Electricity (Amendment of Effect of Articles and Rules of Superannuation Scheme and Fund for the Queensland Electricity Supply Industry) Regulation 1994
ELECTRICITY (AMENDMENT OF EFFECT OF ARTICLES AND RULES OF
SUPERANNUATION
QueenslandElectricity Act
1976Gladstone Power Station Agreement Act
1993ELECTRICITY(AMENDMENTOFEFFECTOFARTICLESANDRULESOFSUPERANNUATIONSCHEMEANDFUNDFORTHEQUEENSLANDELECTRICITYSUPPLYINDUSTRY)REGULATION1994Reprinted as in force on 27 April
1994(Regulation not amended up to this
date)Reprint No. 1This reprint is
prepared bythe Office of the Queensland Parliamentary
CounselWarning—This reprint is not an authorised
copy
Information about this reprintThis
regulation is reprinted as at 27 April 1994.The opportunity
has been taken, under section 7 of theReprints Act
1992, to do thefollowing—•useconjunctivesanddisjunctivesconsistentwithcurrentlegislativedraftingpractice as permitted by section 28 of that
Act;•useaspectsofformatandprintingstyleconsistentwithcurrentlegislativedrafting practice
as permitted by section 35 of that Act.See Endnotes
for—•details about when provisions
commenced; and•any provisions that have not commenced
and are not incorporated in thereprint.
s13s2Electricity (Amendment of Effect of Articles
andRules of Superannuation Scheme and Fund
forthe Queensland Electricity Supply
Industry)Regulation 1994ELECTRICITY
(AMENDMENT OF EFFECT OFARTICLES AND RULES OFSUPERANNUATION SCHEME AND FUNDFOR
THE QUEENSLAND ELECTRICITYSUPPLY INDUSTRY) REGULATION
1994[reprinted as in force on 27 April
19942]†PART
1—PRELIMINARY˙Short title1.This
regulation may be cited as theElectricity
(Amendment of Effect ofArticles and Rules of Superannuation
Scheme and Fund for the QueenslandElectricity
Supply Industry) Regulation 19943.˙Definitions2.(1)Unless the
contrary intention appears, expressions defined in theArticles and used in this regulation have the
meaning given in the Articles.(2)In
this regulation—“Articles”meanstheArticlesoftheQueenslandElectricitySupplyIndustry Employees’ Superannuation
Scheme;“completion of the sale”means the
completion of the sale of the GladstonePower Station
under the Power Station Sale Agreement;“former
member”means a person mentioned in section
5;“GPSSuperannuationFund”means the superannuation fund
providedby the operator of the Gladstone Power
Station for its employees;“Rules”meanstheRulesoftheQueenslandElectricitySupplyIndustryEmployer-Funded
Accumulations Superannuation Fund.
s34s5Electricity (Amendment of Effect of Articles
andRules of Superannuation Scheme and Fund
forthe Queensland Electricity Supply
Industry)Regulation 1994†PART
2—AMENDMENT OF EFFECT OF ARTICLES†Division 1—Amended effect˙Amendment of effect of Articles3.The effect of the Articles is amended
as set out in this Part.˙Application of
this regulation4.The amendment of the effect of the
Articles applies only to personswho—(a)immediately before completion of the
sale, are—(i)employees of the Commission;
and(ii)members of the
Scheme; and(b)on completion of the sale, become
employees, other than of theCommission, at
the Gladstone Power Station.˙On
completion of sale, persons to whom regulation applies
becomeformer members5.Theimmediateeffectofthecompletionofthesaleonpersonstowhom
this regulation applies is that, for the purposes of this
regulation andthe Articles, the persons cease to be
eligible employees but keep, subject tothisregulation,theentitlementsofmemberswhohaveceasedtobeemployed in the
service of the electricity supply industry.
