Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007

Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 TABLE OF PROVISIONS Section Page PART 1—PRELIMINARY 1 1 Purpose 1 2 Commencement 2 PART 2—EMERGENCY SERVICES SUPERANNUATION ACT 1986 3 3 Amendment of section 3—Definitions 3 4 Amendment of section 8—Vacancies on Board 3 5 Section 9 substituted and section 9A inserted 4 9 Deputies—elected members 4 9A Deputies—nominated members 5 6 Amendment of section 20A—Contributions 5 7 Amendment of section 20M—Optional contributions during leave of absence 5 8 Amendment of section 21—Definitions for the purposes of contribution splitting 6 9 Amendment of section 21B—Membership of ESSPLAN 6 10 Amendment of section 21I—Members accounts for ESSPLAN 6 11 New section 21IA inserted—Contribution splitting 7 21IA Contribution splitting 7 12 Amendment of section 21JA—Spouse accounts 9 13 Amendment of section 21M—Transfer of preserved benefit 9 14 Amendment of section 21N—Transfer to or from new scheme 10 15 Amendment of section 21O—Transfer of benefits to other fund 10 16 Amendment of section 26—Assignment or charging of interest 11 PART 3—GOVERNMENT SUPERANNUATION ACT 1999 12 17 Amendment of section 42—MTA Superannuation Fund 12 i -- 1 of 30 -- Section Page PART 4—STATE EMPLOYEES RETIREMENT BENEFITS ACT 1979 13 18 Amendment of section 2—Definitions 13 19 Amendment of section 23—Member contribution rates 13 20 Amendment of section 24—Contributions deducted from salary 13 21 Amendment of section 34AB—Exempt officers 14 22 Amendment of section 37—Resignation benefits 14 23 Amendment of section 38—Deferred retirement benefits 14 24 Amendment of section 70A—Assignment or charging of interest 14 25 Amendment of section 75—Conversion option to apply to transferees who become exempt officers 15 PART 5—STATE SUPERANNUATION ACT 1988 16 26 Amendment of section 3—Definitions 16 27 Amendment of section 3—Definitions 16 28 Amendment of section 27—Original scheme members 16 29 Amendment of section 28—Revised scheme members 17 30 Amendment of section 47—Provisions applying to deferred pensions 17 31 Amendment of section 49—Election in respect of leave of absence without pay 17 32 Amendment of section 50—New scheme members 18 33 Amendment of section 53—Benefit on death of new scheme member before retirement 18 34 Amendment of section 58—Benefit on resignation 18 35 Amendment of section 59—Intermittent service 19 36 Amendment of section 61—Transfer from revised scheme to new scheme 19 37 Amendment of section 61A—Exempt officers 19 38 Amendment of section 66—Officers on secondment or leave of absence 20 39 Amendment of section 69—Members of approved superannuation schemes 20 40 Amendment of section 88—Assignment or charging of interest 20 41 Amendment of section 94—Transfer of members of MWCESF 21 42 Amendment of section 101—Provisions relating to transferred beneficiaries 21 PART 6—SUPERANNUATION (PORTABILITY) ACT 1989 22 43 Amendment of section 3—Definitions 22 44 Amendment of section 5—Entitlement to deferred retirement benefit 22 45 Amendment of section 7—Provisions relating to payment of benefits 22 ii -- 2 of 30 -- Section Page PART 7—TRANSPORT SUPERANNUATION ACT 1988 23 46 Amendment of section 3—Definitions 23 47 Amendment of section 28—Contributions by members 23 48 Amendment of section 30—Benefit on death before retirement 23 49 Amendment of section 31—Benefit on retirement through disability 24 50 Amendment of section 34A—Exempt officers 24 51 Amendment of section 35—Benefit on resignation 24 52 Amendment of section 37—Intermittent service 25 53 Amendment of section 49—Assignment or charging of interest 25 PART 8—REPEAL OF AMENDING ACT 26 54 Repeal of Act 26 ═══════════════ ENDNOTES 27 iii -- 3 of 30 -- Victoria Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007† No. 37 of 2007 [Assented to 14 August 2007] The Parliament of Victoria enacts: PART 1—PRELIMINARY 1 Purpose The purpose of this Act is to— (a) amend the Emergency Services Superannuation Act 1986 to facilitate the splitting of superannuation contributions; 1 -- 4 of 30 -- Part 1—Preliminary Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 2 (b) make miscellaneous amendments to the Emergency Services Superannuation Act 1986, the Government Superannuation Act 1999, the State Employees Retirement Benefits Act 1979, the State Superannuation Act 1988, the Superannuation (Portability) Act 1989 and the Transport Superannuation Act 1988. 