Retirement Benefits Act 1993

Retirement Benefits Act 1993

[The long title Substituted by No. 91 of 1999, s. 66, Applied:15 Dec 1999] An Act to provide for superannuation benefits for persons employed, or appointed or elected to positions, in the public sector and for the spouses and beneficiaries of those persons in certain cases and for other purposes

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

PART 1 - Preliminary

1.   Short title

This Act may be cited as the Retirement Benefits Act 1993 .

2.   Commencement

(1)  Sections 1 , 28 , 29 , 30 (2) and 33 and this section and Schedule 7 commence on the day on which this Act receives the Royal Assent.

(2)  [Section 2 Subsection (2) amended by No. 40 of 1996, s. 4 and Sched. 2 ]If, by notice published in the Gazette on or before 1 April 1994, the Minister declares that he is satisfied that the SAF Agreement will not be in force on 1 July 1994 except for the purposes of section 15 (d) , the remaining provisions of this Act commence on 1 July 1994.

(3)  If the remaining provisions of this Act have not commenced as provided by subsection (2) , those provisions commence on a day to be proclaimed.

3.   Interpretation

(1)  [Section 3 Subsection (1) amended by No. 5 of 1995, s. 4 ][Section 3 Subsection (1) amended by No. 40 of 1996, s. 4 and Sched. 2 ]In this Act, unless the contrary intention appears –[Section 3 Subsection (1) amended by No. 52 of 2002, s. 5, Applied:27 Nov 2002]

[Section 3 Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] accumulation scheme means the Tasmanian Accumulation Scheme established under the Public Sector Superannuation Reform Act 1999 ;

Actuary means a person or organization appointed under the regulations as the Actuary for the purposes of this Act;

[Section 3 Subsection (1) amended by No. 59 of 2004, s. 15, Applied:17 Dec 2004] Agency means –

(a) a Government department or a statutory authority or other organisation specified in column 1 of Part 1 or Part 2 of Schedule 1 to the State Service Act 2000 ; or

(b) a prescribed authority that is not such an organisation; or

(c) the controlling authority of any industry or undertaking carried on by or on behalf of the State; or

(d) where the services of a prescribed authority are transferred to another person or organisation or another prescribed authority, the person, organisation or authority responsible for payment of contributions to the Fund in respect of –

(i) contributors; or

(ii) other persons who were eligible employees within the meaning of the regulations as in force before the commencement of Part 5 of the Public Sector Superannuation (Miscellaneous Amendments) Act (No. 2) 2004 ;

Board means the Retirement Benefits Fund Board continued in existence under section 7 ;

[Section 3 Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] complying superannuation scheme means a complying superannuation fund as provided by the law of the Commonwealth;

[Section 3 Subsection (1) amended by No. 18 of 1999, s. 39, Applied:14 May 1999]

contravene includes fail to comply with;

contributions means contributions paid or payable to the Fund under the regulations, less any amount deducted from those contributions as provided in the regulations;

[Section 3 Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] [Section 3 Subsection (1) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005]

[Section 3 Subsection (1) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] contributory scheme means the superannuation arrangements provided by Part 5 of the Retirement Benefits Regulations 2005 ;

[Section 3 Subsection (1) amended by No. 52 of 2002, s. 5, Applied:27 Nov 2002] first commencement day means 1 July 1994;

functions includes duties;

[Section 3 Subsection (1) amended by No. 18 of 1999, s. 39, Applied:14 May 1999]

[Section 3 Subsection (1) amended by No. 18 of 1999, s. 39, Applied:14 May 1999] Fund means the Retirement Benefits Fund continued in existence under section 11 and includes all money received by the Board and all subfunds, accounts, investments, policies of insurance and other assets in which that money is from time to time invested;

member means a member of the Scheme;

[Section 3 Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] [Section 3 Subsection (1) amended by No. 106 of 2001, s. 4, Applied:05 Dec 2001]

[Section 3 Subsection (1) amended by No. 106 of 2001, s. 4, Applied:05 Dec 2001] member of a board includes –

(a) in respect of a statutory authority, any chairman, president, deputy, member, or alternate, substitute or acting member, of the board or the governing body of the statutory authority; and

(b) a director of a State-owned company;

[Section 3 Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] non-contributory scheme means the scheme established under Part 5 of the Retirement Benefits Regulations 1994 ;

[Section 3 Subsection (1) amended by No. 59 of 2004, s. 15, Applied:17 Dec 2004] prescribed authority means an authority, State-owned company, Agency or part of an Agency to which the regulations apply;

PSRB Trust means the Parliamentary Superannuation and Retiring Benefits Trust;

regulations means regulations made and in force under this Act;

repealed Act means the Retirement Benefits Act 1982 ;

[Section 3 Subsection (1) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] RSA means a Retirement Savings Account within the meaning of the Retirement Savings Accounts Act 1997 of the Commonwealth;

SAF Agreement means the agreement referred to in section 71A (1) of the repealed Act , including that agreement as amended or varied from time to time –

(a) in accordance with clause 41.1 of that agreement ; or

(b) by supplementary agreement approved by the Governor in accordance with regulations made under the repealed Act ;

[Section 3 Subsection (1) amended by No. 52 of 2002, s. 5, Applied:27 Nov 2002]

Scheme means the Retirement Benefits Fund Scheme established under section 5 ;

[Section 3 Subsection (1) amended by No. 52 of 2002, s. 5, Applied:27 Nov 2002] second commencement day means the day fixed under section 2(1) of the Retirement Benefits (Parliamentary Superannuation Trustee Arrangements and Miscellaneous Amendments) Act 2002 ;

[Section 3 Subsection (1) amended by No. 106 of 2001, s. 4, Applied:05 Dec 2001] State-owned company means a company incorporated under the Corporations Act which is controlled by –

(a) the Crown; or

(b) a Government Business Enterprise; or

(c) a statutory authority; or

(d) another company which is itself controlled by an entity referred to in paragraph (a) , (b) or (c) ;

[Section 3 Subsection (1) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] [Section 3 Subsection (1) amended by No. 106 of 2001, s. 4, Applied:05 Dec 2001]

[Section 3 Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] statutory authority means a body or authority, whether incorporated or not, which is established or constituted by or under an Act or under the Royal Prerogative, where the body or authority, or the governing body of which, wholly or partly comprises a person or persons appointed by the Governor, a Minister or another statutory authority and includes the governing body of any such statutory authority;

Trust means the Retirement Benefits Fund Investment Trust as in existence under this Act on 30 June 1995;

[Section 3 Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] [Section 3 Subsection (1) amended by No. 52 of 2002, s. 5, Applied:27 Nov 2002]

[Section 3 Subsection (1) amended by No. 52 of 2002, s. 5, Applied:27 Nov 2002] Trust Deed means the Trust Deed referred to in section 7 of the Public Sector Superannuation Reform Act 1999 as that Deed is in force from time to time;

[Section 3 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 3 Subsection (1) amended by No. 52 of 2002, s. 5, Applied:27 Nov 2002] [Section 3 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 3 Subsection (1) amended by No. 52 of 2002, s. 5, Applied:27 Nov 2002]

(2)  [Section 3 Subsection (2) amended by No. 52 of 2002, s. 5, Applied:27 Nov 2002] For the purposes of this Act, any amendments to the Retirement Benefits Act 1982 that, but for this subsection, have not commenced before the first commencement day are to be taken as having commenced immediately before that day.

(3)  [Section 3 Subsection (3) inserted by No. 106 of 2001, s. 4, Applied:05 Dec 2001] For the purposes of the definition of "State-owned company" in subsection (1) , the provisions of the Corporations Act relating to control are taken to apply as if the Crown, Government Business Enterprise or statutory authority, as the case may be, were a corporation under that Act.

4.   Act binds Crown

This Act binds the Crown in right of Tasmania and, so far as the legislative power of Parliament permits, in all its other capacities.

