Rex Patrick (SA, Independent) Share this | Hansard source

by leave—I move amendment (1):

(1) Clause 2, page 2 (table item 6), omit the table item.

I also oppose schedule 3 in the following terms:

(2) Schedule 3, page 29 (line 1) to page 34 (line 17), to be opposed.

I know that the government's amendments that have just passed have removed some of the offensive parts of schedule 3. These amendments seek to remove the entirety of schedule 3.

Question negatived.

by leave—I move amendments (1) to (7) on sheet 1269 together:

(1) Schedule 1, item 17, page 8 (line 14), omit "1 July 2021", substitute "1 July 2022".

(2) Schedule 1, item 17, page 8 (line 15), omit "1 July 2021", substitute "1 July 2022".

(3) Schedule 1, item 24, page 10 (line 26), omit "1 July 2021", substitute "1 July 2022".

(4) Schedule 2, item 9, page 17 (after line 1), after paragraph 60B(a), insert:

(aa) a choice product; or

(5) Schedule 2, item 9, page 18 (after line 9), after subsection 60D(2), insert:

(2A) Regulations made for the purposes of subsection (1) must specify requirements that ensure that administration fees and expenses are taken into account in assessing the performance of Part 6A products and in comparing and benchmarking performance.

(6) Schedule 2, item 9, page 26 (lines 18 and 19), omit ", to the extent that it relates to Part 6A products that are MySuper products,".

(7) Schedule 2, item 10, page 27 (lines 3 to 9), omit subitem (1), substitute:

(1) Subject to subitem (2), the amendments made by this Schedule apply in relation to Part 6A products on and after 1 July 2023.

These amendments seek to delay the stapling until 1 July 2022. They also seek to include choice products in the performance test, because they are currently not in the performance test. They include administrative fees in the performance test. They also delay the performance testing commencing until 1 July 2023.