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Tuesday, 25 March 1997
Page: 2353

Senator SHERRY (Deputy Leader of the Opposition in the Senate)(1.31 p.m.) —I am happy to have this document tabled. We publicly released it last year, just prior to the budget. It says on page 12, attachment B, cabinet-in-confidence, under `Regulatory regime to apply to RSA products':

Complying superannuation funds are supervised using a trust structure arrangement by the ISC under the Superannuation Industry (Supervision) Act. These arrangements would continue and would permit public offer complying superannuation funds to offer products broadly equivalent to an RSA if they so wished.

So what is the problem? Apparently the cabinet advice was that there was no problem.