5.   Objects of Act

[Section 5 Substituted by No. 91 of 1999, s. 67, Applied:15 Dec 1999]

(1)  The objects of this Act are to provide a superannuation scheme for –

(a) a person who after 1 July 1999 is first appointed as Governor; and

(b) [Section 5 Subsection (1) amended by No. 52 of 2002, s. 6, Applied:01 Jan 2003] a person who is, or has been, elected as a member of Parliament; and

(c) [Section 5 Subsection (1) amended by No. 55 of 2007, Sched. 1, Applied:01 Mar 2008] a person who after 1 July 1999 is appointed as a judge or the Associate Judge of the Supreme Court; and

(d) a person who after 1 July 1999 is appointed as the Solicitor-General or the Director of Public Prosecutions; and

(e) [Section 5 Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] [Section 5 Subsection (1) amended by No. 59 of 2004, s. 16, Applied:17 Dec 2004] persons employed by the State or statutory authorities, but not including a member of a board; and

(ea) [Section 5 Subsection (1) amended by No. 59 of 2004, s. 19, Applied:15 Jun 2005] persons employed by a joint authority, State-owned company, Agency or part of an Agency as provided by a notice published by the Minister under subsection (1A) ; and

(f) [Section 5 Subsection (1) amended by No. 52 of 2002, s. 6, Applied:01 Jan 2003] [Section 5 Subsection (1) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 5 Subsection (1) amended by No. 59 of 2004, s. 19, Applied:15 Jun 2005] in certain cases, other persons entitled to a benefit through any person referred to in paragraph (a) , (b) , (c) , (d) , (e) or (ea) .

(1A)  [Section 5 Subsection (1A) inserted by No. 59 of 2004, s. 19, Applied:15 Jun 2005] The Minister may, by notice published in the Gazette, declare that this Act applies to –

(a) a joint authority under section 30 of the Local Government Act 1993 ; or

(b) a State-owned company; or

(c) a specified Agency or part of an Agency which maintains its own superannuation provisions for all or any of its employees; or

(d) the employees or former employees of any such authority, company, Agency or part of an Agency or a class of any such employees or any such former employees; or

(e) [Section 5 Subsection (1A) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] any other specified body or organisation or the employees or former employees of any such body or organisation.

(1B)  [Section 5 Subsection (1B) inserted by No. 59 of 2004, s. 19, Applied:15 Jun 2005] A notice under subsection (1A) may amend or revoke a notice made under regulation 3(5) of the Retirement Benefits Regulations 1994 before the commencement of Part 6 of the Public Sector Superannuation (Miscellaneous Amendments) Act (No. 2) 2004 .

(2)  Nothing in subsection (1) limits the effect of any other Act which confers a right on any person to make contributions, or to transfer a lump sum benefit, to an investment account or an allocated pension account established by the regulations.

(3)  The scheme is to be known as the Retirement Benefits Fund Scheme.

6.   Application of Commonwealth superannuation principles

[Section 6 Substituted by No. 40 of 1996, s. 3 and Sched. 1 ][Section 6 Substituted by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] The Board must comply with the principles outlined in the Heads of Government Agreement made on 28 May 1996 between the Commonwealth and Tasmania, as amended from time to time, as if those principles were included in this Act.

PART 2 - Administration

7.   Continuation of Retirement Benefits Fund Board

(1)  The Board continued in existence under the repealed Act with the corporate name of "the Retirement Benefits Fund Board" continues in existence as a body corporate with that corporate name notwithstanding any change in the membership of the Board provided for by this Act.

(2)  The Board –

(a) has perpetual succession; and

(b) is to have a common seal; and

(c) may take proceedings, and be proceeded against, in its corporate name; and

(d) may acquire, hold and dispose of real and personal property; and

(e) has the functions imposed, and the powers conferred, on it by or under this or any other Act; and

(f) may do, and be subject to, all other things that bodies corporate may, by law, do or be subject to, that are necessary for, or conducive, incidental or related to, the discharge of its functions and the exercise of its powers.

(3)  [Section 7 Subsection (3) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] The common seal of the Board is not to be attached to a document except by resolution of the Board and every sealing is to be authenticated by the signature of 2 members of the Board and the chief executive officer of the Board appointed under the regulations.

(4)  All courts, judges and persons acting judicially must take judicial notice of the common seal of the Board affixed to a document and must, unless the contrary is established, presume that the seal was duly affixed.

7A.   Power of Board to establish subfunds

[Section 7A Inserted by No. 52 of 2002, s. 7, Applied:27 Nov 2002]

(1)  The Board may establish and maintain within the Fund such subfunds as, in the opinion of the Board, are necessary or convenient for the administration of this Act or the Trust Deed but must ensure that, in respect of each subfund –

(a) there are separately identifiable assets and beneficiaries; and

(b) each beneficiary of that subfund has an interest only in the assets of that subfund and not in the other assets of the Fund; and

(c) there is no transfer of assets, benefits or money between that subfund and another subfund unless there is a transfer of a corresponding beneficial interest; and

(d) the insurance and administration costs levied on that subfund are attributable only to that subfund.

(2)  Without limiting subsection (1) , the Board may establish separate asset portfolios for each subfund, comprising assets of the Fund allocated by the Board, all of which are to be invested for the purposes of the Fund.

(3)  For the purpose of investment and allocating the investment earnings of the Fund or for related purposes, the Board –

(a) may treat 2 or more subfunds as one subfund; and

(b) may treat one or more subfunds as being invested as part of one or more asset portfolios; and

(c) must, if so required, determine the parts of each subfund which are to be treated as being invested in one or more asset portfolios.

8.   Constitution of Board

(1)  [Section 8 Subsection (1) substituted by No. 19 of 1999, Sched. 1, Applied:15 May 1999] The Board consists of 7 members, including a President and Deputy President of the Board, to be appointed by the Governor in accordance with the regulations.

(2)  [Section 8 Subsection (2) amended by No. 40 of 1996, s. 4 and Sched. 2 ][Section 8 Subsection (2) omitted by No. 19 of 1999, Sched. 1, Applied:15 May 1999] .  .  .  .  .  .  .  .  

(3)  [Section 8 Subsection (3) omitted by No. 19 of 1999, Sched. 1, Applied:15 May 1999] .  .  .  .  .  .  .  .  

(4)  Schedule 1 has effect with respect to the members of the Board.

(5)  Schedule 2 has effect with respect to meetings of the Board.

9.   Suspension and removal of members of Board

(1)  [Section 9 Subsection (1) amended by No. 18 of 1999, s. 40, Applied:14 May 1999] The Governor may suspend a member of the Board from office for misconduct, incompetence or inefficient administration or on the receipt of a recommendation to that effect from the Australian Prudential Regulation Authority.

(2)  [Section 9 Subsection (2) amended by No. 40 of 1996, s. 4 and Sched. 2 ]Within the first 7 sitting days of each House of Parliament respectively occurring next after a suspension is imposed under subsection (1) , the Minister must cause to be laid on the table of each House a full statement of the grounds on which the suspension was imposed together with any supporting evidence.

(3)  If, within the first 21 sitting days of each House of Parliament respectively occurring next after a statement under subsection (2) is laid on the table of each House, each House by resolution declares that the member should be removed from office, the Governor must remove the member from office accordingly.

(4)  If, after a statement under subsection (2) is laid on the table of each House, either House does not make a declaration as provided in subsection (3) , the member is restored to office.

(5)  [Section 9 Subsection (5) amended by No. 18 of 1999, s. 40, Applied:14 May 1999] [Section 9 Subsection (5) amended by No. 40 of 1996, s. 4 and Sched. 2 ]If the Governor suspends or removes a member or members of the Board, the Governor must, on the recommendation of the Minister having regard to the views of the Australian Prudential Regulation Authority, appoint an acting member until the vacancy has been filled.

10.   Functions of Retirement Benefits Fund Board

[Section 10 Subsection (3) amended by No. 40 of 1996, s. 4 and Sched. 2 ]

(1)  It is the duty of the Board to administer and manage the Scheme in accordance with this Act and any other applicable law of the State or the Commonwealth for the purpose of providing benefits on retirement and certain other contingencies as may be specified in the regulations for present and future members of the Scheme and their beneficiaries or representatives.

(2)  The Board is responsible for the management and control of the Scheme and is to act as sole trustee of the Fund.

(3)  [Section 10 Subsection (3) amended by No. 5 of 1995, s. 5 ]In the administration of this Act, the Board –

(a) is to have such functions, powers and duties as may be prescribed by the regulations; and

(b) must provide the Minister with timely and accurate advice as to the operation of the Scheme; and

(c) must protect information, the disclosure of which might adversely affect the financial position or the commercial or other operations of the Board; and

(d) is not subject to section 5 of the Trustee Act 1898 ; and

(e) must exercise a fiduciary responsibility over all the assets, investments and property of the Fund; and

(f) must have regard to the superannuation and employment policies of the Government; and

(g) must take possession of all money and other property vested in it under this Act.

(3A)  [Section 10 Subsection (3A) inserted by No. 5 of 1995, s. 5 ][Section 10 Subsection (3A) omitted by No. 52 of 2002, s. 8, Applied:01 Jan 2003] .  .  .  .  .  .  .  .  