2 Commencement This Act comes into operation on the day after the day on which it receives the Royal Assent. __________________ 2 -- 5 of 30 -- Part 2—Emergency Services Superannuation Act 1986 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 3 PART 2—EMERGENCY SERVICES SUPERANNUATION ACT 1986 3 Amendment of section 3—Definitions In section 3(1) of the Emergency Services Superannuation Act 1986, after the definition of superannuation benefits insert— See: Act No. 94/1986. Reprint No. 6 as at 1 December 2005 and amending Act Nos 97/2005 and 41/2006. LawToday: www. legislation. vic.gov.au "superannuation system has the same meaning as it has in regulation 5.01(1) of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth;". 4 Amendment of section 8—Vacancies on Board For section 8(2) of the Emergency Services Superannuation Act 1986 substitute— "(2) If an elected member dies or otherwise ceases to be a member— (a) the deputy of the elected member under section 9 is to be appointed by the Governor in Council to fill the vacancy; or (b) if there is no deputy of the elected member, the Governor in Council may appoint a person elected in the same manner as that member was elected to fill the vacancy. (3) If a nominated member dies or otherwise ceases to be a member— (a) the Governor in Council is to appoint a person nominated by the Minister to fill the vacancy; or 3 -- 6 of 30 -- Part 2—Emergency Services Superannuation Act 1986 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 5 (b) if the Minister does not nominate a person to fill the vacancy within 28 days, the Governor in Council may appoint a person who is a member of the pool of deputies under section 9A to fill the vacancy. (3A) In subsection (2) and section 9, elected member means a member of the Board elected under section 7(1)(a), 7(1)(b), 7(1)(c) or 7(1)(d) or appointed under section 7(11). (3B) In subsection (3) and section 9A, nominated member means a member of the Board nominated under section 7(1)(e).". 5 Section 9 substituted and section 9A inserted For section 9 of the Emergency Services Superannuation Act 1986 substitute— "9 Deputies—elected members (1) Each elected member is to have a deputy elected in the same manner as the member and appointed by the Governor in Council. (2) The deputy of an elected member is to act in the case of illness, suspension or absence of that member. (3) A deputy of an elected member has while acting as a member the powers and authority of the member. (4) A person may act as the deputy of more than one elected member except for the purposes of forming a quorum or voting on a resolution, provided that the member is elected in the same manner as all of those members. 4 -- 7 of 30 -- Part 2—Emergency Services Superannuation Act 1986 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 6 9A Deputies—nominated members (1) The Minister must appoint 3 persons to constitute a pool of deputies in respect of nominated members to act in the case of illness, suspension or absence of a nominated member. (2) The President of the Board must develop the procedure for determining the manner in which a deputy is to be appointed from the pool of deputies of a member to act in the case of illness, suspension or absence of a particular nominated member. (3) A deputy has while acting as a nominated member the powers and authority of the nominated member. (4) A deputy may act as the deputy of more than one nominated member except for the purposes of forming a quorum or voting on a resolution.". 6 Amendment of section 20A—Contributions At the foot of section 20A(2C)(b) of the Emergency Services Superannuation Act 1986 insert— "Note The effect of paragraph (b) is that, for the purpose of calculating benefit entitlements, the member contributions are taken to be the member contributions that would have been payable if no election had been made.". 7 Amendment of section 20M—Optional contributions during leave of absence In section 20M(a) of the Emergency Services Superannuation Act 1986 omit "for a period not exceeding 7 years if the contributor is on parental leave or not exceeding 2 years if the member is on leave for any other reason except ill health". 5 -- 8 of 30 -- Part 2—Emergency Services Superannuation Act 1986 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 8 8 Amendment of section 21—Definitions for the purposes of contribution splitting In section 21 of the Emergency Services Superannuation Act 1986 insert the following definitions— "maximum splittable amount has the meaning given by regulation 6.40 of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth; payment flag has the meaning given by section 90MD of the Family Law Act 1975 of the Commonwealth; payment split has the meaning given by section 90MD of the Family Law Act 1975 of the Commonwealth; splittable contribution has the meaning given by regulation 6.42 of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth;". 