7323

2010-2011-2012

The Parliament of the

Commonwealth of Australia

THE SENATE

Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Bill 2012

(Amendments to be moved by Senator Cormann on behalf of the Opposition in committee of the whole)

( 1 )     Schedule 4 , item 5 , page 54 (line 22) , omit “ for defined benefit members ”.

[contributions under modern awards]

( 2 )     Schedule 4 , item 5 , page 54 (before line 23) , before subsection 149A ( 1 ), insert:

          (1A)  A modern award must include a term that permits an employer covered by the award to make contributions, for the benefit of an employee covered by the award who is a default fund employee, to any superannuation fund that offers a MySuper product.

Note:          An employer may make contributions under this term even if the superannuation fund to which the contributions are made is not specified in the modern award.

[contributions under modern awards]

( 3 )     Schedule 4 , item 6 , page 55 (line 20) , omit “section 149A”, substitute “subsection 149A(1)”.

[contributions under modern awards]