1Short title
This Act may be cited as the Legislative Assembly Members'
Pensions Act 1979.
Bills and explanatory statements from legislation.nt.gov.au; second reading speeches from the NT Parliamentary Record (Territory Stories). Links open the official source in a new tab.
This Act may be cited as the Legislative Assembly Members'
Pensions Act 1979.
This Act shall come into operation on a date to be fixed by the
Administrator by notice in the Gazette.
In this Act:
accumulation account means the account of a member or former member recorded in the accounts of the Scheme.
additional salary means that part of a members salary or allowance paid to a member, in addition to his or her basic salary as a member, in respect of service in the Assembly as the Speaker, a Minister or Leader of the Opposition, or other service in a particular office or in performance of a particular function in respect of which remuneration or an allowance is payable under the Assembly Members and Statutory Officers (Remuneration and Other Entitlements) Act 2006.
Assembly means the Legislative Assembly.
asset means property of any kind, whether tangible or intangible, real or personal, including any right, interest or claim of any kind, whether liquidated or unliquidated, actual, contingent or prospective.
basic salary has the same meaning as in the Assembly Members and Statutory Officers (Remuneration and Other Entitlements) Act 2006.
Commissioner, see section 3(1) of the Superannuation Act 1986.
full term of the Assembly, in relation to a member elected at a by‑election, includes the period between his or her election as a member (whenever occurring) and the date of the next succeeding general election of members of the Assembly.
Fund means the Legislative Assembly Members' Superannuation Fund established on 23 September 1979 under this Act.
liability means any liability, duty or obligation, whether liquidated or unliquidated, actual, contingent or prospective.
member means a member of the Assembly who:
was elected before the scheme closure date; and
has been a member of the Assembly continuously since that date.
right means any right, power, privilege or immunity, whether actual, contingent or prospective.
Scheme means the superannuation scheme established by this Act.
scheme closure date means the date on which the Legislative Assembly Members' Superannuation Amendment (Scheme Closure) Act 2004 commences.
superannuation contributions surcharge means the superannuation contributions surcharge imposed under the Surcharge Act.
Surcharge Act means the Superannuation Contributions Tax Imposition Act 1997 of the Commonwealth and includes regulations under that Act.
Surcharge Collection Act means the Superannuation Contributions Tax (Assessment and Collection) Act 1997 of the Commonwealth and includes regulations under that Act.
transfer date means the commencement of section 7 of the Superannuation Legislation Amendment Act 2019.
Trustee Board means the Superannuation Trustee Board as constituted on the transfer date under section 8A of the Superannuation Act 1986.
Note for section 3
The Interpretation Act 1978 contains definitions and other provisions that may be relevant to this Act.
The Scheme is to be administered in accordance with:
the Surcharge Act and the Surcharge Collection Act; and
(b) a written agreement entered into by the Territory and the Commonwealth relating to exempt public sector superannuation schemes within the meaning of section 10 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth.
(2) If a provision of this Act or the Regulations is inconsistent with a provision of the Surcharge Act or the Surcharge Collection Act, the provision of this Act or the Regulations is to be taken to have been complied with if the provision of the Surcharge Act or the Surcharge Collection Act, as the case may be, has been complied with.
Part IIAA of the Criminal Code applies to an offence against this
Act.
Note for section 3B
Part IIAA of the Criminal
Code states the general principles of criminal responsibility, establishes general defences, and deals with burden of proof. It also defines, or elaborates on, certain concepts commonly used in the creation of offences.
Part II Administration
Division 1 Discontinuance of Legislative Assembly Members' Superannuation Fund
The assets and liabilities of the Fund are transferred to the
Central Holding Authority on the transfer date.
The assets and liabilities of the Fund must be recorded in the accounts of the Central Holding Authority.
The Fund is discontinued when all its assets and liabilities are transferred under subsection (1).
On the transfer date, the Trustee Board and Commissioner must:
(a) take all practicable steps to transfer the Trustee Board's functions and the records and administration of the Scheme to the Commissioner; and
(b) give to each registrar all documents and information necessary to record and register the transfers mentioned in paragraph (a).
On the transfer date:
(a) the Commissioner is substituted for the Trustee Board in any proceedings relating to the Fund to which the Trustee Board is a party; and
(b) the Commissioner is substituted for the Trustee Board in any agreement or document relating to the Fund; and
(c) any proceedings relating to the Fund that could have been commenced by or against the Trustee Board may only be commenced by or against the Commissioner; and
(d) any remedy that would have been available to or against the Trustee Board relating to the Fund is available only to or against the Commissioner.
In this section:
registrar means a person authorised or required by a law of any jurisdiction to record or register documents relating to transactions affecting a transferred asset or liability.
The Commissioner must record the following in relation to each member and each former member who retains an interest in the Scheme:
all contributions made under Part III;
(b) the return on the accumulation account as at the end of the financial year before the assets of the Fund are transferred to the Central Holding Authority;
(c) the rate of return on the accumulation account determined under section 6(1);
(d) all benefits and other amounts paid from the accumulation account;
(e) any other amounts debited or credited to the accumulation account.
The Commissioner must, on the transfer date, determine the rate of return (which may be positive, neutral or negative) on accumulation accounts.
The return is to be credited or debited to accumulation accounts as at the transfer date.
The Commissioner must establish and maintain for the purposes of section 16 of the Surcharge Collection Act a surcharge debt account for each member in relation to whom a superannuation contributions surcharge is paid or payable by the Commissioner.
The Commissioner must debit to the surcharge debt account of a member:
any superannuation contributions surcharge paid or payable by the
Commissioner in respect of the member; and
any interest payable under the Surcharge Collection Act on the amount by which the account is in debit.
The Commissioner must credit to the surcharge debt account of a member any amount paid under section 8 by the member.
(1) A member may, by lodging with the Commissioner an election form, do any of the following:
(a) pay an amount to the credit of the Central Holding Authority to reduce the amount by which the member's surcharge debt account is in debit;
pay the amount by a single payment or by periodic payments;
(c) vary, in accordance with the form, the amount or manner of payment;
revoke a previous election under this section.
The election form must:
be in a form approved by the Commissioner; and
specify the amount to be paid and the manner of payment.
Despite any other provision of this Act, the Commissioner may:
commute part of a member's pension under this Act to a lump sum in order to pay the balance of the member's surcharge debt account;
or
deduct an amount equal to the balance of a member's surcharge debt account from any payment to be made under this Act in relation to the member.
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