s85s8Electricity (Amendment of Effect of Articles
andRules of Superannuation Scheme and Fund
forthe Queensland Electricity Supply
Industry)Regulation 1994†Division 2—Effect on former members
contributing under s 18 ofArticles†Subdivision 1—Former members contributing at
5% rate˙Application of this Subdivision6.ThisSubdivisionappliestoaformermemberwho,immediatelybefore the
completion of the sale—(a)makes
contributions under section 18 (SEAQ, NEAQ and REBFunds Trust Deed) of the Articles at the
rate of 5% or more ofsalary (whether or not making
additional contributions); and(b)has
not made an election under section 11M(b)(vii)(2) (Benefit
onResignation or Dismissal) of the Articles as
in force immediatelybeforethecommencementoftheElectricity(ArticlesoftheQueenslandElectricitySupplyIndustryEmployees’Superannuation
Scheme) Amendment Regulation (No. 2) 1993.˙Former member taken to have elected to
contribute under s 18A ofArticles7.(1)Aformermemberistakentohaveelected,undersection18A(Election by Members of SEAQ, NEAQ or
REB to convert to the Scheme)oftheArticles,tomakecontributionstotheSchemeundersection6(Member’s Contributions) of the
Articles.(2)The election takes effect immediately
before completion of the sale.˙Effect
of election8.(1)The effect of an
election under this Subdivision is that the formermember is eligible for the benefits and
entitlements under Part 5 (ImprovedBenefits for
Members) of the Articles.(2)However—
s86s8Electricity (Amendment of Effect of Articles
andRules of Superannuation Scheme and Fund
forthe Queensland Electricity Supply
Industry)Regulation 1994(a)sections28(Meaningof“member’sbenefitmultiple”)and29(Meaning of “member’s reserve”) of the
Articles do not apply;and(b)the
member’s benefit multiple for the former member is 15% foreach
complete year and on a proportionate basis for part of a
yearof the former member’s membership period to
age 65; and(c)themember’sreservefortheformermembermeansthenetamountoftheformermember’sequitableshare(beingtheamountdeterminedundertheformulaprovidedbytheSuperannuationBoard’sactuaryandadoptedbytheSuperannuation Board for calculation
of retrenchment benefits);and(d)despite section 30 (Retirement between 55
and 65) of the Articles,a former member who, on the completion
of the sale, reached 55but not 65 may, within 3 months after
the completion of the sale,elect—(i)not to receive the lump sum benefit
payable under section 30of the Articles; and(ii)to preserve the
lump sum in the Scheme; and(e)ifaformermembermakesanelectionmentionedinparagraph (d)—(i)the
amount to be preserved must be credited to an account inthe
former member’s name within the Scheme; and(ii)interestmustbecreditedtotheformermember’saccountundersection40(Interestonpreservedamounts)oftheArticles;
and(iii)theamountpreservedandaccruedinterestis,onwrittenapplication by the former member or the
former member’slegalpersonalrepresentative,tobepaidtotheformermember, the
former member’s dependants, beneficiaries orlegal personal
representative if—(A)the former member reaches 65;
or
s87s8Electricity (Amendment of Effect of Articles
andRules of Superannuation Scheme and Fund
forthe Queensland Electricity Supply
Industry)Regulation 1994(B)the
former member provides evidence, satisfactory tothe
Superannuation Board, that the former member hasretired from the work force; or(C)the former member satisfies the
Superannuation Boardthattheformermemberistotallyandpermanentlydisabled;
or(D)the former member dies; or(E)the former member satisfies the
Superannuation BoardthattheformermemberispermanentlyleavingAustralia; or(F)thepaymentofthebenefittotheformermemberisapproved by the ISC; and(f)ifparagraph(e)applies—section42(Paymentofpreservedfunds) of the
Articles does not apply; and(g)in
relation to section 42(a) of the Articles—(i)section 42(a)(i) does not apply; and(ii)the additional
conditions that apply to a payment made underthat section
are—(A)the former member must reach 65;
or(B)the former member must provide
evidence, satisfactoryto the Superannuation Board, that the
former memberhas retired from the work force; or(C)theformermembermustsatisfytheSuperannuationBoardthattheformermemberhasbeenretrenchedfromemploymentbytheoperatoroftheGladstonePower Station;
or(D)theformermembermustsatisfytheSuperannuationBoardthattheformermemberhasresigned(ortheformer member’s employment has been
terminated bythe employer) because of serious ill
health.
s
98s 11Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
1994†Subdivision 2—Former members
contributing at 3.75% rate˙Application of
this Subdivision9.This Subdivision applies to a former
member who immediately beforethe completion of
the sale—(a)contributesundersection18(SEAQ,NEAQandREBFundsTrust Deed) of the Articles at the rate of
3.75% or more of salary(whether or not making additional
contributions); and(b)is taken to have made an election
under section 11M(b)(vii)(2)(Benefit on
Resignation or Dismissal) of the Articles as in forceimmediately before the commencement of
theElectricity(ArticlesoftheQueenslandElectricitySupplyIndustryEmployees’Superannuation
Scheme) Amendment Regulation (No. 2) 1993.˙Former member taken to have elected to
contribute under ss 18A and23 of Articles10.(1)A
former member is taken to have elected—(a)undersection18A(ElectionbyMembersofSEAQ,NEAQorREBtoconverttotheScheme)oftheArticlestomakecontributionstotheSchemeundersection6(Member’sContributions)
of the Articles; and(b)under section 23
(Application of Part) of the Articles, to makecontributions
under section 6 of the Articles at the rate of 5% ofsalary.(2)The
election takes effect immediately before completion of the
sale.˙Effect of election11.(1)The
effect of an election under this Subdivision is that the
formermember is eligible for the benefits and
entitlements under Part 5 (ImprovedBenefits for
Members) of the Articles.
