Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012 (171 of 2012)

Schedule 3   Collection and disclosure of information

Part 1   Amendments

Corporations Act 2001

22   At the end of Chapter 10

Add:

Part 10.22 - Transitional provisions relating to the Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012

1539 Application of section 1017BA (Obligation to make product dashboard publicly available)

Section 1017BA applies:

(a) to the extent that it relates to MySuper products - on and after 1 July 2013; and

(b) to the extent that it relates to choice products - on and after 1 July 2014.

1540 Application of subsection 1017BB(1) (Obligation to make information relating to investment of assets of superannuation entities publicly available)

Subsection 1017BB(1) applies in relation to the reporting day that is 31 December 2013 and to later reporting days.

1541 Application of section 1017BC (Obligation to provide information relating to investment of assets of superannuation entities)

(1) Section 1017BC applies in relation to arrangements entered into on or after this Act receives the Royal Assent.

(2) In any proceedings against a trustee of a registrable superannuation entity for an offence based on subsection 1021NB(1), it is a defence if the information would have been made publicly available but for the fact that the information was not provided to the trustee because, under this section, section 1017BC did not apply to a particular arrangement.

Note: A defendant bears an evidential burden in relation to the matters in subsection (2). See subsection 13.3(3) of the Criminal Code.

(3) In any proceedings against a trustee of a registrable superannuation entity for an offence based on subparagraph 1021NB(2)(d)(ii) or (3)(d)(ii), it is a defence if there would not have been an omission from the information made publicly available but for the fact that the information omitted was not provided to the trustee because, under this section, section 1017BC did not apply to a particular arrangement.

Note: A defendant bears an evidential burden in relation to the matters in subsection (3). See subsection 13.3(3) of the Criminal Code.