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Coal Industry Superannuation Amendment Bill 2013

Bill No.

Synopsis

The purpose of this Bill is to amend the Coal Industry Superannuation Act 1889 to: allow for a "successor fund transfer" of all member benefits and assets from the Coal Industry Superannuation Fund to another Federally regulated and complying superannuation fund; wind up the Coal Industry Superannuation Fund and following completion of all associated requirements to terminate the Coal Industry Superannuation Board; convert the existing statutory framework within the Coal Industry Superannuation Act so that benefits of the type currently provided through the Coal Industry Superannuation Fund can be provided through a newly designated fund; ensure that the Coal Industry Superannuation Act continues to preserve the core statutory defined benefit superannuation rights for Western Australian mine workers and the corollary statutory obligations of Western Australian mine worker employers to contribute to fund those benefits consistent with the current obligations set out in Regulations to the Coal Industry Superannuation Act.

Status

Assented to
Royal Assent given 4 Nov 2013 as Act No. 19 of 2013. Different sections of this Act come into operation on Royal Assent and Proclamation. For details refer to Commencement Clause of the Bill (see also Assent and Commencement information for Acts)

Bill History