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Second Reading Speeches

Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Not Proceeding
Parliament no
45

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Summary

Amends the:

Superannuation Industry (Supervision) Act 1993
to: prevent trustees from providing insurance on an opt out basis to members who are under 25 years old and begin to hold a new product on or after 1 October 2019, and to members who hold products with balances below $6000; and make amendments contingent on the commencement of the
Treasury Laws Amendment (2019 Measure No. 1) Act 2019
; and
Superannuation (Unclaimed Money and Lost Members) Act 1999
to make consequential amendments.