9 Amendment of section 21B—Membership of ESSPLAN For section 21B(10)(c) of the Emergency Services Superannuation Act 1986 substitute— "(c) the rollover or transfer of that person's member's account balance within the superannuation system—". 10 Amendment of section 21I—Members accounts for ESSPLAN (1) In section 21I(2)(d) of the Emergency Services Superannuation Act 1986 for "transferred from a complying superannuation fund" substitute "rolled over, transferred or allotted from within the superannuation system". 6 -- 9 of 30 -- Part 2—Emergency Services Superannuation Act 1986 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 11 (2) For section 21I(3)(f) of the Emergency Services Superannuation Act 1986 substitute— "(f) any amounts rolled over, transferred or allotted within the superannuation system; and". 11 New section 21IA inserted—Contribution splitting After section 21I of the Emergency Services Superannuation Act 1986 insert— "21IA Contribution splitting (1) Subject to subsection (2), this section applies in respect of contributions made in respect of a member on or after 1 July 2006 if the Board— (a) determines to offer the option of contribution splitting to members or a class of members; and (b) publishes a copy of the determination in the Government Gazette. (2) This section does not apply to an interest— (a) in respect of which a payment flag is operating; or (b) that is subject to a payment split. (3) If this section applies, a member may make an application in a financial year to the Board to roll over, transfer or allot from the member's account for the benefit of the member's spouse to the trustee of an account within the superannuation system an amount specified in the application not exceeding the maximum splittable amount of the splittable contributions made by, for, or on behalf of, the member in— 7 -- 10 of 30 -- Part 2—Emergency Services Superannuation Act 1986 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 11 (a) the last financial year that ended before the application; or (b) the financial year in which the application is made if— (i) the member's account has not been rolled over, transferred or allotted within the superannuation system; and (ii) the Board approves the making of the application. (4) An application under subsection (3)— (a) must comply with regulation 6.44 of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth as if that regulation applied to the ESSPLAN Scheme; and (b) must be dealt with in accordance with regulation 6.45 of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth as if that regulation applied to the ESSPLAN Scheme. (5) If this section applies, the Board may accept a roll over, transfer or allotment of a splittable contribution for payment into a member's account, a beneficiary account or a spouse account. (6) Despite section 3, for the purposes of this section, spouse has the meaning given by section 10 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth.". 8 -- 11 of 30 -- Part 2—Emergency Services Superannuation Act 1986 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 12 12 Amendment of section 21JA—Spouse accounts (1) In section 21JA(3)(d) of the Emergency Services Superannuation Act 1986 for "transferred from a complying superannuation fund" substitute "rolled over, transferred or allotted from within the superannuation system". (2) For section 21JA(4)(c) of the Emergency Services Superannuation Act 1986 substitute— "(c) any amounts rolled over, transferred or allotted within the superannuation system; and". (3) For section 21JA(8)(b) of the Emergency Services Superannuation Act 1986 substitute— "(b) roll over, transfer or allot the account balance within the superannuation system; or". 13 Amendment of section 21M—Transfer of preserved benefit (1) Insert the following heading to section 21M of the Emergency Services Superannuation Act 1986— "Roll over or transfer of preserved benefit". (2) In section 21M(1) of the Emergency Services Superannuation Act 1986 for "transferred to another complying superannuation fund and may apply to the Board to make the transfer" substitute "rolled over or transferred within the superannuation system and may apply to the Board to do so". (3) For section 21M(2) of the Emergency Services Superannuation Act 1986 substitute— "(2) Subject to section 27, the Board must roll over or transfer that amount within the superannuation system.". 