(4)  [Section 10 Subsection (4) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] [Section 10 Subsection (4) amended by No. 5 of 1995, s. 5 ]The Board may engage on contract or employ any person or organization other than the chief executive officer for the purpose of providing it with such advice as may be necessary in connection with its functions, powers and duties or otherwise in the administration of this Act.

(5)  [Section 10 Subsection (5) inserted by No. 19 of 1999, Sched. 1, Applied:15 May 1999] The Board has the functions and duties assigned to it under the Public Sector Superannuation Reform Act 1999 .

11.   Continuation of Retirement Benefits Fund

(1)  The Fund continued in existence under the repealed Act by the name of "the Retirement Benefits Fund" continues in existence under the same name.

(2)  All contributions, payments, amounts, money and income payable under the regulations are to be paid into the Fund.

(3)  The Board must pay out of the Fund all amounts prescribed by the regulations or as otherwise required by law.

(4)  The Board and the Fund are liable to taxation imposed by or under any law of the State.

12.   Power of delegation of Board

(1)  [Section 12 Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] [Section 12 Subsection (1) amended by No. 5 of 1995, s. 6 ][Section 12 Subsection (1) substituted by No. 26 of 2005, Sched. 2, Applied:24 Jun 2005] The Board may, by an instrument of delegation under its common seal, delegate to the chairperson, a member or officer of the Board, including the chief executive officer, or a person or organisation that, under the regulations, is engaged on contract or employed by the Board any power or duty of the Board under –

(a) this Act; or

(b) any other Act; or

(c) any instrument having effect under this Act or any other Act –

other than this power of delegation.

(2)  A duty or power, the performance or exercise of which has been delegated under this section, may, while the delegation remains unrevoked, be performed or exercised from time to time in accordance with the terms of the delegation.

(3)  A delegation made under this section may be made subject to such conditions or limitations as to the performance or exercise of any of the functions or powers delegated, or as to time or circumstance, as are specified in the instrument.

(4)  Notwithstanding any delegation, the Board may continue to perform or exercise all or any of the functions or powers delegated.

(5)  Any act or thing done by, or to, a delegate while acting in the exercise of a delegation under this section has the same force and effect as if the act or thing had been done by, or to, the Board and is taken to have been done by, or to, the Board.

(6)  An instrument purporting to be signed by a delegate of the Board in his or her capacity as such a delegate is, in all courts and before all persons acting judicially, to be received in evidence as if it were an instrument executed by the Board under seal and, until the contrary is proved, is taken to be an instrument signed by a delegate of the Board under this section.

13.   Appropriation and Minister's guarantee

(1)  In this section, Agency means –

(a) [Section 13 Subsection (1) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] an Agency or branch of an Agency within the meaning of the State Service Act 2000 ; or

(b) the controlling authority of any industry or undertaking carried on by or on behalf of the State; or

(c) [Section 13 Subsection (1) amended by No. 106 of 2001, s. 5, Applied:05 Dec 2001] where the services of a statutory authority are transferred to another person or organization, the person or organization responsible for payment of contributions to the Fund in respect of contributors.

(2)  [Section 13 Subsection (2) amended by No. 40 of 1996, s. 4 and Sched. 2 ]A contribution that is required under the regulations to be paid by the Minister is to be paid by the Minister out of the Consolidated Fund without further appropriation than this section.

(3)  A contribution referred to in subsection (2) is to be paid at such times and in such manner as are prescribed in the regulations.

(4)  [Section 13 Subsection (4) amended by No. 40 of 1996, s. 4 and Sched. 2 ]The regulations may provide for a guarantee to be given by the Minister with respect to –

(a) the payment of pensions and lump sum benefits under this Act; and

(b) [Section 13 Subsection (4) amended by No. 106 of 2001, s. 5, Applied:05 Dec 2001] the payment to the Fund of contributions required to be made by an Agency or statutory authority.

14.   Actuarial investigation of Fund

The Actuary must undertake such investigations into the state and sufficiency of the Fund at such times and on such conditions as are prescribed in the regulations.

15.   

[Section 15 Repealed by No. 52 of 2002, s. 9, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

16.   

[Section 16 Repealed by No. 52 of 2002, s. 9, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

17.   Savings

This Part has effect notwithstanding the repeal of the Retirement Benefits Act 1982 effected by this Act.

PART 3 - Investment Arrangements

18.   

[Section 18 Repealed by No. 5 of 1995, s. 7 ].  .  .  .  .  .  .  .  

19.   

[Section 19 Repealed by No. 5 of 1995, s. 7 ].  .  .  .  .  .  .  .  

20.   

[Section 20 Repealed by No. 5 of 1995, s. 7 ].  .  .  .  .  .  .  .  

21.   

[Section 21 Repealed by No. 5 of 1995, s. 7 ].  .  .  .  .  .  .  .  

22.   

[Section 22 Repealed by No. 5 of 1995, s. 7 ].  .  .  .  .  .  .  .  

23.   

[Section 23 Repealed by No. 5 of 1995, s. 7 ].  .  .  .  .  .  .  .  

24.   

[Section 24 Repealed by No. 5 of 1995, s. 7 ].  .  .  .  .  .  .  .  

25.   

[Section 25 Repealed by No. 5 of 1995, s. 7 ][Section 25 Inserted by No. 18 of 1999, s. 41, Applied:14 May 1999] [Section 25 Repealed by No. 52 of 2002, s. 10, Applied:01 Jan 2003] .  .  .  .  .  .  .  .  

26.   Investment of Fund

(1)  In this section –

provident fund means so much of the Fund as represents the total of the amounts which in accordance with the regulations stand to the credit of the basic contributions accounts of provident fund contributors;

provident fund contributor means a person who has made an election in accordance with section 61BA of the repealed Act or who is taken, under subsection (2) of that section , to have made an election in accordance with that section.

(2)  [Section 26 Subsection (2) amended by No. 52 of 2002, s. 11, Applied:27 Nov 2002] The regulations may provide for the investment of any money held by the Board on the first commencement day and any money subsequently received by the Board for the purposes of this Act.

(3)  [Section 26 Subsection (3) substituted by No. 5 of 1995, s. 8 ]The Board must, so far as is practicable, invest all money that is paid to it under this Act and that is not required in the administration of this Act.

(4)  [Section 26 Subsection (4) amended by No. 5 of 1995, s. 8 ]The Board may invest money standing to the credit of the provident fund with –

(a) the Tasmanian Public Finance Corporation; or

(b) another investment manager approved by the Board after consultation with the Police Association of Tasmania.

(5)  [Section 26 Subsection (5) amended by No. 5 of 1995, s. 8 ]The Board may –

(a) invest any money paid to it under this Act; or

(b) vary or dispose of any such investment –

in any manner in which it thinks fit.

(6)  [Section 26 Subsection (6) amended by No. 5 of 1995, s. 8 ]The powers of the Board under this section extend to any amount comprised in the provident fund.

PART 4 - Miscellaneous and Supplemental

27.   Audit

[Section 27 Amended by No. 5 of 1995, s. 9 ][Section 27 Amended by No. 50 of 2008, Sched. 1, Applied:01 Mar 2009] The Board is subject to the Audit Act 2008 .

27A.   Indemnity for members and officers of Board

[Section 27A Inserted by No. 52 of 2002, s. 12, Applied:27 Nov 2002]

(1)  In this section,

officer means a person engaged on contract or employed by the Board as mentioned in section 10(4) .

(2)  A member or officer of the Board or a member of a committee established as mentioned in section 29(1A)(c) is not personally liable for any act done or omitted to be done by the member or officer in good faith –

(a) in the performance or exercise, or purported performance or exercise, of any function or power of the Board or the committee; or

(b) [Section 27A Subsection (2) amended by No. 26 of 2005, Sched. 2, Applied:24 Jun 2005] in the administration or execution, or purported administration or execution, of this Act, any other Act or any instrument having effect under this Act or any other Act.

(3)  Neither the Board nor any member or officer of the Board is liable for any loss suffered by a person by reason of –

(a) an investment choice exercised under the regulations; or

(b) the exercise of an election by the person to become a member of a complying superannuation scheme other than the contributory scheme or accumulation scheme.

(4)  [Section 27A Subsection (4) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] A liability that would, but for subsection (2) , be incurred by a member or officer of the Board or a member of the committee referred to in that subsection lies with the Board and is to be paid out of the subfund to which the liability relates.

