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Treasury Laws Amendment (Your Superannuation, Your Choice) Bill 2019

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8926

2019-2020

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

 

Treasury Laws Amendment (Your Superannuation, Your Choice) Bill 2019

 

 

(1)     Page 2 (after line 12), after clause 3, insert:

4   Review of amendments

             (1)  The Australian Prudential Regulation Authority ( APRA ) must conduct a review into the operation of the amendments made by this Act.

             (2)  Without limiting the matters that APRA may consider when conducting the review, the purpose of the review is to:

                     (a)  identify any unintended consequences of the amendments made by this Act on the operation of defined benefits schemes, including the ongoing viability and profitability of defined benefits schemes; and

                     (b)  consider whether amendments to the Superannuation Guarantee (Administration) Act 1992 or any other Act are necessary to rectify the unintended consequences identified under paragraph (a).

             (3)  In conducting the review, APRA must consult industry stakeholders.

             (4)  The review must be completed before the end of the period of 30 months beginning on the day this Act commences.

             (5)  APRA must give the Minister a writt en report of the review.

             (6)  The Minister must cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.

             (7)  In this section, Minister means the Minister administering the Superannuation Guarantee (Administration) Act 1992 .

[review of amendments]