House of Representatives
Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Bill 2012
Explanatory Memorandum
(Circulated by the authority of the Minister for Employment and Workplace Relations and Minister for Financial Services and Superannuation, the Hon Bill Shorten MP)Index
Schedule 1: Trustee obligations
| Bill reference | Paragraph number |
| Item 2, subsection 10(1) | 1.14 |
| Item 3, subsection 10(1) and item 9, subsection 29VO(3) | 1.130 |
| Item 4, paragraph 29D(1)(g); item 5, section 29DA and item 6, subsection 29E(3) | 1.106 |
| Item 7, paragraph 29T(1)(ha) | 1.34 |
| Item 8, paragraph 29U(2)(ca) | 1.35 |
| Item 9, subparagraph 29VN(b)(i) | 1.23 |
| Item 9, subparagraph 29VN(b)(ii) | 1.24 |
| Item 9, subparagraphs 29VN(b)(iii) and (iv)) | 1.25, 1.26 |
| Item 9, paragraphs 29VN(a) and (c) | 1.27 |
| Item 9, paragraph 29VN(d) | 1.28, 1.29, 1.31 |
| Item 9, subsection 29VO(1) | 1.32 |
| Item 9, subsections 29VO(2) and (3) | 1.33 |
| Item 9, section 29VN | 1.13 |
| Item 9, paragraph 29VN(a) | 1.15, 1.16, 1.17, 1.18, 1.19, 1.20 |
| Item 9, section 29VP | 1.36, 1.37 |
| Item 9, section 29VQ | 1.39 |
| Item 9, paragraph 29VN(b) | 1.21 |
| Item 9, subparagraphs 29VN(b)(i) and (ii) | 1.22 |
| Item 11, section 51A | 1.43 |
| Item 12, paragraph 52(2)(a) | 1.47 |
| Item 12, paragraph 52(2)(c) | 1.47 |
| Item 12, paragraph 52(2)(g) | 1.47 |
| Item 12, paragraph 52(2)(h) | 1.47 |
| Item 12, subsection 52(5) | 1.47 |
| Item 12, paragraph 52(2)(i) | 1.47 |
| Item 12, paragraph 52(2)(j) | 1.47 |
| Item 12, paragraph 52(2)(d) | 1.51, 1.57 |
| Item 12, subparagraph 52(2)(d)(i) | 1.52 |
| Item 12, subparagraph 52(2)(d)(ii) | 1.53 |
| Item 12, subparagraph 52(2)(d)(iii) | 1.54 |
| Item 12, subparagraph 52(2)(d)(iv) | 1.55 |
| Item 12, subsection 52(4) | 1.56 |
| Item 12, paragraphs 52(2)(e) and (f) | 1.60 |
| Item 12, paragraph 52(2)(b) | 1.62, 1.64 |
| Item 12, subsection 52(3) | 1.63 |
| Item 12, paragraph 52(6)(a) | 1.67, 1.71 |
| Item 12, subparagraphs 52(6)(a)(iv), (vi) and (vii) | 1.68 |
| Item 12, subparagraph 52(6)(a)(i) | 1.69 |
| Item 12, subparagraph 52(6)(a)(ii) | 1.69, 1.70 |
| Item 12, subparagraph 52(6)(a)(iii) | 1.69 |
| Item 12, subparagraph 52(6)(a)(v) | 1.69 |
| Item 12, subparagraph 52(6)(a)(vii) | 1.72 |
| Item 12, subparagraph 52(6)(a)(vi) | 1.73 |
| Item 12, subparagraph 52(6)(a)(iv) | 1.74 |
| Item 12, subparagraph 52(6)(a)(viii) | 1.75 |
| Item 12, paragraph 52(6)(b) | 1.78 |
| Item 12, paragraph 52(6)(c) | 1.87, 1.88, 1.89 |
| Item 12, paragraph 52(7)(a) | 1.92, 1.94 |
| Item 12, subparagraph 52(7)(a)(i) | 1.93 |
| Item 12, subparagraph 52(7)(a)(ii) | 1.93 |
| Item 12, subparagraph 52(7)(a)(iii) | 1.93 |
| Item 12, subparagraph 52(7)(a)(iv) | 1.93 |
| Item 12, paragraphs 52(7)(b) and (c) | 1.95, 1.96, 1.97 |
| Item 12, paragraph 52(7)(d) | 1.98 |
| Item 12, paragraph 52(8)(b) | 1.102, 1.104, 1.105 |
| Item 12, subsection 52(1) | 1.45 |
| Item 12, paragraph 52(8)(a) | 1.116 |
| Item 12, section 52A | 1.124 |
