Senate debates

Thursday, 29 November 2012

Bills

Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Bill 2012; First Reading

7:52 pm

Photo of John HoggJohn Hogg (President) Share this | Hansard source

The question now is that amendments (1) to (3) on sheet 7323, circulated by the opposition, be agreed to:

(1) Schedule 4, item 5, page 54 (line 22), omit "for defined benefit members".

(2) Schedule 4, item 5, page 54 (before line 23), before subsection 149A(1), insert:

(1A) A modern award must include a term that permits an employer covered by the award to make contributions, for the benefit of an employee covered by the award who is a default fund employee, to any superannuation fund that offers a MySuper product.

  Note: An employer may make contributions under this term even if the superannuation fund to which the contributions are made is not specified in the modern award.

(3) Schedule 4, item 6, page 55 (line 20), omit "section 149A", substitute "subsection 149A(1)".

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