(5)  For the purposes of this section –

(a) a reference to a member or officer of the Board includes a reference to –

(i) a substitute member or former substitute member of the Board; and

(ii) the chief executive officer or former chief executive officer; and

(iii) a former member or former officer of the Board; and

(b) a reference to a member of the committee referred to in subsection (2) includes a reference to a former member of the committee.

28.   Power of Minister to approve transfer arrangements

[Section 28 Amended by No. 40 of 1996, s. 4 and Sched. 2 ][Section 28 Amended by No. 52 of 2002, s. 13, Applied:27 Nov 2002] The Minister may make or approve arrangements, to take effect on or after the first commencement day, under which money, investments, any estate or interest in land or other property is to be transferred to the Fund and vested in the Board consequent on the winding up of a superannuation scheme established by–

(a) [Section 28 Amended by No. 106 of 2001, s. 6, Applied:05 Dec 2001] a statutory authority; or

(b) a controlling authority of any industry or undertaking carried on by, or on behalf of, the State.

29.   Regulations

(1)  The Governor may make regulations for the purposes of this Act.

(1A)  [Section 29 Subsection (1A) inserted by No. 52 of 2002, s. 14, Applied:27 Nov 2002] [Section 29 Subsection (1A) substituted by No. 52 of 2002, s. 15, Applied:01 Jan 2003] Without limiting subsection (1) , the regulations may provide –

(a) for the administration of subfunds for members of Parliament first elected before 1 July 1999 and the widows, widowers and children of those members; and

(b) for contributions to the Fund or a subfund to be made by the Minister which may be an appropriation of the Consolidated Fund; and

(c) for any entitlement of members of Parliament arising from ill-health or physical or mental incapacity to be determined by a committee consisting of the President of the Legislative Council, the Speaker of the House of Assembly and the Secretary of the responsible Department in relation to the Public Account Act 1986 or his or her nominee; and

(d) for the procedure to be followed by the committee; and

(e) for the procedure to be followed in determining a dispute under this Act; and

(f) that a person aggrieved by a decision of the Board or of the committee referred to in paragraph (c) may, on payment of a prescribed fee, require it to apply to the Supreme Court for a declaration as to the validity of its decision; and

(g) for the powers of the Supreme Court on any such application; and

(h) [Section 29 Subsection (1A) amended by No. 55 of 2003, s. 10, Applied:25 Sep 2003] for the costs of the proceedings in the Supreme Court; and

(i) [Section 29 Subsection (1A) amended by No. 55 of 2003, s. 10, Applied:25 Sep 2003] for fees payable in respect of the administration of this Act.

(2)  [Section 29 Subsection (2) amended by No. 52 of 2002, s. 14, Applied:27 Nov 2002] [Section 29 Subsection (2) amended by No. 40 of 1996, s. 4 and Sched. 2 ]The regulations do not have effect until publication of a notice in the Gazette by the Minister that a draft of the regulations has been approved by both Houses of Parliament but, if so approved–

(a) the regulations are not subject to disallowance as provided by section 47 of the Acts Interpretation Act 1931 ; and

(b) the regulations may take effect on and from 1 July 1993 or a later day.

(3)  [Section 29 Subsection (3) substituted by No. 52 of 2002, s. 14, Applied:27 Nov 2002] For the purposes of subsection (2) , a House of Parliament is taken to have approved a draft of the regulations if a copy of the draft has been laid on the table of that House and –

(a) the draft regulations are approved by that House; or

(b) at the expiration of 21 sitting days of that House after the copy was laid on the table of that House, no motion to disallow the draft regulations has been passed.

(4)  [Section 29 Subsection (4) substituted by No. 52 of 2002, s. 14, Applied:27 Nov 2002] For the purposes of this section, where a motion to disallow a draft regulation or a section, division or part of a draft regulation is passed by a House of Parliament –

(a) the motion has the effect of annulling only that draft regulation or that section, division or part, as the case may be; and

(b) the remainder of the draft regulations is taken to be approved by that House.

(4AA)  [Section 29 Subsection (4AA) inserted by No. 52 of 2002, s. 14, Applied:27 Nov 2002] The application of subsections (2) , (3) and (4) extends to a case where approval of a draft of the regulations is given before the second commencement day.

(4A)  [Section 29 Subsection (4A) amended by No. 52 of 2002, s. 14, Applied:27 Nov 2002] [Section 29 Subsection (4A) inserted by No. 18 of 1999, s. 42, Applied:14 May 1999] The regulations may confer power on the Supreme Court to review any determination under this Act that is adverse to the interests of a person claiming to be entitled to a benefit under this Act and to make any declaration as to that entitlement as the Court considers appropriate.

(5)  [Section 29 Subsection (5) amended by No. 52 of 2002, s. 14, Applied:27 Nov 2002] [Section 29 Subsection (5) amended by No. 5 of 1995, s. 10 ][Section 29 Subsection (5) amended by No. 40 of 1996, s. 4 and Sched. 2 ]The regulations may contain provisions of a savings or transitional nature consequent on the enactment of this Act or the Retirement Benefits (Parliamentary Superannuation Trustee Arrangements and Miscellaneous Amendments) Act 2002 or the abolition of the Trust and, without limitation, may provide that any functions, powers, rights, duties and authorities conferred by, or arising from–

(a) [Section 29 Subsection (5) amended by No. 52 of 2002, s. 14, Applied:27 Nov 2002] the repealed Act or any other Act amended or repealed by this Act or the Retirement Benefits (Parliamentary Superannuation Trustee Arrangements and Miscellaneous Amendments) Act 2002 ; or

(b) an arrangement or agreement under which services formerly or currently provided by the State are transferred to another person, where the arrangement or agreement is declared by the Minister by notice in the Gazette to be a transfer arrangement for the purposes of the regulations–

are to continue in force with such modifications as may be provided by the regulations.

(5A)  [Section 29 Subsection (5A) inserted by No. 18 of 1999, s. 42, Applied:14 May 1999] [Section 29 Subsection (5A) substituted by No. 52 of 2002, s. 14, Applied:27 Nov 2002] [Section 29 Subsection (5A) substituted by No. 55 of 2003, s. 10, Applied:25 Sep 2003] The regulations may provide for –

(a) any matter necessary or desirable for carrying into effect any law of the State or the Commonwealth relating to the splitting of superannuation interests on the breakdown of a relationship; or

(b) without limitation, abrogating, reducing, assigning or withholding a person's entitlement to a lump sum or pension benefit in order to satisfy the requirements of any such law or of any other relevant law of the Commonwealth; or

(c) the imposition of fees payable to the Board for any such purpose as provided for by the law of the Commonwealth –

and any such regulation may take effect on the day on which that law of the State or the Commonwealth takes effect or on any later day.

(5B)  [Section 29 Subsection (5B) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] [Section 29 Subsection (5B) inserted by No. 55 of 2003, s. 10, Applied:25 Sep 2003] The regulations may also contain provisions for abrogating, reducing, assigning or withholding a person's entitlement to a lump sum or pension benefit in a case where the Board is satisfied that a contributor, former contributor, former eligible employee or pensioner was, at the date of his or her death, living apart from his or her spouse or partner in a significant relationship, within the meaning of the Relationships Act 2003 , and not providing significant financial support for that spouse or partner.

(6)  [Section 29 Subsection (6) amended by No. 40 of 1996, s. 4 and Sched. 2 ]Before proposed regulations are submitted to the Governor, the Board must, if appropriate to do so, provide the Minister with a statement as to the likely cost to the State arising from the proposed regulations.

(7)  [Section 29 Subsection (7) amended by No. 40 of 1996, s. 4 and Sched. 2 ]The regulations may, in such cases as may be specified in them, require any document, information or particulars required by or under the regulations to be furnished or given to the Minister or to the Board to be verified by a statutory declaration.

(8)  The regulations may be made subject to such conditions, or be made so as to apply differentially to any class of members according to such factors as may be specified in them or according to such limitations or restrictions, whether as to time or circumstances or otherwise, as may be so specified.

(9)  The regulations may provide that it is an offence, punishable on summary conviction, for a person to contravene any of them and may provide in respect of any such offence for the imposition of a fine not exceeding 50 penalty units and, in the case of a continuing offence, a further fine not exceeding 5 penalty units for each day during which the offence continues.

(10)  [Section 29 Subsection (10) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] The regulations may authorize any matter or thing to be from time to time determined, applied or regulated by any person or body specified in the regulations and, without limitation, may provide for the Minister to appoint a chief executive officer of the Board and may also provide for the conditions of appointment and the powers, functions and duties of the chief executive officer.