9 -- 12 of 30 -- Part 2—Emergency Services Superannuation Act 1986 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 14 14 Amendment of section 21N—Transfer to or from new scheme (1) In section 21N(1) of the Emergency Services Superannuation Act 1986 for "to another complying superannuation fund" substitute "within the superannuation system". (2) In section 21N(2) of the Emergency Services Superannuation Act 1986 for "transferred" substitute "rolled over or transferred". (3) In section 21N(3) of the Emergency Services Superannuation Act 1986 for "of another complying superannuation fund" substitute "from within the superannuation system". 15 Amendment of section 21O—Transfer of benefits to other fund (1) Insert the following heading to section 21O of the Emergency Services Superannuation Act 1986— "Roll over or transfer of benefits to other fund". (2) In section 21O(1)(b) of the Emergency Services Superannuation Act 1986 for "of another complying superannuation fund" substitute "within the superannuation system". (3) In section 21O(1) of the Emergency Services Superannuation Act 1986 for "transferred to that complying superannuation fund and may apply to the Board to make the transfer" substitute "rolled over or transferred within the superannuation system and may apply to the Board to do so". (4) For section 21O(2) of the Emergency Services Superannuation Act 1986 substitute— "(2) Subject to section 27, the Board must roll over or transfer that amount within the superannuation system.". 10 -- 13 of 30 -- Part 2—Emergency Services Superannuation Act 1986 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 16 16 Amendment of section 26—Assignment or charging of interest (1) In section 26(1) of the Emergency Services Superannuation Act 1986 after "(2)" insert "and subsection (3)". (2) After section 26(2) of the Emergency Services Superannuation Act 1986 insert— "(3) If on the death of a member or contributor the Board is satisfied that there is no personal representative, the Board may pay any money payable to the member or contributor or to his or her estate to a person the Board considers appropriate in the circumstances. (4) For the purposes of subsection (3), personal representative has the same meaning as it has in section 5(1) of the Administration and Probate Act 1958.". __________________ 11 -- 14 of 30 -- Part 3—Government Superannuation Act 1999 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 17 PART 3—GOVERNMENT SUPERANNUATION ACT 1999 17 Amendment of section 42—MTA Superannuation Fund At the foot of section 42(13)(b) of the Government Superannuation Act 1999 insert— See: Act No. 8/1999. Reprint No. 2 as at 1 December 2005. LawToday: www. legislation. vic.gov.au "Note The effect of paragraph (b) is that, for the purpose of calculating benefit entitlements, the member contributions are taken to be the member contributions that would have been payable if no election had been made.". __________________ 12 -- 15 of 30 -- Part 4—State Employees Retirement Benefits Act 1979 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 18 PART 4—STATE EMPLOYEES RETIREMENT BENEFITS ACT 1979 18 Amendment of section 2—Definitions In section 2(1) of the State Employees Retirement Benefits Act 1979, after the definition of State Superannuation Fund insert— See: Act No. 9363. Reprint No. 6 as at 1 December 2005 and amending Act Nos 97/2005 and 24/2006. LawToday: www. legislation. vic.gov.au "superannuation system has the same meaning as it has in regulation 5.01(1) of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth;". 19 Amendment of section 23—Member contribution rates At the foot of section 23(2C)(b) of the State Employees Retirement Benefits Act 1979 insert— "Note The effect of paragraph (b) is that, for the purpose of calculating benefit entitlements, the member contributions are taken to be the member contributions that would have been payable if no election had been made.". 20 Amendment of section 24—Contributions deducted from salary In section 24(6) of the State Employees Retirement Benefits Act 1979 omit "not exceeding 7 years if the member is on parental leave or not exceeding 2 years if the member is on leave for any other reason except ill-health". 13 -- 16 of 30 -- Part 4—State Employees Retirement Benefits Act 1979 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 21 21 Amendment of section 34AB—Exempt officers For section 34AB(3)(b) of the State Employees Retirement Benefits Act 1979 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the member.". 