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Tuesday, 25 March 1997
Page: 2423

Senator ALLISON(8.39 p.m.) —I want to indicate that the Democrats will oppose both amendments 10 and 11. We think amendment 10 is a problem and our amendment allows for an employer to enter into an RSA in the very limited circumstances that the employee has failed to nominate a fund within 28 days. This may or may not be a common occurrence, but we think it is reasonable that there be a mechanism by which an RSA can be opened in the event of that failure.

We oppose amendment 11 because we think it is somewhat too radical. As long as a person has received the information and as long as the ISC has approved the information provided to the consumer, we do not think we need the additional safeguards sought by the opposition. However, I think the opposition's suggestion that applications only be lodged on behalf of one person is a good safeguard and I have circulated a supplementary amendment to insert this after my amendment No. 12. So we would prefer to see in place Democrat amendments Nos 11 to 14, which I will move following these amendments.