South Australian Consolidated Regulations

BANK MERGERS (SOUTH AUSTRALIA) (ST.GEORGE/ADVANCE) REGULATIONS 1998 - SCHEDULE

Schedule—Superannuation rights of State Scheme contributors

1—Amendment of clause 1—Definitions

Clause 1 of the scheduled provisions is amended—

            (a)         by striking out the definition of interim period and substituting the following definition:

interim period means—

            (a)         in relation to an employee of SBSA or BSAL—the period beginning on the appointed day (within the meaning of the State Bank (Corporatisation) Act 1994 ) and ending on 30 June 1999;

            (b)         in relation to a transferred employee—the period beginning on the day on which the employee is transferred to a position in the employment of ABAL or an ABAL subsidiary and ending on 30 June 1999;

            (c)         in relation to a transferred St.George employee—the period beginning on the day on which the employee is transferred to a position in the employment of St.George and ending on 30 June 1999;;

            (b)         by inserting after the definition of State Scheme contributor the following definitions:

St.George means St.George Bank Limited;

St.George subsidiary means a body corporate that is a subsidiary of St.George for the purposes of section 46 of the Corporations Law ;;

            (c)         by inserting after the definition of transferred employee the following definition:

transferred St.George employee means an employee of St.George who was—

            (a)         as an employee of SBSA or a SBSA subsidiary, transferred to a position in the employment of BSAL under Part 5 of the State Bank (Corporatisation) Act 1994 or a corresponding law; and

            (b)         as an employee of BSAL, subsequently transferred to a position in the employment of the ABAL group under Part 4 of the Bank Merger (BankSA and Advance Bank) Act 1996 or the law of another State or Territory; and

            (c)         as an employee of ABAL or an ABAL subsidiary, subsequently transferred to a position in the employment of St.George.;

            (d)         by inserting after its present contents as amended by this clause (now to be designated as subclause (1)) the following subclause:

        (2)         For the purposes of this Schedule, an employee of ABAL or an ABAL subsidiary will be taken to have been transferred to a position in the employment of St.George if the employee ceased (either before or after the commencement of the Bank Mergers (South Australia) (St. George/Advance) Regulations 1998 ) to be an employee of ABAL or the subsidiary for the purpose of becoming an employee of St.George or a St.George subsidiary, whether or not rights or liabilities of ABAL or the subsidiary arising from the employee's employment were transferred to St.George or the subsidiary.

2—Amendment of clause 7— Superannuation Act and State Scheme contributors

Clause 7 of the scheduled provisions is amended—

            (a)         by striking out from subclause (1) "or a transferred employee" and substituting ", or a transferred employee, or a transferred St.George employee,";

            (b)         by inserting after subclause (2a) the following subclause:

        (2b)         The Treasurer must, by order in writing, specify arrangements under which transferred St.George employees may continue as State Scheme contributors during the interim period and the Treasurer may, at any time, with the agreement of St.George, vary the order by further order in writing.;

            (c)         by striking out from subclause (3) "or an ABAL subsidiary" and substituting ", an ABAL subsidiary or St.George";

            (d)         by striking out from subclause (4) "or ABAL or an ABAL subsidiary (including an order under subclause (2) or (2a))" and substituting ", ABAL, an ABAL subsidiary or St.George (including an order under subclause (2), (2a) or (2b))";

            (e)         by striking out from subclause (4)(c) "or the ABAL group" and substituting ", the ABAL group or St.George";

            (f)         by inserting in subclause (5) "or a transferred St.George employee," after "transferred employee,";

            (g)         by striking out from subclause (6)(b)(ii) "or a transferred employee" and substituting ", a transferred employee or a transferred St.George employee";

            (h)         by striking out from subclause (8)(b)(ii) "or a transferred employee" and substituting ", a transferred employee or a transferred St.George employee";

                  (i)         by striking out from subclause (9)(c)(ii) "or a transferred employee" and substituting ", a transferred employee or a transferred St.George employee".

3—Amendment of clause 10—Retrenchment benefits for State Scheme contributors

Clause 10 of the scheduled provisions is amended—

            (a)         by inserting in subclause (1) ", or a transferred St.George employee" after "transferred employee";

            (b)         by inserting after subsubparagraph (C) of subclause (7)(e)(ii) the following subsubparagraph:

                        (D)         in the case of a transferred St.George employee—from St.George; or;

            (c)         by inserting after subsubparagraph (C) of subclause (7)(f)(iii) the following subsubparagraph:

                        (D)         in the case of a transferred St.George employee—from St.George.;

            (d)         by inserting after subsubparagraph (C) of subclause (9)(e)(ii) the following subsubparagraph:

                        (D)         in the case of a transferred St.George employee—from St.George.;

            (e)         by inserting after paragraph (f) of subclause (11) the following paragraph:

            (g)         in the case of a transferred St.George employee—from St.George.