22 Amendment of section 37—Resignation benefits For section 37(1B)(b) of the State Employees Retirement Benefits Act 1979 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the member.". 23 Amendment of section 38—Deferred retirement benefits For section 38(2A)(b) of the State Employees Retirement Benefits Act 1979 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the member.". 24 Amendment of section 70A—Assignment or charging of interest (1) In section 70A(1) of the State Employees Retirement Benefits Act 1979 after "(2)" insert "and subsection (3)". (2) After section 70A(2) of the State Employees Retirement Benefits Act 1979 insert— "(3) If on the death of a member the Board is satisfied that there is no personal representative, the Board may pay any money payable to the member or to his or her estate to a person the Board considers appropriate in the circumstances. 14 -- 17 of 30 -- Part 4—State Employees Retirement Benefits Act 1979 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 25 (4) For the purposes of subsection (3), personal representative has the same meaning as it has in section 5(1) of the Administration and Probate Act 1958.". 25 Amendment of section 75—Conversion option to apply to transferees who become exempt officers (1) After section 75(3) of the State Employees Retirement Benefits Act 1979 insert— "(3A) An employee who— (a) elected to transfer to the State Superannuation Fund or the Transport Superannuation Fund; and (b) becomes an exempt officer on or after attaining the age of 65 years— is entitled to convert not more than 50 per cent of his or her lump sum retirement benefit under the State Superannuation Act 1988 or the Transport Superannuation Act 1988 to a pension in accordance with the factors specified in the Schedule.". (2) In section 75(4) of the State Employees Retirement Benefits Act 1979 after "(3)" insert "or subsection (3A)". __________________ 15 -- 18 of 30 -- Part 5—State Superannuation Act 1988 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 26 PART 5—STATE SUPERANNUATION ACT 1988 26 Amendment of section 3—Definitions In section 3(1) of the State Superannuation Act 1988, in the definition of salary, paragraph (c) is repealed. See: Act No. 50/1988. Reprint No. 6 as at 1 December 2005 and amending Act Nos 97/2005 and 24/2006. LawToday: www. legislation. vic.gov.au 27 Amendment of section 3—Definitions In section 3(1) of the State Superannuation Act 1988, after the definition of Superannuation Act 1958 insert— "superannuation system has the same meaning as it has in regulation 5.01(1) of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth;". 28 Amendment of section 27—Original scheme members At the foot of section 27(5)(b) of the State Superannuation Act 1988 insert— "Note The effect of paragraph (b) is that, for the purpose of calculating benefit entitlements, the member contributions are taken to be the member contributions that would have been payable if no election had been made.". 16 -- 19 of 30 -- Part 5—State Superannuation Act 1988 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 29 29 Amendment of section 28—Revised scheme members At the foot of section 28(1C)(b) of the State Superannuation Act 1988 insert— "Note The effect of paragraph (b) is that, for the purpose of calculating benefit entitlements, the member contributions are taken to be the member contributions that would have been payable if no election had been made.". 30 Amendment of section 47—Provisions applying to deferred pensions (1) For section 47(10)(b) of the State Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the revised scheme member.". (2) For section 47(10A)(b) of the State Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the person.". 31 Amendment of section 49—Election in respect of leave of absence without pay In section 49(1) of the State Superannuation Act 1988 omit "for a period not exceeding 7 years if the member is on parental leave or not exceeding 2 years if the member is on leave for any other reason except ill-health". 17 -- 20 of 30 -- Part 5—State Superannuation Act 1988 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 32 32 Amendment of section 50—New scheme members At the foot of section 50(4C)(b) of the State Superannuation Act 1988 insert— "Note The effect of paragraph (b) is that, for the purpose of calculating benefit entitlements, the member contributions are taken to be the member contributions that would have been payable if no election had been made.". 