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Wednesday, 2 June 2010
Page: 4965


Mr TANNER (Minister for Finance and Deregulation) (1:52 PM) —I present a supplementary explanatory memorandum to the Governance of Australian Government Superannuation Schemes Bill 2010. I seek leave to move government amendments (1) to (12) together.

Leave granted.


Mr TANNER —I move:

(1)    Clause 3, page 2 (after line 27), after the definition of CSS Fund, insert:

Defence Minister means the Minister who administers the Defence Act 1903.

(2)    Clause 3, page 3 (after line 16), after the definition of governing deed, insert:

military schemes means:

              (a)    the DFRB, DFRDB or MSB; or

              (b)    the DFRB, DFRDB and MSB.

(3)    Clause 3, page 4 (lines 3 to 14), omit the definition of relevant organisation, substitute:

relevant organisation means:

              (a)    an organisation:

                    (i)    a substantial number of whose members are members of a superannuation scheme administered by CSC or eligible employees within the meaning of the Superannuation Act 1976; and

                   (ii)    whose principal purpose is to protect and promote the interest of its members in matters concerning their employment; or

              (b)    an organisation that has as one of its principal purposes the protection and promotion of beneficiaries under a superannuation scheme administered by CSC in matters concerning their entitlements as beneficiaries.

(4)    Clause 10, page 8 (line 28), after “consult with”, insert “one or more”.

(5)    Clause 10, page 8 (after line 28), after subclause 28(4), insert:

      (4A)    Before nominating a person, the Chief of the Defence Force must consult with one or more relevant organisations.

(6)    Clause 10, page 9 (lines 3 to 7), omit subclauses 10(6) and (7).

(7)    Clause 11, page 9 (after line 23), after subclause (3), insert:

      (3A)    In the case of any other director, the Minister must consult the Defence Minister before making an appointment.

(8)    Clause 16, page 11 (after line 27), after subclause (3), insert:

      (3A)    In the case of a director (other than one covered by subsections (5) to (7)), the Minister must consult the Defence Minister before terminating the appointment of the director.

(9)    Clause 17, page 12 (after line 22), after subclause (2), insert:

      (2A)    In the case of an appointment under subsection (1), the Minister must consult the Defence Minister before appointing a person to act as a director.

(10)  Clause 20, page 14 (after line 18), at the end of the clause, add:

         (3)    For the purposes of subsections (1) and (2), if a matter being considered, or about to be considered, at a meeting of the Board concerns only the military schemes, the quorum must include a director nominated by the Chief of the Defence Force.

         (4)    If an issue arises about whether a matter being considered, or about to be considered, at a meeting of the Board concerns only the military schemes, the Chair must determine the issue.

         (5)    A determination made under subsection (4) is not a legislative instrument.

(11)  Clause 23, page 15 (lines 23 to 25), omit paragraph (1)(b), substitute:

              (b)    either:

                    (i)    if the proposed decision concerns only the military schemes—all directors were informed of the proposed decision; or

                   (ii)    in any other case—all directors were informed of the proposed decision, or reasonable efforts were made to inform all directors of the proposed decision.

(12)  Clause 35, page 26 (table item 1), omit “of that Act”, substitute “of the Defence Force Retirement and Death Benefits Act 1973”.