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Second Reading Speeches

Superannuation Laws Amendment (Strengthening Trustee Arrangements) Bill 2017

Type
Government
Portfolio
Treasury
Originating house
Senate
Status
Not Proceeding
Parliament no
45

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Summary

Introduced with the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 1) Bill 2017, the bill amends the:

Superannuation Industry (Supervision) Act 1993
to require registrable superannuation licensees to have at least one-third independent directors and for the Chair of the Board of directors to be one of these independent directors; and
Governance of Australian Government Superannuation Schemes Act 2011
to enable the trustee board of the Commonwealth Superannuation Corporation to comply with the new independence requirements.