| Item 12, subsection 52A(2) | 1.125 |
| Item 12, subsection 52A(1) | 1.126 |
| Item 12 , paragraph 52A(2)(d) | 1.127 |
| Item 12, subsection 52A(3) | 1.128 |
| Item 12, paragraph 52A(2)(b) | 1.129 |
| Item 12, subsection 52(2) | 1.46 |
| Item 12, paragraph 52A(2)(b) and item 9, subsection 29VO(3) | 1.132, 1.133 |
| Item 12, paragraph 52A(2)(a) | 1.134 |
| Item 12, paragraph 52A(2)(c) | 1.134 |
| Item 12, paragraph 52A(2)(e) | 1.134 |
| Item 12, paragraph 52A(2)(f) | 1.135 |
| Item 12, subsection 52A(5) | 1.136 |
| Item 12, subsection 52A(6) | 1.137 |
| Item 12, section 52A | 1.138 |
| Item 12, section 52 | 1.141 |
| Item 12, paragraph 52B(2)(f) | 1.143 |
| Item 12, paragraph 52B(2)(g) | 1.143 |
| Item 12, paragraph 52B(2)(c) | 1.143 |
| Item 12, section 52C | 1.144 |
| Item 13, section 54A | 1.49 |
| Item 14, subsection 55(6) | 1.84, 1.85 |
| Item 14, subsection 55(5) | 1.81, 1.82, 1.83 |
| Item 15, subsection 55(7) | 1.38 |
| Item 18, paragraph 56(2A)(a); item 16, subsection 56(1); and item 17, paragraph 56(1)(b) | 1.112 |
| Item 18, paragraph 56(2A)(a) | 1.114 |
| Item 18, paragraph 56(2A)(b) | 1.115 |
| Item 19, paragraph 58(2)(d) | 1.90 |
| Item 20, section 115 | 1.110, 1.111 |
Schedule 2: Prudential standards
| Bill reference | Paragraph number |
| Item 1, subsection 34C(1) | 2.9 |
| Item 1, subsection 34C(2) | 2.11 |
| Item 1, subsection 34C(3) | 2.12 |
| Item 1, subsection 34C(5) | 2.13 |
| Item 1, paragraph 34C(4)(a) | 2.15 |
| Item 1, paragraph 34C(4)(b) | 2.15 |
| Item 1, paragraph 34C(4)(c) | 2.15 |
| Item 1, paragraph 34C(4)(d) | 2.15 |
| Item 1, paragraph 34C(4)(e) | 2.15 |
| Item 1, paragraph 34C(4)(f) | 2.15 |
| Item 1, paragraph 34C(4)(g) | 2.15 |
| Item 1, paragraph 34C(4)(h) | 2.15 |
| Item 1, subsection 34C(6) | 2.24 |
| Item 1, subsection 34C(7) | 2.25 |
| Item 1, subsection 34C(8) | 2.26 |
| Item 1, subsections 34C(7) and (8) | 2.27 |
| Item 1, subsection 34C(9) | 2.28 |
| Item 1, subsection 34C(10) | 2.32 |
| Item 1, subsections 34D(1) and (2) | 2.33 |
| Item 1, subsection 34E(1) | 2.36 |
| Item 1, subsection 34E(2) | 2.37 |
| Item 1, section 34F | 2.42 |
| Item 3, subparagraph 6(1)(a)(i) | 2.44 |
| Item 4, subsection 10(1) | 2.10 |
| Item 4, subsection 10(1) | 2.45 |
| Item 5, subsection 10(1) | 2.46 |
| Item 6, subsection 10(1) | 2.47 |
| Items 7 and 8, subsection 10(1); item 26, section 29JC; item 27, section 29JD and item 33, Division 6 of Part 2B) | 1.120 |
| Item 9, paragraph 10(1)(doc) | 2.30, 2.48 |
| Item 10, paragraph 10(1)(aa) | 2.38, 2.49 |
| Item 11, subsection 10(1) | 2.50 |
| Items 14 and 15, subsection 29A(2); item 21, paragraph 29D(1)(e); and item 22, paragraphs 29E(1)(c) and (e) | 1.117 |
| Items 16 to 19, section 29C; items 28 to 31, section 29L and item 32, paragraph 29M(1)(d) | 1.121 |
| Item 20, paragraph 29D(1)(d) | 2.52 |
| Item 23, subsection 29EA(2A) | 2.35 |
| Item 25, Division 8 of Part 2A; and Schedule 2, item 33, Division 5 of Part 2B | 1.118 |
| Items 35 and 36, paragraphs 35C(5)(c) and (d) | 1.122 |