33 Amendment of section 53—Benefit on death of new scheme member before retirement (1) After section 53(5) of the State Superannuation Act 1988 insert— "(5A) If subsection (3), (4), (4A) or (5) applies and there are any dependants, the Board may in its discretion pay the whole or part of the benefit to the personal representative of the new scheme member.". (2) After section 53(8) of the State Superannuation Act 1988 insert— "(9) For the purposes of this section, personal representative has the same meaning as it has in section 5(1) of the Administration and Probate Act 1958.". 34 Amendment of section 58—Benefit on resignation For section 58(4)(b) of the State Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the new scheme member.". 18 -- 21 of 30 -- Part 5—State Superannuation Act 1988 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 35 35 Amendment of section 59—Intermittent service In section 59(1) of the State Superannuation Act 1988 for "for a period not exceeding— (a) 7 years, if the member is on parental leave; or (b) 2 years, if the member is on leave for any other reason except ill-health."— substitute "for the period of the leave.". 36 Amendment of section 61—Transfer from revised scheme to new scheme For section 61(8)(b) of the State Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the former revised scheme member.". 37 Amendment of section 61A—Exempt officers (1) For section 61A(4)(b) of the State Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the revised scheme member.". (2) For section 61A(5)(b) of the State Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the new scheme member.". 19 -- 22 of 30 -- Part 5—State Superannuation Act 1988 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 38 38 Amendment of section 66—Officers on secondment or leave of absence In section 66 of the State Superannuation Act 1988 for "for a period not exceeding— (a) 7 years, if the member is on parental leave; or (b) 2 years, if the member is on leave for any other reason except ill-health."— substitute "for the period of the leave.". 39 Amendment of section 69—Members of approved superannuation schemes For section 69(4A)(b) of the State Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the contributor.". 40 Amendment of section 88—Assignment or charging of interest (1) In section 88(1) of the State Superannuation Act 1988 after "(2)" insert "and subsection (3)". (2) After section 88(2) of the State Superannuation Act 1988 insert— "(3) If on the death of a member the Board is satisfied that there is no personal representative, the Board may pay any money payable to the member or to his or her estate to a person the Board considers appropriate in the circumstances. (4) For the purposes of subsection (3), personal representative has the same meaning as it has in section 5(1) of the Administration and Probate Act 1958.". 20 -- 23 of 30 -- Part 5—State Superannuation Act 1988 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 41 41 Amendment of section 94—Transfer of members of MWCESF (1) For section 94(1E)(b) of the State Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the member.". (2) At the foot of section 94(8)(b) of the State Superannuation Act 1988 insert— "Note The effect of paragraph (b) is that, for the purpose of calculating benefit entitlements, the member contributions are taken to be the member contributions that would have been payable if no election had been made.". 42 Amendment of section 101—Provisions relating to transferred beneficiaries For section 101(5)(b) of the State Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the beneficiary.". __________________ 21 -- 24 of 30 -- Part 6—Superannuation (Portability) Act 1989 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 43 PART 6—SUPERANNUATION (PORTABILITY) ACT 1989 43 Amendment of section 3—Definitions In section 3(1) of the Superannuation (Portability) Act 1989, after the definition of superannuation scheme insert— See: Act No. 14/1989. Reprint No. 5 as at 1 December 2005. LawToday: www. legislation. vic.gov.au "superannuation system has the same meaning as it has in regulation 5.01(1) of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth;". 44 Amendment of section 5—Entitlement to deferred retirement benefit For section 5(2A)(b) of the Superannuation (Portability) Act 1989 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the member.". 