(11)  [Section 29 Subsection (11) inserted by No. 106 of 2001, s. 7, Applied:05 Dec 2001] If any of the regulations made under this Act are amended by any other Act –

(a) those amendments have effect notwithstanding the provisions of this section; and

(b) those amendments do not prevent the amendment or rescission of any of those regulations by regulations subsequently made in accordance with this section.

(12)  [Section 29 Subsection (12) inserted by No. 106 of 2001, s. 7, Applied:05 Dec 2001] The application of subsection (11) extends to the Retirement Benefits (Miscellaneous Amendments) Act 2001 and to any Act passed before the commencement of that Act.

29A.   Winding up of Retirement Benefits Fund Investment Trust and PSRB Trust

[Section 29A Inserted by No. 5 of 1995, s. 11 ][Section 29A Substituted by No. 52 of 2002, s. 16, Applied:01 Jan 2003]

(1)  In this section,

State tax means application or registration fees, stamp duty or any other tax, duty, fee or charge imposed by any Act or law of Tasmania.

(2)  The transitional and savings provisions in Schedule 3 have effect with respect to the dissolution of the Retirement Benefits Fund Investment Trust.

(3)  The transitional and savings provisions in Schedules 4 and 4A have effect with respect to the dissolution of the PSRB Trust.

(4)  State tax is not payable in respect of any document prepared, or transaction effected, for the purposes of Schedule 3 or 4 .

(5)  Where the Minister is satisfied that the PSRB Trust and the Actuary have complied with clauses 6 and 7 of Schedule 4 , the Minister may, by notice published in the Gazette, declare that the PSRB Trust is dissolved.

29B.   Members of boards of statutory authorities and State-owned companies

[Section 29B Inserted by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000]

(1)  [Section 29B Subsection (1) substituted by No. 106 of 2001, s. 8, Applied:05 Dec 2001] A person who is, or has been, a member of a board is not, by virtue of that office, entitled to be a member of the contributory scheme and is taken to have had no such entitlement by virtue of that office at any relevant time.

(2)  [Section 29B Subsection (2) substituted by No. 106 of 2001, s. 8, Applied:05 Dec 2001] This section does not apply to a chief executive officer, by whatever name called, of a statutory authority or State-owned company who, under the terms of his or her employment, is required to act as a member of the board of that statutory authority or State-owned company.

(3)  [Section 29B Subsection (3) substituted by No. 106 of 2001, s. 8, Applied:05 Dec 2001] If a person referred to in subsection (1) had been admitted to, and had made contributions to, the contributory scheme before 13 December 2000 –

(a) that person is taken to have ceased to be a member of that scheme on that date; and

(b) the Board must refund to that person the total amount of those contributions together with interest on those contributions at the fund earning rate for the contributory scheme; and

(c) that person is to be placed in the same position as if he or she had been a member of the non-contributory scheme or the accumulation scheme, as the case may require, during the relevant period.

(4)  [Section 29B Subsection (4) substituted by No. 106 of 2001, s. 8, Applied:05 Dec 2001] If a person is making contributions to the contributory scheme and has, at any time, also made contributions to that scheme in respect of any remuneration paid or payable as a member of a board, the Board must, as soon as practicable after the commencement of the Retirement Benefits (Miscellaneous Amendments) Act 2001  –

(a) transfer the amount of those contributions paid as a member of that board, together with interest on those contributions at the rate specified in section 29E , to an investment account in the accumulation scheme for that person; and

(b) place that person in the same position as if, during the period when he or she was a member of that board –

(i) his or her contributions had been determined without reference to that remuneration; and

(ii) he or she had, in respect of the remuneration paid or payable as a member of that board, been a member of the non-contributory scheme or the accumulation scheme, as the case may require; and

(c) notify that person, in writing, of the transfer mentioned in paragraph (a) stating the amount transferred and full particulars of the calculations made by the Board under this section.

(4A)  [Section 29B Subsection (4A) inserted by No. 106 of 2001, s. 8, Applied:05 Dec 2001] For the purposes of paragraph (c) of subsection (3) or paragraph (b)(ii) of subsection (4) , the relevant statutory authority or State-owned company must pay to the Board any amount required to give effect to that subsection for the relevant period.

(4B)  [Section 29B Subsection (4B) inserted by No. 106 of 2001, s. 8, Applied:05 Dec 2001] Where a person who is contributing to the contributory scheme is, or has been, a member of a board, his or her contributions to that scheme and benefit entitlements under that scheme are to be determined without regard to any remuneration paid or payable as a member of that board.

(5)  Where a person is appointed as a member of a board –

(a) he or she is not eligible by reason only of that appointment to become a member of the contributory scheme; and

(b) the application of the Public Sector Superannuation Reform Act 1999 extends to that person as if he or she were an employee for the purposes of that Act; and

(c) subject to subsection (6) , he or she is to be a member of the accumulation scheme.

(6)  [Section 29B Subsection (6) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] A member of a board may elect to become a member of an RSA or a complying superannuation scheme other than the accumulation scheme.

(7)  A member of a board is entitled to employer superannuation contributions at the rate specified in the Public Sector Superannuation Reform Act 1999 .

(8)  [Section 29B Subsection (8) amended by No. 106 of 2001, s. 8, Applied:05 Dec 2001] [Section 29B Subsection (8) omitted by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] .  .  .  .  .  .  .  .  

29C.   Membership of contributory scheme by reason of 2 or more positions or capacities

[Section 29C Inserted by No. 106 of 2001, s. 9, Applied:05 Dec 2001]

(1)  This section applies to a person who makes contributions to the contributory scheme by virtue of employment in 2 or more positions or capacities in one or more Agencies if the employment in at least one but not all of those positions or capacities qualifies him or her to be a member of that scheme.

(2)  If, before the commencement of the Retirement Benefits (Miscellaneous Amendments) Act 2001 , an account had been established in the non-contributory scheme or the accumulation scheme for a person to whom this section applies, that account is taken to have been validly established.

(3)  Where, in respect of a person to whom this section applies, contributions have been made to the contributory scheme by virtue of employment that does not qualify that person to contribute to that scheme, the Board must, as soon as practicable after the commencement of the Retirement Benefits (Miscellaneous Amendments) Act 2001  –

(a) transfer the amount of those contributions, together with interest on those contributions at the rate specified in section 29E , to an investment account in the accumulation scheme for that person; and

(b) place that person in the same position as if –

(i) his or her contributions had been determined without reference to any employment that did not qualify him or her to contribute to that scheme; and

(ii) he or she had, in respect of that employment, been a member of the non-contributory scheme or the accumulation scheme, as the case may require; and

(c) notify that person, in writing, of the transfer mentioned in paragraph (a) stating the amount transferred and full particulars of the calculations made by the Board under this section.

(4)  For the purposes of subparagraph (ii) of subsection (3)(b) , the relevant Agency must pay to the Board any amount required to give effect to that subsection for the relevant period.

(5)  The contributions of a person to whom this section applies and benefit entitlements under the contributory scheme are to be determined without regard to any employment that does not qualify him or her to contribute to that scheme.

29D.   Indemnity for Crown, Board, &c.

[Section 29D Inserted by No. 106 of 2001, s. 9, Applied:05 Dec 2001] An action does not lie against the Crown, the Board, any member of the Board, the chief executive officer of the Board or any other officer of the Board by reason of the operation of section 29B or 29C or in respect of any advice given, or statement made, in good faith by or on behalf of the Board arising from, or for the purposes of, either of those sections.

29E.   Payment of interest on contributions

[Section 29E Inserted by No. 106 of 2001, s. 9, Applied:05 Dec 2001] For the purposes of sections 29B and 29C , interest is payable on contributions made –

(a) in respect of any part of the relevant period before 25 April 2000, at the rate credited to members of the non-contributory scheme; and

(b) in respect of any part of that period on or after that date, at the rate credited to members of the accumulation scheme in the absence of an election for investment choice under the Trust Deed.

29F.   Validation of certain actions and decisions of Board

[Section 29F Inserted by No. 55 of 2003, s. 11, Applied:25 Sep 2003] Where the Board has taken any action or made any decision since 28 December 2002 for the purpose of carrying into effect the provisions of Part VIIIB of the Family Law Act 1975 , that action or decision is taken to be as valid and effectual as if the Public Sector Superannuation (Splitting of Superannuation Interests) Act 2003 had commenced on that date.

