Senate

Supplementary Explanatory Memorandum

(Circulated by authority of the Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator the Hon Jane Hume)

Chapter 2 - Statement of Compatibility with Human Rights

Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011

Treasury Laws Amendment (Putting Members' Interests First) Bill 2019

2.1 The Amendments to the Bill are compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.

Overview

2.2 The Amendments to the Bill amend Schedule 1 to the Bill to allow trustees to provide opt out insurance to new members aged under 25 years and new members with balances below $6,000 where the member is engaged in a dangerous occupation;

Human rights implications

2.3 These Amendments are compatible with human rights as they do not raise any human rights issues.

Conclusion

2.4 These Amendments are compatible with human rights as they do not raise any human rights issues.