s
119s 11Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
1994(2)However—(a)sections28(Meaningof“member’sbenefitmultiple”)and29(Meaning of “member’s reserve”) of the
Articles do not apply;and(b)the
member’s benefit multiple for the former member is 15% foreach
complete year and on a proportionate basis for part of a
yearof the former member’s membership period to
age 65; and(c)themember’sreservefortheformermembermeansthenetamountoftheformermember’sequitableshare(beingtheamountdeterminedundertheformulaprovidedbytheSuperannuationBoard’sactuaryandadoptedbytheSuperannuation Board for calculation
of retrenchment benefits);and(d)despite section 30 (Retirement between 55
and 65) of the Articles,a former member who, on the completion
of the sale, reached 55but not 65 may, within 3 months after
the completion of the sale,elect—(i)not to receive the lump sum benefit
payable under section 30of the Articles; and(ii)to preserve the
lump sum in the Scheme; and(e)ifaformermembermakesanelectionmentionedinparagraph (d)—(i)the
amount to be preserved must be credited to an account inthe
former member’s name within the Scheme; and(ii)interestmustbecreditedtotheformermember’saccountundersection40(Interestonpreservedamounts)oftheArticles;
and(iii)theamountpreservedandaccruedinterestis,onwrittenapplication by the former member or the
former member’slegalpersonalrepresentative,tobepaidtotheformermember, the
former member’s dependants, beneficiaries orlegal personal
representative if—
s
1110s 11Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
1994(A)the former member reaches 65;
or(B)the former member provides evidence,
satisfactory tothe Superannuation Board, that the former
member hasretired from the work force; or(C)the former member satisfies the
Superannuation Boardthattheformermemberistotallyandpermanentlydisabled;
or(D)the former member dies; or(E)the former member satisfies the
Superannuation BoardthattheformermemberispermanentlyleavingAustralia; or(F)thepaymentofthebenefittotheformermemberisapproved by the ISC; and(f)ifparagraph(e)applies—section42(Paymentofpreservedfunds) of the
Articles does not apply; and(g)in
relation to section 42(a) of the Articles—(i)section 42(a)(i) does not apply; and(ii)the additional
conditions that apply to a payment made underthat section
are—(A)the former member must reach 65;
or(B)the former member must provide
evidence, satisfactoryto the Superannuation Board, that the
former memberhas retired from the work force; or(C)theformermembermustsatisfytheSuperannuationBoardthattheformermemberhasbeenretrenchedfromemploymentbytheoperatoroftheGladstonePower Station;
or(D)theformermembermustsatisfytheSuperannuationBoardthattheformermemberhasresigned(ortheformer member’s employment has been
terminated bythe employer) because of serious ill
health.
s
1211s 14Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
1994†Division 3—Effect on former members
contributing under s 11 ofArticles˙Application of this Division12.This Division applies to a former
member—(a)whoimmediatelybeforethecompletionofthesalemakescontributionsundersection6(Member’sContributions)oftheArticles at the rate of 3.75% of
salary; and(b)to whom Part 3 (Benefits and Payments)
of the Articles applies.˙Former member
taken to have elected to contribute under s 23 ofArticles13.(1)Aformermemberistakentohaveelectedundersection23(ApplicationofPart)oftheArticles,tocontributeundersection6(Member’s Contributions) of the Articles at
the rate of 5% of salary.(2)The election
takes effect immediately before completion of the sale.˙Effect of election14.(1)The
effect of the election under this Division is that the
formermember is eligible for the benefits and
entitlements under Part 5 (ImprovedBenefits for
Members) of the Articles.(2)However—(a)section11D(Meaningofmember’sbenefitmultiple)oftheArticlesappliesinsteadofsection28(Meaningof“member’sbenefit
multiple”) of the Articles; and(b)section 29 (Meaning of “member’s reserve”)
of the Articles doesnot apply; and(c)themember’sreservefortheformermemberhasthemeaninggiveninsection11E(Meaningofmember’sreserve)oftheArticles;
and
s
1412s 14Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
1994(d)despite section 30 (Retirement between
55 and 65) of the Articles,a former member
who, on the completion of the sale, reached 55but not 65 may,
within 3 months after the completion of the sale,elect—(i)not
to receive the lump sum benefit payable under section 30of
the Articles; and(ii)to preserve the
lump sum in the Scheme; and(e)ifaformermembermakesanelectionmentionedinparagraph (d)—(i)the
amount to be preserved must be credited to an account inthe