29G.   Validation of certain payments by Board

[Section 29G Inserted by No. 33 of 2004, s. 8, Applied:27 Oct 2004] Where –

(a) the Board has made a payment of a benefit to, or on behalf of, a person on or after 1 July 1994 and before the commencement of the Retirement Benefits Amendment (Early Release of Benefits) Act 2004 ; and

(b) a regulated superannuation fund, within the meaning of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth, would have been permitted to make such a payment under that Act –

that payment by the Board is taken to have been validly made.

29H.   Validation of certain decisions and payments relating to invalidity

[Section 29H Inserted by No. 59 of 2004, s. 17, Applied:17 Dec 2004]

(1)  Where, before the commencement of this section –

(a) a question had arisen under the Retirement Benefits Regulations 1994 as to whether –

(i) a person was suffering from such bodily infirmity, physical incapacity or mental incapacity as to be retired on the grounds of invalidity; or

(ii) a person, who immediately before 1 July 1994 was a contributor under the repealed Act, was not suffering from bodily infirmity, physical incapacity or mental incapacity as to be retired on the grounds of invalidity but was suffering from incapacity or infirmity as to be retired on the grounds of partial and permanent incapacity or infirmity; and

(b) the Board decided that it was unable to determine the question on the ground that the person to whom the question related was no longer a contributor or eligible employee –

that decision of the Board is taken to have been validly made.

(2)  Where the Board has, after 25 May 2004 and before 19 October 2004, made a determination in respect of a question referred to in subsection (1)(a) relating to any person who, at the time of the determination, was not in the employment of an Agency –

(a) that determination is taken to have been validly made; and

(b) any benefit paid as a consequence of that determination is taken to have been validly paid.

29J.   Validation of notice

[Section 29J Inserted by No. 59 of 2004, s. 17, Applied:17 Dec 2004]

(1)  The notice by the Treasurer published in the Gazette on 22 September 1999 declaring that the Retirement Benefits Regulations 1994 apply to the authorities specified in the notice is taken to have applied as provided by those regulations, and with effect from 15 May 1999, to –

(a) each of the joint authorities, State-owned companies, Agencies or parts of Agencies specified in that notice; and

(b) their employees and former employees –

and in so applying to have effect as if –

(c) the reference to the Royal Tasmanian Botanical Gardens were a reference to the board of trustees under the Botanical Gardens Act 1950 or the Botanical Gardens Board under the Royal Tasmanian Botanical Gardens Act 2002 , as may be appropriate; and

(d) the reference to the Regional Water Authority were a reference to the Hobart Regional Water Authority; and

(e) the reference to Marine and Safety Tasmania were a reference to the Marine and Safety Authority; and

(f) the reference to the Port Arthur Historical Site Management Authority were a reference to the Port Arthur Historic Site Management Authority.

(2)  This section expires on a date to be fixed by the Minister by notice published in the Gazette.

29K.   Validation of certain actions and decisions of Board relating to membership continuity

[Section 29K Inserted by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] Where, during the period commencing on 15 May 1999 and ending on the commencement of the Public Sector Superannuation (Miscellaneous Amendments) Act 2005  –

(a) the Board has made any decision allowing a member to maintain continuity of membership in respect of the whole or any part of a break in service that occurred during that period; and

(b) that decision purports to have been made in accordance with the regulations in force under this Act at the time –

that decision is taken to have been validly made under those regulations.

30.   Amendment of Acts

(1)  Each Act that is specified in Schedule 6 is amended in the manner specified in that Schedule.

(2)  The Retirement Benefits Act 1982 is amended in the manner specified in Schedule 7 .

31.   Transitional and savings provisions

The transitional and savings provisions specified in Schedule 8 have effect.

32.   Repeals

The Acts that are specified in Schedule 9 are repealed.

33.   

[Section 33 Repealed by No. 40 of 1996, s. 3 and Sched. 1 ].  .  .  .  .  .  .  .  

SCHEDULE 1 - Membership of Board

[Schedule 1 Amended by No. 40 of 1996, s. 4 and Sched. 2 ]

Section 8 (4)

1.   Term of office

Subject to this Schedule, a member of the Board is to be appointed for such term, not exceeding 3 years, as is specified in the instrument of his or her appointment and is, if qualified, eligible for reappointment from time to time for such term, not exceeding 3 years, as is specified in the instrument of his or her reappointment.

2.   Provisions relating to members

Where, by or under any Act, provision is made requiring the holder of an office to devote the whole of his or her time to the duties of his or her office, that provision does not operate to disqualify him or her from holding that office and also the office of a member of the Board or from accepting and retaining any remuneration payable to a member of the Board under clause 4 .

3.   Office of member not an office or place of profit

The office of a member of the Board is not, for the purposes of any Act, to be taken to be an office or place of profit under the Crown.

4.   Remuneration of members

(1) Each member of the Board is entitled to be paid such remuneration (including travelling and sustenance allowances) as the Governor may from time to time determine in respect of him or her.

(2) The remuneration paid under subclause (1) to a member of the Board is to be a charge against the Board's revenue.

5.    State Service Act 2000 not to apply

[Schedule 1 Amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] The provisions of the State Service Act 2000 do not apply to or in respect of the appointment or election of a member of the Board and a member of the Board is not, in his or her capacity as such a member, subject to the provisions of that Act during his or her term of office.

6.   Appointment of substitute to act during absence of member of Board

(1) The Governor may appoint any person to act in the office of a member of the Board while that member is absent from his or her office through illness or any other cause.

(2) A member of the Board is, for the purposes of subclause (1) , to be taken to be absent from his or her office if there is a vacancy in that office which has not been filled in accordance with clause 8 .

(3) A person is not concerned to inquire whether or not any occasion has arisen requiring or authorizing a person to act in the office of a member of the Board, and all things done, or omitted to be done, by that person while so acting are to be as valid, and are to have the same consequences, as if they had been done, or omitted to be done, by that member.

7.   Vacation of office

(1) A member of the Board is taken to have vacated his or her office –

(a) when he or she dies; or

(b) if he or she becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with his or her creditors, or makes an assignment of his or her remuneration or estate for their benefit; or

(c) if he or she is absent from 3 consecutive ordinary meetings of the Board of which reasonable notice has been given to him or her, either personally or in the ordinary course of post, unless on leave granted by the Minister; or

(d) [Schedule 1 Amended by No. 32 of 1996, Sched. 1, Applied:01 Nov 1999] if he or she becomes unable to perform competently the duties of the office;

(e) if he or she is convicted in the State of a crime or an offence which is punishable by imprisonment for 12 months or upwards, or if he or she is convicted elsewhere than in the State of an offence which, if committed in the State, would be a crime or an offence so punishable or if he or she has been convicted, whether in the State or elsewhere, of a crime or an offence for which he or she has been sentenced to imprisonment; or

(f) if he or she resigns his or her office by writing under his or her hand addressed to the Governor and the Governor accepts the resignation; or

(g) if, having been appointed by virtue of his or her holding a particular office, the member ceases to hold that office; or

(h) if he or she is removed from office under subclause (2) .

(2) Where a member of the Board has been elected or chosen in accordance with the regulations, the Governor may remove that member from office if satisfied that he or she is no longer qualified to be so elected or chosen.

8.   Filling of casual vacancies

On the occurrence of a vacancy in the office of a member of the Board, the Governor must appoint a person to the vacant office for the balance of his or her predecessor's term of office.

9.   Validity of proceedings

(1) No act or proceeding of the Board or of a person acting under a direction of the Board is invalidated or prejudiced by reason only of the fact that at the time when the act or proceeding was done, taken or commenced, there was a vacancy in the office of a member of the Board.

(2) All acts and proceedings of the Board or of a person acting under a direction of the Board are, notwithstanding the subsequent discovery of a defect in the appointment or election of a member of the Board or that a person was disqualified from acting as, or incapable of being, a member of the Board, as valid as if the member had been duly appointed or elected and was qualified to act as, or capable of being, a member of the Board and as if the Board had been fully constituted.

10.   Presumptions

In any proceedings by or against the Board, unless evidence is given to the contrary, no proof is required of –

(a) the constitution of the Board; or

(b) any resolution of the Board; or

(c) the appointment or election of a member of the Board; or

(d) the presence of a quorum at a meeting of the Board.

SCHEDULE 2 - Meetings of Board

Section 8 (5)

1.   Convening of meetings of the Board

Meetings of the Board may be convened by the President of the Board or by any 2 members of the Board.

