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Thursday, 23 August 2001
Page: 30198

Mr WILLIAMS (Attorney-General) (10:42 AM) —in reply—I would like to thank the honourable member for Barton, who is the only other contributor to the debate on this part of this important legislative reform package. As I have said on other occasions, passage of these family law and superannuation reforms is a very important milestone and is one that no other government has been able to achieve. I am also particularly pleased that the opposition has supported the Family Law Legislation Amendment (Superannuation) (Consequential Provisions) Bill 2001, as well as the policy intention of the whole reform package. The package will overcome what has been regarded for some time by many as an anomaly in the family law system. One of the defects of the current law is that there is currently no mechanism for superannuation held in one person's name to be divided or transferred to the other. The Family Court has been limited to adjourning proceedings until superannuation is received, or merely taking superannuation interests into account as a future financial resource when it divides other property. After the passage of this legislation, the making shortly of other changes to regulations and the gearing up by the superannuation industry over the next 12 months, this unsatisfactory situation will no longer continue. I commend the bill to the Main Committee.

Question resolved in the affirmative.

Bill read a second time.