension value factor for any Member of that scheme,
to less than it was
immediately before 17 February 2001; 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.
(5B) In
subsection (5A) and in this subsection —
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
17 February 2001, calculated as a multiple of a Member’s
salary.
(5C)
Subsections (3) and (5A) do not apply in respect of regulations that
reduce or provide for the reduction of a Member’s benefit if —
(a) a
superannuation agreement, flag lifting agreement or splitting order is in
force in respect of the Member; and
(b) the
reduction does not reduce the Member’s benefit to less than the
Member’s entitlement under the agreement or order.
(5D) In
subsection (5C) —
flag lifting agreement has the meaning given in
the Family Law Act 1975 (Commonwealth) section 90MD;
splitting order has the meaning given in the
Family Law Act 1975 (Commonwealth) section 90MD;
superannuation agreement has the meaning given in
the Family Law Act 1975 (Commonwealth) section 90MD.
(5E) Regulations under
subsection (1) may permit the Board to pay a pension or other benefit
under the scheme continued by section 29(1)(c) for the purpose of —
(a)
giving effect to a payment split; or
(b)
satisfying the requirements of the Family Law (Superannuation) Regulations
2001 (Commonwealth) Division 2.2 in relation to an entitlement in respect
of a superannuation interest in the scheme.
(5F) In
subsection (5E) —
payment split has the meaning given in the
Family Law Act 1975 (Commonwealth) section 90MD;
superannuation interest has the meaning given in
the Family Law Act 1975 (Commonwealth) section 90MD.
(5) In
section 38(5):
(a)
delete “Regulations that —” and insert:
Regulations cannot be
made under subsection (1), unless they have been approved by the
Treasurer, if they —
(b) in
paragraph (a) delete “Part to the extent that” and insert:
Act and
(c) in
paragraph (b) delete “subsection (2)(j),” and insert:
subsection (2)(j).
(d)
delete “cannot be made unless they have been approved by the
Treasurer.”.
(6) Delete
section 38(6) and insert:
(6) Regulations that
prescribe an authority, body or person for the purposes of the definition of
Employer in section 3 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.
(7) In
section 38(8) delete “ section 37 or”.
(8) Delete
section 38(9) and (10).