Superannuation Laws Amendment (Strengthening Trustee Arrangements) Bill 2017

Type
Government
Portfolio
Treasury
Originating house
Senate
Status
Before Senate
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 (RSE) 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.

Progress

Senate
Introduced and read a first time 14 Sep 2017
Second reading moved 14 Sep 2017
Second reading debate 15 Nov 2017
Second reading debate 16 Nov 2017
Second reading debate 04 Dec 2017

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

Senate

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Schedules of amendments

No documents at present

Bills digest

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Notes

Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.