House of Representatives
Superannuation Legislation Amendment (Further MySuper and Transparency Measures) 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: Fees and costs
| Bill reference | Paragraph number |
| Item 18, subparagraph 29SAC(1)(a)(i) | 1.13 |
| Item 18, subparagraph 29SAC(1)(a)(ii) | 1.14 |
| Item 18, subsection 29SAC(3) | 1.16 |
| Item 18, subsection29SAC(3) | 1.17 |
| Item 18, paragraphs 29SAC(1)(b) and 29SAC(1)(c) | 1.20 |
| Item 18, subsection 29SAC(1) | 1.12 |
| Item 19, paragraph 29T(1)(i) and Schedule 1, item 20, paragraph 29U(2)(d)) | 1.56 |
| Item 20, paragraph 29U(2)(d) | 1.54 |
| Item 21, paragraph 29U(2)(k) | 1.19 |
| Items 23 - 30, section 29V | 1.72 |
| Item 31, subsection 29V(8) | 1.57 |
| Item 33, subsection 29VA(10) | 1.61 |
| Item 33, subsection 29VA(9) | 1.59 |
| Item 34, section 99A | 1.55 |
| Item 35, subsection 29VB(5) | 1.76 |
| Item 35, paragraph 29VB(5)(b) | 1.78 |
| Item 36, section 29VD | 1.21 |
| Item 36, subsection 29VD(1) | 1.23 |
| Item 36, subsections 29VD(3) - (7) | 1.24 |
| Item 36, subsection 29VD(3) | 1.25 |
| Item 36, subsection 29VD(4) | 1.27 |
| Item 36, subsection 29VD(5) | 1.29 |
| Item 36, subsection 29VC | 1.64, 1.65 |
| Item 36, subsection 29VD(6) | 1.31 |
| Item 36, subsection 29VD(7) | 1.33 |
| Item 36, subsection 29VD(8) | 1.39 |
| Item 37, paragraphs 31(2)(da) and 31(2)(db) | 1.73 |
| Item 38, section 33A | 1.74 |
| Item 40, subsection 99F(3) | 1.49 |
| Item 40, subsection 99F(4) | 1.50 |
| Item 40, subparagraph 99F(1)(c)(v) | 1.51 |
| Item 40, subsection 99B(1) | 1.66 |
| Item 40, subsection 99C(1) | 1.67 |
| Item 40, subsection 99C(2) | 1.69 |
| Item 40, section 99D | 1.70 |
| Item 40, subsection 99E | 1.71 |
| Item 40, paragraph 99F(1)(a) | 1.52 |
| Item 40, subsection 99F(1) | 1.43 |
| Item 40, subparagraph 99F(1)(c)(iv) | 1.44 |
| Item 40, subparagraph 99F(1)(c)(ii) | 1.46 |
| Item 40, subsection 99F(2) | 1.47 |
| Item 41 | 1.79, 1.81 |
Schedule 2: Provision of benefits
| Bill reference | Paragraph number |
| Item 1, paragraphs 32C(2)(d) and (e) | 2.13 |
| Item 3, subsection 10(1) | 2.16 |
| Item 5, paragraphs 31(2)(ea) and (eb) | 2.24, 2.27 |
| Item 5, paragraph 31(2)(ea) | 2.25 |
| Item 5, paragraph 31(2)(eb) | 2.28 |
| Item 6, subsection 68AA(6) | 2.20 |
| Item 6, subsections 68AA(7) and (8) | 2.21 |
| Item 6, subsection 68AA(9) | 2.23 |
| Item 6, subsection 68AA(1) | 2.15 |
| Item 6, section 68AA | 2.14 |
| Item 6, subsections 68AA(3) - (5) | 2.17 |
| Item 7 | 2.29, 2.30 |
Schedule 3: Collection and disclosure of information
| Bill reference | Paragraph number |
| Items 1 and 2, subsection 56(1) | 3.33 |
| Item 4, subsection 57(2) | 3.16 |
| Item 4, subsection 57(3) | 3.17 |
| Item 4, paragraph 57(4)(a) | 3.18 |
| Item 4, paragraph 57(4)(b) | 3.19 |
| Item 4, subsection 57(1) | 3.15 |
| Item 8, paragraphs 1017BA(1)(a), (b), (c) and (d) | 3.41 |
| Item 8, subsections 1017BA(2) and(3) | 3.42 |
| Item 8, paragraphs 1017BA(1)(c) and (d) | 3.44 |
| Item 8, paragraph 1017BA(1)(e) | 3.45 |
