Coal Industry Superannuation Act 1989

The Governor may, by regulations —

designate a superannuation fund as the fund to which the scheme contributions are to be paid and through which the scheme benefits are to be provided; and

revoke a designation made under paragraph (a).

Regulations may not designate a superannuation fund under subsection (1)(a) unless the Minister is satisfied that —

the governing rules of the superannuation fund will, if the superannuation fund is designated, so far as the SIS Act permits —

entitle members and employers to participate in and pay scheme contributions to the superannuation fund; and

require the trustee of the superannuation fund to provide the scheme benefits;

the superannuation fund will, with respect to each member, be a successor fund in relation to a transfer of benefits from the superannuation fund through which, immediately before the designation, the scheme benefits are provided.

Regulations may not revoke the designation of a superannuation fund under subsection (1)(b) unless they also designate another superannuation fund under subsection (1)(a) with effect from the revocation.

Regulations made under subsection (1) may include any provision necessary or convenient for consistency with the SIS Act.