2.   Procedure at meetings

(1) Four members of the Board are required for a quorum at a duly convened meeting of the Board.

(2) A duly convened meeting of the Board at which a quorum is present is competent to transact any business of the Board.

(3) [Schedule 2 Amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] [Schedule 2 Amended by No. 19 of 1999, Sched. 1, Applied:15 May 1999] Subject to subclause (5) , questions arising at a meeting of the Board are to be determined by a majority of two-thirds of the votes of the members present and voting, excluding the President.

(4) Where the voting on a question arising at a meeting of the Board is equal, the question is to be postponed until the next meeting of the Board and notice of the question and of the fact that the voting on it was equalis to be given in the notice calling that last-mentioned meeting.

(5) [Schedule 2 Amended by No. 19 of 1999, Sched. 1, Applied:15 May 1999] [Schedule 2 Amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] If, after 3 meetings of the Board, the voting on a question which has been postponed in accordance with subclause (4) is again equal, the President may exercise a casting vote at the next meeting at which the question is again considered.

3.   Chairperson

(1) The President of the Board must preside at all meetings of the Board at which he or she is present.

(2) If the President of the Board is not present at a meeting of the Board, the Deputy President of the Board, or, if he or she is also absent from the meeting, such other member of the Board as the members present elect, must preside at that meeting.

(3) [Schedule 2 Amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] The President of the Board may only exercise a vote as provided by clause 2(5).

4.   Minutes

The Board must cause full and accurate minutes to be kept of its proceedings at meetings.

5.   General procedure

The procedure for the calling of, and for the conduct of business at, the meetings of the Board is, subject to any procedure that is specified in this Schedule, to be as determined by the Board.

SCHEDULE 3 - Transitional and savings provisions arising from dissolution of Retirement Benefits Fund Investment Trust

[Schedule 3 Substituted by No. 5 of 1995, s. 12 ]

Section 29A (3)

1.   Transfer of staff of Trust

The Minister may, on the recommendation of the Board and by notice published in the Gazette before 1 July 1995, specify persons holding office as officers of the Trust who on that day –

(a) are to become subject to the Tasmanian State Service Act 1984 ; or

(b) are to be employed in the administration of this Act on terms and conditions determined by the Board.

2.   Consequences of transfer of officers of Trust

(1) An officer of the Trust who is transferred under clause 1 –

(a) is not entitled to receive any payment or other benefit by reason only of the fact that he or she has ceased to be employed by the Trust; and

(b) retains all existing and accruing rights to leave as if his or her service as an employee were a continuation of his or her service as an officer of the Trust; and

(c) if the officer elects, by notice in writing given to the Trust before 30 June 1995, that this paragraph is to apply to him or her, is taken to be compulsorily retired on that day for the purposes of the Long Service Leave (State Employees) Act 1994 .

(2) Subclause (1) (b) does not apply to the rights of an officer of the Trust to recreation leave or long service leave if arrangements have been made for payment to the officer for loss of those rights.

(3) Where an officer of the Trust is a contributor to the Scheme, nothing in this Schedule is taken to affect his or her rights or obligations as such.

3.   Transfer of property of Trust, &c.

(1) On 1 July 1995 –

(a) any estate or interest in land and any money, investments or other property of the Trust are transferred to and vest in the Board; and

(b) all obligations and liabilities of the trust that are subsisting before that day become obligations and liabilities of the Board.

(2) On and after 1 July 1995 –

(a) any debt, money or claim, whether liquidated or unliquidated, that, immediately before that day, was payable to, or recoverable by, the Trust is to be a debt, money or a claim payable to, or recoverable by, the Board, as the case may be; and

(b) any debt due from, money payable by or any other claim, whether liquidated or unliquidated, enforceable against, the Trust immediately before that day becomes a debt due from, money payable by or a claim enforceable against, the Board.

4.   Construction of instruments

(1) This clause applies to an instrument which was in force immediately before 1 July 1995 and in which there is a reference to the Trust.

(2) An instrument to which this clause applies has effect on and from 1 July 1995 as if –

(a) the reference were a reference to the Board; or

(b) if the case so requires, the reference included a reference to the Board –

unless the context or subject-matter of the instrument otherwise indicates or requires.

5.   Continuation of proceedings

(1) Any legal or other proceedings that might, before 1 July 1995, have been continued or instituted by, or against, the Trust may, on and after that day, be continued or instituted by, or against, the Board.

(2) A judgment or order of a court obtained in legal proceedings by or against the Trust may be enforced by or, as the case may be, against the Board.

6.   Powers of Board in respect of matters arising under clauses 4 and 5

On and after 1 July 1995 –

(a) the Board may, in addition to pursuing any other remedies or exercising any other powers that may be available to it, pursue the same remedies for the recovery of debts, money and claims referred to in clause 3 (2) that are payable to, or recoverable by, the Board and for the prosecution of proceedings referred to in clause 5 as the Trust might have done but for the enactment of this Schedule; and

(b) the Board may enforce and realise any security or charge existing immediately before that day in favour of the Trust and may exercise any powers conferred under the security or charge on the Trust as if it were a security or charge in favour of the Board.

7.   Contracts and agreements

Any contract, agreement, arrangement or undertaking entered into by the Trust, if not executed, discharged or otherwise terminated before 1 July 1995, is taken to be a contract, agreement, arrangement or undertaking entered into with the Board.

8.   Statement of accounts and annual report

It is the duty of the Trust to prepare and submit to the Board before 31 October 1995 a statement of accounts and an annual report relating to the year ended on 30 June 1995 and, for the purposes of this clause, the Board must –

(a) allow the Trust to have the services of employees and access to all relevant documents and records; and

(b) pay all reasonable costs incurred by the Trust.

9.   Liabilities of Trust

Any liability incurred by the Trust under section 23 as in force before 1 July 1995 is to be paid out of the Consolidated Fund without further appropriation than this clause.

10.   Instruments by delegates of Trust

An instrument purporting to be signed by a person acting as delegate of the Trust under section 24 as in force before 1 July 1995 in his or her capacity as such a delegate –

(a) may be received in evidence in all courts and before all persons acting judicially as if it were an instrument executed by the Trust under seal; and

(b) until the contrary is proved, is taken to be an instrument signed by a delegate of the Trust under that section.

11.   [Schedule 3 Amended by No. 52 of 2002, s. 17, Applied:01 Jan 2003] .  .  .  .  .  .  .  .  

SCHEDULE 4 - Transitional Provisions Relating to Dissolution of PSRB Trust

[Schedule 4 Repealed by No. 5 of 1995, s. 12 ][Schedule 4 Inserted by No. 52 of 2002, s. 18, Applied:01 Jan 2003]

Section 29A(3) and (4)

1.   Transfer of property of PSRB Trust, &c.

(1) On the second commencement day –

(a) any estate or interest in land and any money, investments or other property of the PSRB Trust are transferred to, and vest in, the Board; and

(b) all obligations and liabilities of the PSRB Trust that are subsisting before that day become obligations and liabilities of the Board.

(2) On and after the second commencement day –

(a) any debt, money or claim, whether liquidated or unliquidated, that, immediately before that day, was payable to, or recoverable by, the PSRB Trust is to be a debt, money or claim payable to, or recoverable by, the Board, as the case may be; and

(b) any debt due from or money payable by, or any other claim, whether liquidated or unliquidated, enforceable against, the PSRB Trust immediately before that day becomes a debt due from, money payable by or claim enforceable against the Board.

2.   Construction of instruments

(1) This clause applies to an instrument which was in force immediately before the second commencement day and in which there is a reference to the PSRB Trust.

(2) An instrument to which this clause applies has effect on and from the second commencement day as if –

(a) the reference to the PSRB Trust were a reference to the Board; or

(b) if the case so requires, the reference to the PSRB Trust included a reference to the Board –

unless the context or subject matter of the instrument otherwise indicates or requires.

3.   Continuation of proceedings

(1) Any legal or other proceedings that might, before the second commencement day, have been continued or instituted by, or against, the PSRB Trust may, on and after that day, be continued or instituted by, or against, the Board.

(2) A judgment or order of a court obtained in legal proceedings by or against the PSRB Trust may be enforced by or, as the case may be, against the Board.

4.   Powers of Board in respect of matters arising under clauses 2 and 3

On and after the second commencement day –

(a) the Board may, in addition to pursuing any other remedies or exercising any other powers that may be available to it, pursue the same remedies for the recovery of debts, money and claims referred to in clause 1(2) that are payable to, or recoverable by, the Board and for the prosecution of proceedings referred to in clause 3 as the PSRB Trust might have done but for the enactment of this Schedule; and

(b) the Board may enforce and realise any security or charge existing immediately before the second commencement day in favour of the PSRB Trust and may exercise any powers conferred under the security or charge on the PSRB Trust as if it were a security or charge in favour of the Board.