| Item 8, subsection 1017BA(5) | 3.46 |
| Item 8, subsection 1017BA(4) | 3.53 |
| Item 8, section 1017BB | 3.62 |
| Item 8, subsections 1017BB(1) and (3) | 3.63 |
| Item 8, subsection 1017BB(2) | 3.65 |
| Item 8, paragraphs 1017BB(1)(a) and (b) | 3.69 |
| Item 8, subsections 1017BC(1) and (2) | 3.71 |
| Item 8, paragraph 1017BC(2)(b) | 3.72 |
| Item 8, subsection 1017BC(1) | 3.73 |
| Item 8, subsection 1017BC(3) | 3.74 |
| Item 8, sections 1017BD and 1017BE | 3.75 |
| Item 8, sections 1017BC, 1017BD and 1017BE | 3.76 |
| Item 8, subsections 1017BC(2) and (3) | 3.81 |
| Item 9, paragraph 1020E(1)(c), item 10, paragraph1020E(2)(c), item 11, paragraph 1020E(7)(a) and item 12, paragraphs 1020E(11)(c) | 3.47 |
| Item 14, subsection 1021NA(1) | 3.48 |
| Item 14, subsections 1021NA(2) and(3) | 3.49 |
| Item 14, subsection 1021NA(4) | 3.50 |
| Item 14, subsection 1021NA(5) | 3.51 |
| Item 14, subsections 1021NB(1) and (5) | 3.82 |
| Item 14, subsection 1021NB(2) | 3.84 |
| Item 14, subsection 1021NB(3) | 3.85 |
| Item 14, subsection 1021NB(6) | 3.87 |
| Item 14, subsection 1021NB(7) | 3.88 |
| Item 14, subsection 1021NC(1) | 3.89 |
| Item 14, subsection 1021NC(2) | 3.90 |
| Item 14, subsection 1021NC(3) | 3.91 |
| Item 14, subsections 1021NC(4) and (5) | 3.92 |
| Item 14, subsection 1021NC(6) | 3.94 |
| Item 14, subsection 1021NC(7) | 3.95 |
| Item 15, paragraph 1022B(1)(f) and Schedule 3, item 16, paragraph 1022B(2)(f) and Schedule 3, item 18, paragraph 1022B(3)(e) and Schedule 3, item 19, subsections 1022B(7B) and (7C) | 3.52 |
| Item 22, section 1541 | 3.79 |
| Item 22, subsection 1541(3) | 3.83 |
| Item 22, section 1539 | 3.99 |
| Item 26, paragraph 3(1)(aa) | 3.34, 3.35 |
| Item 29, paragraph 13(4B)(a) | 3.26 |
| Item 29, paragraph 13(4B)(c) | 3.27 |
| Item 29, paragraph 13(4B)(d) | 3.28 |
| Item 29, subsection 13(4A) | 3.23 |
| Item 29, paragraphs 13(4A)(a) and (b) | 3.24 |
| Item 29, paragraphs 13(4A)(c),(d) and (e) | 3.25 |
| Items 31 and 33, section 31 | 3.31 |
| Items 32, and 34 - 37, section 31 | 3.32 |
| Item 40, subsection 10(1) | 3.54 |
| Item 42, paragraph 29QB(1)(a) | 3.55 |
| Item 42, paragraph 29QB(1)(b) | 3.56 |
| Item 42, subsections 29QB(2) and (3) and Schedule 3, item 39, subparagraph 6(1)(c)(ia) | 3.58 |
| Item 42, subsection 29QC(1) | 3.59 |
| Item 42, subsections 29QC(2) and (3) and Schedule 3, item 39, subparagraph 6(1)(c)(ia) | 3.61 |
| Item 44, subsection 348A(3) | 3.39 |
| Item 44, paragraph 348A(1)(a), (b) and (c) | 3.36 |
| Item 44, paragraph 348A(1)(d) | 3.37 |
| Item 44, subsection 348A(2) | 3.38 |
| Item 45 | 3.96 |
| Item 46 | 3.97 |
| Item 47 | 3.98 |
Schedule 4: Modern awards and enterprise agreements
| Bill reference | Paragraph number |
| items 1, 2, 3 and 4, section 12 | 4.15 |
| Item 5, section 149A | 4.29 |
| Item 6, paragraph 155A(1)(b) | 4.17 |
| Item 6, subsections 155A(2)-(5) | 4.27 |
| Item 6, subsection 155A(1) | 4.16, 4.19 |
| Item 8, schedule 1, clause 9 | 4.18, 4.31 |
| Item 8, clause 11 | 4.21, 4.23, 4.24 |