45 Amendment of section 7—Provisions relating to payment of benefits For section 7(7A)(b) of the Superannuation (Portability) Act 1989 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the person.". __________________ 22 -- 25 of 30 -- Part 7—Transport Superannuation Act 1988 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 46 PART 7—TRANSPORT SUPERANNUATION ACT 1988 46 Amendment of section 3—Definitions In section 3(1) of the Transport Superannuation Act 1988, after the definition of State Superannuation Fund insert— See: Act No. 33/1988. Reprint No. 5 as at 1 December 2005 and amending Act No 97/2005. LawToday: www. legislation. vic.gov.au "superannuation system has the same meaning as it has in regulation 5.01(1) of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth;". 47 Amendment of section 28—Contributions by members At the foot of section 28(3C)(b) of the Transport Superannuation Act 1988 insert— "Note The effect of paragraph (b) is that, for the purpose of calculating benefit entitlements, the member contributions are taken to be the member contributions that would have been payable if no election had been made.". 48 Amendment of section 30—Benefit on death before retirement After section 30(2) of the Transport Superannuation Act 1988 insert— "(2A) If subsection (1) or (2) applies and there are any dependants, the Board may in its discretion pay the whole or part of the benefit to the personal representative of the member. (2B) For the purposes of subsection (2A), personal representative has the same meaning as it has in section 5(1) of the Administration and Probate Act 1958.". 23 -- 26 of 30 -- Part 7—Transport Superannuation Act 1988 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 49 49 Amendment of section 31—Benefit on retirement through disability After section 31(4) of the Transport Superannuation Act 1988 insert— "(4A) If subsection (4) applies and there are any dependants, the Board may in its discretion pay the whole or part of the benefit to the personal representative of the former member. (4B) For the purposes of subsection (4A), personal representative has the same meaning as it has in section 5(1) of the Administration and Probate Act 1958.". 50 Amendment of section 34A—Exempt officers For section 34A(3)(b) of the Transport Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the member.". 51 Amendment of section 35—Benefit on resignation (1) For section 35(4A)(b) of the Transport Superannuation Act 1988 substitute— "(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the member.". (2) After section 35(5) of the Transport Superannuation Act 1988 insert— "(6) If subsection (5)(a) applies and there are any dependants, the Board may in its discretion pay the whole or part of the benefit to the personal representative of the member. 24 -- 27 of 30 -- Part 7—Transport Superannuation Act 1988 Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 52 (7) For the purposes of subsection (6), personal representative has the same meaning as it has in section 5(1) of the Administration and Probate Act 1958.". 52 Amendment of section 37—Intermittent service In section 37(1) of the Transport Superannuation Act 1988 for "for a period not exceeding— (a) 7 years, if the member is on parental leave; or (b) 2 years, if the member is on leave for any other reasons except ill-health."— substitute "for the period of the leave.". 53 Amendment of section 49—Assignment or charging of interest (1) In section 49(1) of the Transport Superannuation Act 1988 after "(2)" insert "and subsection (3)". (2) After section 49(2) of the Transport Superannuation Act 1988 insert— "(3) If on the death of a member or former member the Board is satisfied that there is no personal representative, the Board may pay any money payable to the member or former member or to his or her estate to a person the Board considers appropriate in the circumstances. (4) For the purposes of subsection (3), personal representative has the same meaning as it has in section 5(1) of the Administration and Probate Act 1958.". __________________ 25 -- 28 of 30 -- Part 8—Repeal of Amending Act Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 s. 54 PART 8—REPEAL OF AMENDING ACT 54 Repeal of Act This Act is repealed on the first anniversary of its commencement. ═══════════════ 26 -- 29 of 30 -- Superannuation Legislation Amendment (Contribution Splitting and Other Matters) Act 2007 No. 37 of 2007 Endnotes ENDNOTES † Minister's second reading speech— Legislative Assembly: 23 May 2007 Legislative Council: 19 July 2007 The long title for the Bill for this Act was "A Bill for an Act to amend the Emergency Services Superannuation Act 1986, the Government Superannuation Act 1999, the State Employees Retirement Benefits Act 1979, the State Superannuation Act 1988, the Superannuation (Portability) Act 1989 and the Transport Superannuation Act 1988 and for other purposes." 27 -- 30 of 30 --