former member’s name within the Scheme; and(ii)interestmustbecreditedtotheformermember’saccountundersection40(Interestonpreservedamounts)oftheArticles;
and(iii)theamountpreservedandaccruedinterestis,onwrittenapplication by the former member or the
former member’slegalpersonalrepresentative,tobepaidtotheformermember, the
former member’s dependants, beneficiaries orlegal personal
representative if—(A)the former member reaches 65;
or(B)the former member provides evidence,
satisfactory tothe Superannuation Board, that the former
member hasretired from the work force; or(C)the former member satisfies the
Superannuation Boardthattheformermemberistotallyandpermanentlydisabled;
or(D)the former member dies; or(E)the former member satisfies the
Superannuation BoardthattheformermemberispermanentlyleavingAustralia; or(F)thepaymentofthebenefittotheformermemberis
s
1613s 17Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
1994approved by the ISC; and(f)ifparagraph(e)applies—section42(Paymentofpreservedfunds) of the
Articles does not apply; and(g)in
relation to section 42(a) of the Articles—(i)section 42(a)(i) does not apply; and(ii)the additional
conditions that apply to a payment made underthat section
are—(A)the former member must reach 65;
or(B)the former member must provide
evidence, satisfactoryto the Superannuation Board, that the
former memberhas retired from the work force; or(C)theformermembermustsatisfytheSuperannuationBoardthattheformermemberhasbeenretrenchedfromemploymentbytheoperatoroftheGladstonePower Station;
or(D)theformermembermustsatisfytheSuperannuationBoardthattheformermemberhasresigned(ortheformer member’s employment has been
terminated bythe employer) because of serious ill
health.†Division 4—Effect on former members
contributing under s 10 ofArticles˙Application of this Division15.This Division applies to a former
member who, immediately beforethe completion of
the sale, makes contributions under section 10(3) (SEAQAccumulation Fund Members) of the
Articles.˙Former member taken to have elected to
contribute under s 45 ofArticles
s
1814s 19Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
199416.(1)Aformermemberistakentohaveelectedundersection45(Election to transfer to this Scheme)
of the Articles, to make contributionsunder section 6
(Member’s Contributions) of the Articles at the rate of 5%of
salary.(2)The election takes effect immediately
before completion of the sale.˙Effect
of election17.(1)The effect of
the election under this Division is that the formermember is eligible for the benefits and
entitlements under Part 5 (ImprovedBenefits for
Members) of the Articles.(2)However—(a)despitesection29(Meaningof“member’sreserve”)oftheArticlesthemember’sreserveofaformermembermustnotexceed the sum of—(i)the
subscriber’s entitlement; and(ii)the
authority entitlement;undertheSEAQAccumulationFundTrustDeedasatthecompletion of the sale; and(b)in relation to section 42(a) (Payment
of preserved funds) of theArticles—(i)section 42(a)(i) does not apply; and(ii)the additional
conditions that apply to a payment made underthat section
are—(A)the former member must reach 65;
or(B)the former member must provide
evidence, satisfactoryto the Superannuation Board, that the
former memberhas retired from the work force; or(C)theformermembermustsatisfytheSuperannuationBoardthattheformermemberhasbeenretrenchedfromemploymentbytheoperatoroftheGladstone
s
1915s 19Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
1994Power Station; or(D)theformermembermustsatisfytheSuperannuationBoardthattheformermemberhasresigned(ortheformer member’s employment has been
terminated bythe employer) because of serious ill
health.†Division 5—Effect on former members
contributing under Pt 5 ofArticles˙Application of this Division18.This Division applies to a former
member—(a)who,immediatelybeforethecompletionofthesale,makescontributionsundersection6(Member’sContributions)oftheArticles at the rate of 5% of salary;
and(b)to whom, immediately before the
completion of the sale, Part 5(Improved
Benefits for Members) of the Articles applies.˙Modification of benefits, rights and
entitlements under Articles19.On the
completion of the sale, a former member’s rights, benefitsandentitlementsunderPart5(ImprovedBenefitsforMembers)oftheArticles are modified as
follows—(a)despite section 30 (Retirement between
55 and 65) of the Articles,a former member
who, on the completion of the sale, reached 55but not 65, may,
within 3 months after the completion of the sale,elect—(i)not
to receive the lump sum benefit payable under section 30of
the Articles; and(ii)to preserve the
