Supplementary Explanatory Memorandum
(Circulated by authority of the Assistant Treasurer and Minister for Financial Services, the Hon Stephen Jones MP)General outline and financial impact
Faith-based products - Parliamentary Amendments
Outline
The Parliamentary amendments to the Bill remove the framework for a supplementary annual performance test for faith-based superannuation products from the Bill. This will enable the Government to consider the treatment of faith-based superannuation products as part of the broader review of the Your Future, Your Super reforms.
Date of effect
None.
Financial impact
Nil.
Human rights implications
The Parliamentary amendments do not raise any human rights issues. See Statement of Compatibility with Human Rights - Chapter 2.
Compliance cost impact
Nil.
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