5.   Contracts and agreements

Any contract, agreement, arrangement or undertaking entered into by the PSRB Trust, if not executed, discharged or otherwise terminated before the second commencement day, is taken to be a contract, agreement, arrangement or undertaking entered into by the Board.

6.   Statement of accounts and annual report

Notwithstanding the repeals effected by section 27 of the Retirement Benefits (Parliamentary Superannuation Trustee Arrangements and Miscellaneous Amendments) Act 2002 , it is the duty of the PSRB Trust to prepare and submit to the Minister, as soon as practicable after the second commencement day, a statement of accounts and –

(a) if, on that day, the PSRB Trust has not complied with section 9A of the Parliamentary Superannuation Act 1973 , an annual report relating to the year ended on 30 June 2002; and

(b) in any case, a further report, containing such particulars as the Minister may direct, relating to any subsequent period ending on the second commencement day –

and, for the purposes of this clause, the Board must –

(c) allow the PSRB Trust to have the services of employees and access to all relevant documents and records; and

(d) pay from the relevant subfund all reasonable costs incurred by the PSRB Trust.

7.   Investigation by Actuary

As soon as practicable after the second commencement day, the Actuary must –

(a) undertake an investigation as to the state and sufficiency as at that day of the funds formerly established under the Parliamentary Superannuation Act 1973 and the Parliamentary Retiring Benefits Act 1985 ; and

(b) report the result of the investigation to the Minister and to the Board.

SCHEDULE 4A - Savings Provisions Relating to Dissolution of PSRB Trust

[Schedule 4A Inserted by No. 52 of 2002, s. 18, Applied:01 Jan 2003]

Section 29A(3)

1.   Continuation of PSRB Trust

(1) Notwithstanding the repeals effected by section 27 of the Retirement Benefits (Parliamentary Superannuation Trustee Arrangements and Miscellaneous Amendments) Act 2002, the PSRB Trust continues.

(2) The PSRB Trust consists of –

(a) the President of the Legislative Council; and

(b) the Speaker of the House of Assembly; and

(c) the Secretary of the responsible Department in relation to the Public Account Act 1986 .

(3) If the President of the Legislative Council or the Speaker of the House of Assembly ceases to hold office by reason of the expiration of his or her term as a member, he or she may continue to act as a trustee until his or her successor in the office of President or Speaker is elected to that office.

(4) If a vacancy occurs in the office of a trustee, the Governor may appoint a temporary trustee to hold office until the vacancy is filled by a person designated by this section to hold that office.

(5) The seal of the PSRB Trust is not to be affixed to a document except in accordance with a resolution of the trustees, and is to be authenticated by the signatures of not less than 2 trustees.

2.   Proceedings of PSRB Trust

(1) The affairs of the PSRB Trust are to be conducted at meetings of the Trust.

(2) Meetings of the PSRB Trust may be convened by the chairperson of the Trust or by any 2 members of the Trust.

(3) Two trustees constitute a quorum for the transaction of business at a meeting of the PSRB Trust.

(4) The trustees must, as and when necessary, elect one of their number as the chairperson of the PSRB Trust.

(5) The chairperson must preside at all meetings of the Trust at which he or she is present.

(6) If the chairperson is absent from a meeting of the Trust, such one of the remaining trustees as they may mutually decide must preside at that meeting.

(7) The chairperson has a deliberative vote only.

(8) A question arising at a meeting of the PSRB Trust is to be decided by a majority of the votes of the trustees who are present at the meeting and vote on the question.

(9) In the event of an equality of votes on a question arising at a meeting of the PSRB Trust at which not all the trustees are present, that question is to be postponed until a meeting at which all the trustees are present.

(10) Subject to this clause, the PSRB Trust may regulate its own procedure.

3.   Functions of PSRB Trust

The functions of the PSRB Trust are limited to preparing a statement of accounts and annual report as provided by clause 6 of Schedule 4 .

4.   Expiry of Schedule 4A

This Schedule expires on the publication of a notice by the Minister under section 29A(5) .

SCHEDULE 5

[Schedule 5 Repealed by No. 5 of 1995, s. 12 ]

SCHEDULE 6 - Amendment of Acts

Section 30 (1)

The amendments effected by this Schedule have been incorporated into the authorised version of the following Acts:

(a) Retirement Benefits Legislation (Miscellaneous Amendments) Act 1991 ;

(b) Tasmanian Government Insurance Office (Sale) Act 1993 ;

(c) TT-Line Arrangements Act 1993 .

SCHEDULE 7

The amendments effected by this Schedule have been incorporated into the authorised version of the Retirement Benefits Act 1982 .

SCHEDULE 8 - Transitional and Savings Provisions

[Schedule 8 Amended by No. 40 of 1996, s. 3 and Sched. 1 ][Schedule 8 Amended by No. 17 of 1996, s. 30 ]

Section 31

1.   Continuation of pensions payable under the repealed Act

(1) [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] Subject to this Act, a pension or lump sum benefit of any kind that is payable under the repealed Act immediately before the first commencement day continues, on and after that day, to be payable as a pension or lump sum benefit of that kind under the regulations.

(2) [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] The Board must continue to pay every fortnight in accordance with the regulations an instalment of a pension to which subclause (1) refers that is due on or after the first commencement day.

2.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

3.   Officers of Board and Trust

[Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] A person appointed under section 14 or 16 of the repealed Act as an officer to assist the Board and who holds that office immediately before the first commencement day becomes, on that day, an officer appointed in accordance with this Act to assist the Board on the same terms and conditions as those applicable to his or her office immediately before that day.

4.   Bank accounts

(1) [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] An account opened with a bank by the Board that is in existence immediately before the first commencement day is taken, on and after that day, to be an account maintained by the Board with a bank approved by the Minister.

(2) [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

5.   Accounts and records

(1) [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] The accounts and records kept by the Board under the repealed Act that are in existence immediately before the first commencement day are taken, on and after that day, to be accounts and records kept by the Board in a form, and containing such particulars, as are approved by the Minister.

(2) [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

6.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

7.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

8.   Contributions by existing members

(1) [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] Subject to this clause, a person who immediately before the first commencement day was contributing to the Fund must, on and after that day, continue to contribute to the Fund as provided in the regulations.

(2) Where a person to whom subclause (1) applies was contributing to the Fund at a rate that is not that applicable to the 40 years' service scheme under the repealed Act , that person is taken to have made an election to continue to contribute at that rate.

(3) In respect of a person to whom subclause (1) applies, contributions are to be deducted from each periodical pay in accordance with the regulations and paid to the Fund.

(4) [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] Where a person to whom subclause (1) relates was, immediately before the first commencement day, making supplementary contributions in accordance with the repealed Act , that person is, on and after that day, taken to have made an election to continue to make those supplementary contributions as voluntary contributions.

9.   Savings in respect of elections, directions and delegations

(1) The repeals effected by section 32 do not affect –

(a) the effect of any election, decision, direction, resolution, delegation, certificate, suspension or authorization made or granted by the Board under the repealed Act or of any condition attached to any such election, decision, direction, resolution, delegation, certificate, suspension or authorization; or

(b) the effect of any decision, resolution or delegation made by the Trust.

(2) [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

(3) [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

10.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

11.   Persons not obliged to contribute to the Fund

[Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] Where a person who, immediately before the first commencement day, was not obliged to contribute under the repealed Act , that person continues, on and after that day, not to be obliged to contribute to the Fund under the regulations.

12.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

13.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

14.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

15.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

15A.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

16.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

17.   [Schedule 8 Amended by No. 52 of 2002, s. 19, Applied:27 Nov 2002] .  .  .  .  .  .  .  .  

18.   Where –

(a) a woman was entitled, as the widow of a contributor or pensioner, to a pension under the Superannuation Act 1938 , the Retirement Benefits Act 1970 or the Retirement Benefits Act 1982 ; and

(b) that entitlement has ceased by virtue of subsection (9) of section 36 of the Retirement Benefits Act 1982 as in force immediately before 1 July 1991 –

that woman, if otherwise entitled under that section, is to be taken to be entitled to the pension on and from 1 July 1990 as if that pension had not been suspended.

SCHEDULE 9 - Acts repealed

Section 32