Treasury Laws Amendment (Your Future, Your Super) Act 2021 (46 of 2021)
Schedule 2 Addressing underperformance in superannuation
Part 1 Main amendments
Superannuation Industry (Supervision) Act 1993
4 Subsection 6(1) (after table item 21)
Insert:
|
21A |
Part 6A, to the extent it is not covered by item 21B, 21C or 21D of this table |
annual performance assessments |
(a) ASIC, to the extent the provisions relate to disclosure or record-keeping (see subsection (2)); and (b) APRA, to the remaining extent |
|
21B |
Section 60E |
annual performance assessments - trustee to notify beneficiaries of fail assessment |
both APRA and ASIC |
|
21C |
Subsection 60F(2) |
annual performance assessments - consequence of 2 consecutive fail assessments |
both APRA and ASIC |
|
21D |
Subsections 60J(4), (5) and (6) |
formulas for ranking products - making information available on website |
the Commissioner of Taxation |