Save Search

Text of bill | Explanatory memoranda | Second reading speeches | Proposed amendments | Schedules of amendments | Bills Digest

Bills of previous Parliaments

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2012


Previous citations:

Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011



Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Establishes a framework for the introduction of a default superannuation product (MySuper) to replace existing default products by amending the: Superannuation Industry (Supervision) Act 1993 to: define MySuper superannuation products; limit regulated superannuation funds to offering only one MySuper product, except in certain circumstances; allow registrable superannuation entity licensees to apply to the Australian Prudential Regulation Authority for authorisation to offer a MySuper product; set out rules on the payment of contributions and account transfers for MySuper products; and set out fees that can be charged to members of a MySuper product; and Superannuation Guarantee (Administration) Act 1992 to provide that employers make superannuation guarantee contributions on behalf of employees who do not have a chosen fund to a fund that offers a MySuper product.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 03/11/11  
Second reading moved 03/11/11  
Second reading debate 21/03/12  
Second reading debate 26/06/12  
Second reading debate 22/08/12  
Second reading agreed to 22/08/12  
Consideration in detail debate 22/08/12 Amendment details: 5 Greens and 6 Government agreed to
Third reading agreed to 22/08/12  
     
Senate
Introduced and read a first time 10/09/12  
Second reading moved 10/09/12  
Second reading debate 22/11/12  
Second reading agreed to 22/11/12  
Committee of the Whole debate 22/11/12 Amendment details: 2 Government agreed to
Third reading agreed to 22/11/12  
     
House of Representatives
Consideration of Senate message 26/11/12 Details: House agreed to Senate amendments
     
Text of bill as passed both Houses 26/11/12  
Assent 28/11/12 Act no.: 162 of 2012
     

Text of bill

  • First reading

MS-Word PDF HTML
  • Third reading

MS-Word PDF HTML
  • As passed by both Houses

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML
  • Supplementary explanatory memorandum

MS-Word PDF HTML
  • Revised explanatory memorandum

MS-Word PDF HTML
  • Supplementary explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

House of Representatives
  • Government [sheet BG233]

MS-Word PDF HTML
  • Non-Government
BANDT, Adam, MP

MS-Word PDF HTML
  • Non-Government
BILLSON, Bruce, MP

MS-Word PDF HTML
Senate
  • Government [sheet BG245]

MS-Word PDF HTML
  • Opposition [sheet 7277]
CORMANN, Sen Mathias

MS-Word PDF HTML

Schedules of amendments

  • Schedule of the amendments made by the Senate

MS-Word PDF HTML

Bills Digest



Notes
  • Referred to Committee (03/11/2011): Joint Committee on Corporations and Financial Services; Committee report (19/03/2012)
  • Access information for House of Representatives and Senate committees
  • An electronic version of this Act is available in ComLaw ( www.comlaw.gov.au )