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Title

SUPERANNUATION SAFETY AMENDMENT BILL 2003

In Committee

Database

Senate Hansard

Date

10-03-2004

Source

Senate

Parl No.

40

Electorate

Western Australia

Interjector

 

Page

21172

Party

LP

Presenter

 

Status

Final

Question No.

 

Questioner

 

Responder

 

Speaker

Campbell, Sen Ian

Stage

In Committee

Type

 

Context

Bills

System Id

chamber/hansards/2004-03-10/0018


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Previous Fragment    Next Fragment
Wednesday, 10 March 2004
Page: 21172


Senator IAN CAMPBELL (Minister for Local Government, Territories and Roads) (9:45 AM) —by leave—I move government amendments (3) to (12) and (14) to (37) on sheet QQ246:

(3) Schedule 3, item 2, page 102 (lines 10 to 15), omit the item (including the note), substitute:

2 Subsection 66(3)

Repeal the subsection, substitute:

RSA provider and Regulator to be told about the matter

(3) Subject to subsection (4), the person must, as soon as practicable after forming the opinion mentioned in paragraph (1)(a):

(a) tell the RSA provider about the matter in writing; and

(b) if the contravention about which the person has formed the opinion mentioned in paragraph (1)(a) is of such a nature that it may affect the interests of holders of RSAs—tell the Regulator about the matter in writing.

(4) Schedule 3, item 3, page 102 (lines 18 and 19), omit the heading to subsection (4), substitute:

The person may not have to tell the RSA provider or Regulator about the matter

(5) Schedule 3, item 3, page 102 (line 21), omit “Regulator”, substitute “RSA provider”.

(6) Schedule 3, item 3, page 102 (line 24), omit “Regulator”, substitute “RSA provider”.

(7) Schedule 3, item 3, page 102 (line 27), omit “RSA provider”, substitute “Regulator”.

(8) Schedule 3, item 3, page 102 (line 30), omit “RSA provider”, substitute “Regulator”.

(9) Schedule 3, item 3, page 103 (line 1), omit the heading to subsection (5), substitute:

Penalties for misinformation

(10) Schedule 3, item 3, page 103 (line 5), omit “the Regulator and”.

(11) Schedule 3, item 3, page 103 (lines 7 and 8), omit “either or both the Regulator and”.

(12) Schedule 3, item 3, page 103 (after line 13), after subsection (5), insert:

(5A) A person (the first person) commits an offence if:

(a) this section applies to the first person; and

(b) the first person is aware of a matter that must, under this section, be told to the Regulator; and

(c) the first person tells another person to whom this section applies that the first person has told the Regulator about the matter; and

(d) the first person has not done what the first person told the other person he or she had done.

Penalty: Imprisonment for 12 months.

Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

(14) Schedule 3, item 6, page 105 (lines 3 to 8), omit the item (including the note), substitute:

6 Subsection 129(3)

Repeal the subsection, substitute:

Trustee and Regulator to be told about the matter

(3) Subject to subsection (3A), the person must, as soon as practicable after forming the opinion mentioned in paragraph (1)(a):

(a) tell a trustee of the entity about the matter in writing; and

(b) if the contravention about which the person has formed the opinion mentioned in paragraph (1)(a) is of such a nature that it may affect the interests of members or bene-ficiaries of the entity—tell the Regulator about the matter in writing.

(15) Schedule 3, item 7, page 105 (lines 11 and 12), omit the heading to subsection (3A), substitute:

The person may not have to tell a trustee or the Regulator about the matter

(16) Schedule 3, item 7, page 105 (line 14), omit “the Regulator”, substitute “a trustee of the entity”.

(17) Schedule 3, item 7, page 105 (lines 16 and 17), omit “the Regulator”, substitute “a trustee of the entity”.

(18) Schedule 3, item 7, page 105 (line 20), omit “a trustee of the fund”, substitute “the Regulator”.

(19) Schedule 3, item 7, page 105 (lines 22 and 23), omit “a trustee of the fund”, substitute “the Regulator”.

(20) Schedule 3, item 7, page 105 (line 26), omit the heading to subsection (3B), substitute:

Penalties for misinformation

(21) Schedule 3, item 7, page 105 (line 30), omit “the Regulator and”.

(22) Schedule 3, item 7, page 105 (lines 32 and 33), omit “either or both the Regulator and”.

(23) Schedule 3, item 7, page 106 (after line 5), after subsection (3B), insert:

(3C) A person (the first person) commits an offence if:

(a) this section applies to the first person; and

(b) the first person is aware of a matter that must, under this section, be told to the Regulator; and

(c) the first person tells another person to whom this section applies that the first person has told the Regulator about the matter; and

(d) the first person has not done what the first person told the other person he or she had done.

Penalty: Imprisonment for 12 months.

Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

(24) Schedule 3, item 9, page 107 (line 6), omit “fund”, substitute “entity”.

(25) Schedule 3, item 9, page 107 (line 9), omit “fund”, substitute “entity”.

(26) Schedule 3, item 14, page 111 (line 2), omit “; and”, substitute “.”.

(27) Schedule 3, item 14, page 111 (lines 3 to 5), omit paragraph (1)(c).

(28) Schedule 3, item 14, page 111 (lines 6 to 9), omit subsection (2), substitute:

Trustee and Regulator to be told about the matter

(2) Subject to subsection (3), the person must, as soon as practicable after forming the opinion mentioned in paragraph (1)(a):

(a) tell a trustee of the fund about the matter in writing; and

(b) if the contravention about which the person has formed the opinion mentioned in paragraph (1)(a) is of such a nature that it may affect the interests of members or bene-ficiaries of the fund—tell the Regulator about the matter in writing.

(29) Schedule 3, item 14, page 111 (lines 10 and 11), omit the heading to subsection (3), substitute:

The person may not have to tell a trustee or the Regulator about the matter

(30) Schedule 3, item 14, page 111 (line 13), omit “the Regulator”, substitute “a trustee of the fund”.

(31) Schedule 3, item 14, page 111 (lines 15 and 16), omit “the Regulator”, substitute “a trustee of the fund”.

(32) Schedule 3, item 14, page 111 (line 19), omit “a trustee of the fund”, substitute “the Regulator”.

(33) Schedule 3, item 14, page 111 (lines 21 and 22), omit “a trustee of the fund”, substitute “the Regulator”.

(34) Schedule 3, item 14, page 111 (line 25), omit the heading to subsection (4), substitute:

Penalties for misinformation

(35) Schedule 3, item 14, page 111 (line 29), omit “the Regulator and”.

(36) Schedule 3, item 14, page 111 (lines 31 and 32), omit “either or both the Regulator and”.

(37) Schedule 3, item 14, page 112 (after line 3), after subsection (4), insert:

(4A) A person (the first person) commits an offence if:

(a) this section applies to the first person; and

(b) the first person is aware of a matter that must, under this section, be told to the Regulator; and

(c) the first person tells another person to whom this section applies that the first person has told the Regulator about the matter; and

(d) the first person has not done what the first person told the other person he or she had done.

Penalty: Imprisonment for 12 months.

Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.