| Item 8, Schedule 1, clause 10 | 4.32 |
| Item 8, paragraph 194(h) | 4.33 |
| Item 8, clause 12 | 4.34 |
| Item 8, clause 8 | 4.36 |
| Item 9, subsection 12A(1) and Schedule 4, item 10, subsection 32C(6) | 4.38, 4.39 |
| Items 11, section 29U and item 12, section 29XC | 4.26 |
| Item 13 | 4.37 |
Schedule 5: Defined benefit members
| Bill reference | Paragraph number |
| Item 2, section 6AA and Schedule 5, item 4, subsection 10(1A) | 5.17 |
| Item 3, subsection 19(2CA) | 5.12 |
| Item 5 | 5.20 |
| Item 7, subparagraph 29TB(1)(d)(i) and Schedule 5, item 6, subparagraph 29TB(1)(d)(ii) | 5.16 |
| Item 10, paragraph 29WA(1)(a) | 5.14 |
Schedule 6: Moving accrued default amounts
| Bill reference | Paragraph number |
| Item 3, subsection 10(1) | 6.10 |
| Item 4, subparagraph 20B(1)(b)(i) | 6.11 |
| Item 4, subparagraph 20B(1)(b)(ii) | 6.12 |
| Item 4, subsections 20B(2), (3) and (4) | 6.13 |
| Item 5, subsection 29E(6B) | 6.25, 6.31 |
| Item 6, paragraph 29S(2)(f) | 6.16 |
| Item 7, subparagraph 29SAA(1)(a)(i) | 6.18 |
| Item 7, paragraph 29SAA(1)(b) and subsection 29SAA(2) | 6.21 |
| Item 7, subsection 29SAA(3) | 6.23 |
| Item 7, section 29SAA | 6.14, 6.20 |
| Item 7, section 29SAB | 6.28 |
| Item 7, paragraph 29SAB(a) | 6.29, 6.30 |
| Item 7, paragraphs 29SAB(b) and (c) | 6.32 |
| Item 8, paragraph 29U(2)(j) | 6.24 |
| Item 9, section 29XB | 6.26 |
| Item 9, section 29X | 6.39 |
| Item 9, paragraphs 29X(b) and (c) | 6.40 |
| Item 10, section 55B | 6.27, 6.33 |
| Item 12, paragraph 193(l) and item 13, section 388 | 6.34 |
| Item 13, subsection 388(1) | 6.35 |
| Item 13, subsection 388(3) | 6.36 |
| Item 13, subsection 388(2) | 6.37 |
| Item 13, paragraph 387(1)(a) | 6.17 |
| Item 13, section 387 | 6.19 |
| Item 13, section 389 | 6.41 |
| Item 13, section 390 | 6.43 |
Schedule 7: Eligible rollover funds
| Bill reference | Paragraph number |
| Item 1, subsection 10(1) | 7.13 |
| Item 2, paragraph 10(1)(b) | 7.36 |
| Item 3, paragraph 10(1)(b) | 7.34 |
| Item 15, subsection 242A(5) | 7.17 |
| Item 15, section 242D | 7.22 |
| Item 15, paragraph 242E(1)(a), subsection 242E(2) and section 393 | 7.23 |
| Item 15, paragraph 242E(1)(b) | 7.24 |
| Item 15, subsection 242E(2) | 7.25 |
| Item 15, subsection 242E(4) | 7.26 |
| Item 15, section 242F | 7.27 |
| Item 15, subsection 242F(2) and item 4, paragraph 10(1)(ua) | 7.28 |
| Item 15, sections 242G and 392 | 7.29 |
| Item 15, section 242H | 7.30 |
| Item 15, subsections 242J(1) and 242J(2) | 7.31 |
| Item 15, subsection 242J(3) | 7.32 |
| Item 15, section 242K | 7.33 |
| Item 15, subsections 242A(1) and 242A(2) | 7.14 |
| Item 15, section 242M | 7.35 |
| Item 15, subsections 242A(3) and 242A(4) | 7.16 |
| Item 15, subsection 242M(2) | 7.37 |
| Item 15, section 242N | 7.39 |
| Item 15, section 242P | 7.40 |
| Item 17, subsection 394(1) | 7.44 |
| Item 17, paragraph 394(2)(a) | 7.45 |
| Item 17, section 393 | 7.47 |
| Item 17, subsection 394(2) | 7.48 |
| Item 17, subsection 394(3) | 7.49 |
| Item 17, subsection 394(4) | 7.50 |