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Wednesday, 8 August 2001
Page: 29457

Bill returned from Main Committee with amendments; certified copy of bill and schedule of amendments presented.

Ordered that the bill be taken into consideration forthwith.

Main Committee's amendment's—

(1) Clause 2, page 2 (lines 1 to 4), omit subclauses (2) and (3), substitute:

(2) Schedules 1 to 3 commence on the same day as Parts 2 to 4 of the Financial Sector (Collection of Data) Act 2001.

(2) Schedule 2, page 18 (after line 5), after item 92, insert:

92A Subsection 182(4)

After “regulations”, insert “, and of the Financial Sector (Collection of Data) Act 2001,”.

(3) Schedule 2, items 95 and 96, page 19 (lines 4 to 9), omit the items.

(4) Schedule 2, item 123, page 22 (lines 9 to 11), omit the item.

(5) Schedule 2, page 23 (after line 3), after item 130, insert:

130A After paragraph 111(1)(a)

Insert:

(aa) if the entity is not a self managed superannuation fund—so keep its accounts as to enable the preparation of reporting documents referred to in section 13 of the Financial Sector (Collection of Data) Act 2001; and

(6) Schedule 2, item 131, page 23 (lines 4 to 8), omit the item, substitute:

131 At the beginning of paragraph 111(1)(b)

Insert “if the entity is a self managed superannuation fund—”.

(7) Schedule 2, page 23 (after line 8), after item 131, insert:

131A Subparagraph 111(1)(b)(ii)

Omit “36”, substitute “36A”.

(8) Schedule 2, item 132, page 23 (lines 9 and 10), omit the item, substitute:

132 Subsection 112(1)

After “superannuation entity”, insert “that is a self managed superannuation fund”.

(9) Schedule 2, page 23 (after line 10), before item 133, insert:

132A Before paragraph 113(3)(a)

Insert:

(aa) must, if it is approved for a superannuation entity that is not a self managed superannuation fund, either:

(i) relate solely to the audit of financial statements given to APRA under the Financial Sector (Collection of Data) Act 2001 and prepared in respect of a year of income; or

(ii) relate not only to the audit of those statements, but also to the audit of such other accounts and statements, prepared in respect of a year of income, as are identified in the form; and

(10) Schedule 2, item 133, page 23 (lines 11 to 15), omit the item substitute:

133 Paragraph 113(3)(a)

After “must”, insert “, if it is approved for a superannuation entity that is a self managed superannuation fund—”.

(11) Schedule 2, item 140, page 24 (lines 4 to 7), omit the item.

(12) Schedule 2, page 24 (after line 13), after item 142, insert:

142A Subsection 252G(2) (note)

Omit “section 36”, substitute “the Financial Sector (Collection of Data) Act 2001”.

(13) Schedule 2, item 146, page 24 (lines 27 and 28), omit the item, substitute:

146 At the end of section 347A

Add:

(13) In this section:

Regulator means the Commissioner of Taxation.

(14) Schedule 2, page 24 (before line 29), before item 147, insert:

146A At the end of section 348

Add:

(4) In this section:

Regulator means the Commissioner of Taxation.

Amendments agreed to.

Bill, as amended, agreed to.