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The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Superannuation Legislation Amendment (Service Providers and Other Governance Measures) Bill 2012
No. , 2012
(Treasury)
A Bill for an Act to amend the law in relation to superannuation, corporations and first home saver accounts, and for related purposes
Contents
1............ Short title............................................................................................. 1
2............ Commencement................................................................................... 1
3............ Schedule(s)......................................................................................... 6
Schedule 1—Amendments 7
Part 1—Amendments 7
Corporations Act 2001 7
First Home Saver Accounts Act 2008 10
Superannuation Industry (Supervision) Act 1993 12
Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 45
Superannuation (Resolution of Complaints) Act 1993 46
Part 2—Application and transitional provisions 48
A Bill for an Act to amend the law in relation to superannuation, corporations and first home saver accounts, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Superannuation Legislation Amendment (Service Providers and Other Governance Measures) Act 2012 .
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
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Commencement information |
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Column 1 |
Column 2 |
Column 3 |
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Provision(s) |
Commencement |
Date/Details |
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1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table |
The day this Act receives the Royal Assent. |
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2. Schedule 1, items 1 to 3 |
1 July 2013. |
1 July 2013 |
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3. Schedule 1, items 4 to 6 |
1 July 2015. |
1 July 2015 |
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4. Schedule 1, items 7 and 8 |
The later of: (a) the day after this Act receives the Royal Assent; and (b) the day after item 2 of Schedule 1 to the Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 commences. |
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5. Schedule 1, item 9 |
1 July 2013. |
1 July 2013 |
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6. Schedule 1, item 10 |
Immediately after the commencement of item 1A of Schedule 1 to the Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 . |
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7. Schedule 1, item 11 |
Immediately after the commencement of Schedule 1 to the Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Act 2012 . |
1 July 2013 |
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8. Schedule 1, item 12 |
The day after this Act receives the Royal Assent. |
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9. Schedule 1, items 13 to 15 |
1 July 2013. |
1 July 2013 |
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10. Schedule 1, items 16 and 17 |
The day this Act receives the Royal Assent. |
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11. Schedule 1, items 18 and 19 |
The later of: (a) the day after this Act receives the Royal Assent; and (b) the day after item 2 of Schedule 1 to the Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 commences. |
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12. Schedule 1, item 20 |
1 July 2013. |
1 July 2013 |
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13. Schedule 1, items 21 and 22 |
The later of: (a) the day after this Act receives the Royal Assent; and (b) the day after item 2 of Schedule 1 to the Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 commences. |
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14. Schedule 1, item 23 |
1 July 2013. |
1 July 2013 |
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15. Schedule 1, items 24 and 25 |
The day after this Act receives the Royal Assent. |
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16. Schedule 1, items 26 to 37 |
1 July 2013. |
1 July 2013 |
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17. Schedule 1, items 38 to 42 |
The later of: (a) the day after this Act receives the Royal Assent; and (b) the day after item 2 of Schedule 1 to the Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 commences. |
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18. Schedule 1, item 43 |
Immediately after the commencement of Schedule 1 to the Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Act 2012 . |
1 July 2013 |
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19. Schedule 1, items 44 to 47 |
The later of: (a) the day after this Act receives the Royal Assent; and (b) the day after item 2 of Schedule 1 to the Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 commences. |
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20. Schedule 1, items 48 to 61 |
1 July 2013. |
1 July 2013 |
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21. Schedule 1, items 62 to 69 |
Immediately after the commencement of Schedule 1 to the Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Act 2012 . |
1 July 2013 |
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22. Schedule 1, item 70 |
1 July 2013. However, if item 9 of Schedule 3 to the Superannuation Legislation Amendment (Reducing Illegal Early Release and Other Measures) Act 2012 commences on 1 July 2013, the provision(s) do not commence at all. |
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23. Schedule 1, item 71 |
Immediately after the commencement of item 9 of Schedule 3 to the Superannuation Legislation Amendment (Reducing Illegal Early Release and Other Measures) Act 2012 . However, if item 9 of Schedule 3 to the Superannuation Legislation Amendment (Reducing Illegal Early Release and Other Measures) Act 2012 does not commence on 1 July 2013, the provision(s) do not commence at all. |
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24. Schedule 1, items 72 to 110 |
1 July 2013. |
1 July 2013 |
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25. Schedule 1, item 111 |
Immediately after the commencement of Schedule 7 to the Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012. |
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26. Schedule 1, items 112 to 115 |
1 July 2013. |
1 July 2013 |
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27. Schedule 1, item 116 |
The later of: (a) the day after this Act receives the Royal Assent; and (b) the day after item 7 of Schedule 1 to the Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 commences. |
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28. Schedule 1, item 117 |
Immediately after the commencement of Schedule 7 to the Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012. |
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29. Schedule 1, items 118 and 119 |
The later of: (a) the day after this Act receives the Royal Assent; and (b) the day after Schedule 6 to the Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012 commences. |
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30. Schedule 1, item 120 |
The day this Act receives the Royal Assent. |
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31. Schedule 1, items 121 to 123 |
The later of: (a) the day after this Act receives the Royal Assent; and (b) the day after items 12 and 13 of Schedule 1 to the Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 commence. |
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32. Schedule 1, items 124 to 128 |
1 July 2013. |
1 July 2013 |
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33. Schedule 1, item 129 |
The day this Act receives the Royal Assent. |
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Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.