lump sum in the Scheme;(b)ifaformermembermakesanelectionmentionedinparagraph (a)—
s
2016s 21Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
1994(i)the amount to be preserved must be
credited to an account inthe former member’s name in the
Scheme; and(ii)interestmustbecreditedtotheformermember’saccountundersection40(Interestonpreservedamounts)oftheArticles;
and(iii)theamountpreservedandaccruedinterestis,onwrittenapplication by the former member or the
former member’slegalpersonalrepresentative,tobepaidtotheformermember, the
former member’s dependants, beneficiaries orlegal personal
representative if—(A)the former member reaches 65;
or(B)the former member provides evidence,
satisfactory tothe Superannuation Board, that the former
member hasretired from the work force; or(C)the former member satisfies the
Superannuation Boardthattheformermemberistotallyandpermanentlydisabled;
or(D)the former member dies; or(E)the former member satisfies the
Superannuation BoardthattheformermemberispermanentlyleavingAustralia; or(F)thepaymentofthebenefittotheformermemberisapproved by the ISC;(c)ifparagraph(b)applies—section42(Paymentofpreservedfunds) of the
Articles does not apply;(d)in relation to
section 42(a) of the Articles—(i)section 42(a)(i) does not apply; and(ii)the additional
conditions that apply to a payment made underthat section
are—(A)the former member must reach 65;
or
s
2217s 22Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
1994(B)the former member must provide
evidence, satisfactoryto the Superannuation Board, that the
former memberhas retired from the work force; or(C)theformermembermustsatisfytheSuperannuationBoardthattheformermemberhasbeenretrenchedfromemploymentbytheoperatoroftheGladstonePower Station;
or(D)theformermembermustsatisfytheSuperannuationBoardthattheformermemberhasresigned(ortheformer member’s employment has been
terminated bythe employer) because of serious ill
health.†PART 3—RECIPROCITY WITH GPSSUPERANNUATION SCHEME˙GPS
Superannuation Fund approved under s 17(1) of Articles20.The Superannuation Board may make an
agreement with the operatorof the Gladstone
Power Station under section 17 (Transfer to the Scheme)of
the Articles.˙Transfers to GPS Superannuation
Fund21.(1)A former member
may, in writing, ask the Superannuation Boardto pay to the GPS
Superannuation Fund the former member’s entitlementfrom
the Scheme.(2)If the GPS Superannuation Fund
approves in writing the request—(a)the
Superannuation Board must comply with the request; and(b)the request is taken, for the purposes
of section 13(2) (TransferstoOtherFunds)oftheRulestobeanelectiontohavetheMember’sAccumulatedBalanceundertheRules(including
s
2218s 22Electricity
(Amendment of Effect of Articles andRules of
Superannuation Scheme and Fund forthe Queensland
Electricity Supply Industry)Regulation
1994interest to the day of transfer) transferred
directly for preservationto the GPS Superannuation Fund under
that section.(3)TheamounttobepaidfromtheSchemebytheSuperannuationBoard is the
greater of—(a)the total amount held in the Scheme
for the person as determinedby the
Superannuation Board; or(b)the person’s
entitlement from the Scheme under the Articles, asmodified by this regulation at the time of
the request.(4)Onpaymentoftheamountunderthissection,thepersonhasnofurther entitlements under the Scheme
or the Rules.†PART 4—APPLICATION OF OSSA˙Incorporation of standards under
OSSA22.Section 21 (Incorporation of standards
under OSSA) and section 22(Interpretation of OSSA—ISC
Pronouncement) of the Articles apply to theamendments of the
effect of the Articles as if the amendments were part ofthe
Articles.
19Electricity (Amendment of Effect of
Articles andRules of Superannuation Scheme and Fund
forthe Queensland Electricity Supply
Industry)Regulation 1994†ENDNOTES´1Index to EndnotesPage2Date to which amendments incorporated
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
193List of legislation . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . 19´2Date to which
amendments incorporatedThis is the reprint date mentioned in
the Reprints Act 1992, section 5(c).However,noamendmentshavecommencedoperationonorbeforethatday.FutureamendmentsoftheElectricity(AmendmentofEffectofArticlesandRulesofSuperannuationSchemeandFundfortheQueenslandElectricitySupplyIndustry)Regulation 1994
may be made in accordance with this reprint under the Reprints
Act1992, section 49.´3List of legislationElectricity(AmendmentofEffectofArticlesandRulesofSuperannuationSchemeandFundfortheQueenslandElectricitySupplyIndustry)Regulation 1994
SL No. 110notfd Gaz 25 March 1994 pp 1228–32commenced on date of
notification