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Governance of Australian Government Superannuation Schemes Bill 2010

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2008-2009-2010

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

Governance of Australian Government Superannuation Schemes Bill 2010

 

 

(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 .

[role of Defence Minister]

(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.

[definition of military schemes]

(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.

[definition of relevant organisation]

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

[Board of CSC]

(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.

[Board of CSC]

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

[Board of CSC]

(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.

[role of Defence Minister]

(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.

[role of Defence Minister]

(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.

[role of Defence Minister]

(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.

[quorum]

(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.

[decisions without meetings]

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

[delegation by CSC]