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Wednesday, 3 June 1987
Page: 3851

Mr HURFORD (Minister for Community Services and Minister Assisting the Treasurer)(10.04) —The Government is not able to accept the amendments. The regulations are very important to the Occupational Superannuation Standards Bill. I addressed the problems raised by the Life Underwriters Association of Australia in responding to the second reading debate yesterday in as much as I pointed out that it was mainly concerned with taxation provisions which apply at present. It was seeking more help in the Income Tax Assessment Act for those selling life assurance policies. That would be considered separately outside the consideration of this Bill. It would be considered in the context of the Income Tax Assessment Act and reforms to it. Therefore, I hope that the Opposition will recognise that we will be giving attention to the points raised by the Life Underwriters Association and that this is not the occasion to address those problems.

Amendments negatived.

Clauses agreed to.

Clause 7 (Operating standards for superannuation funds).