Footnotes
Chapter 1 - Introduction
[1]
Australian Government, Terms of reference – Super System Review, http://www.supersystemreview.gov.au/content/terms_of_reference.aspx
(accessed 27 February 2012).
[2]
Senator the Hon Nick Sherry, Former Minister for Superannuation and Corporate
Law, 'Expert Panel and Terms of Reference for Review into the Governance,
Efficiency and Structure and Operation of Australia's Superannuation System',
Media release 066, 29 May 2009.
[3]
Australian Government, Terms of reference – Super System Review, http://www.supersystemreview.gov.au/content/terms_of_reference.aspx
(accessed 27 February 2012).
[4]
Jeremy Cooper et al, Super System Review: Final Report; Part
two – Recommendation packages, 30 June 2010, p. iii.
[5]
Australian Government, Stronger Super – Government response, 16
December 2010, p. 3.
[6]
Australian Government, Stronger Super – Government response, pp
13 – 14.
[7]
Australian Government, Stronger Super – Government response, p.
11.
[8]
Australian Government, Stronger Super – Government response, p.
8.
[9]
Australian Government, Stronger Super – Government response, p.
5.
[10]
Stan Wallis, Financial System Inquiry Report, March 1997, Overview
and recommendations, p. 27.
[11]
Australian Government, Stronger Super, 2010, p. 3.
[12]
Recommendation 88, Wallis, Financial System Inquiry Report, p. 31.
[13]
Cooper et al, Super System Review: Final Report: Part one – Overview
and recommendations, p. 9.
[14]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter one, p. 7.
[15]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter one, p. 5.
[16]
Cooper et al, Super System Review: Final Report; Part two – Recommendation
packages, Chapter one p. 7.
[17]
Cooper et al, Super System Review: Final Report: Part one – Overview
and recommendations, p. 9.
[18]
Cooper et al, Super System Review: Final Report: Part one – Overview
and recommendations, p. 10.
[19]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter one, p. 6.
[20]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter one, pp 10 – 35.
[21]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter two, p. 43.
[22]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter two, p. 44.
[23]
Cooper et al, Super System Review: Final Report: Part one – Overview
and recommendations, p. 12.
[24]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter two, p. 47.
[25]
Cooper et al, Super System Review: Final Report: Part one – Overview
and recommendations, p. 12.
[26]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter two, p. 47.
[27]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter two, Recommendation 2.1; p. 48.
[28]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter one, Recommendation 1.6, p. 14.
[29]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter one, p. 13.
[30]
Australian Government, Stronger Super, p. 17.
[31]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper Core
Provisions) Bill 2011, paragraphs 1.9–1.11.
[32]
The Treasury, Stronger Super – 2. MySuper, http://strongersuper.treasury.gov.au/content/Content.aspx?doc=publications/information_pack/mysuper.htm
(accessed 28 February 2012).
[33]
The Treasury, Stronger Super – 2. MySuper, http://strongersuper.treasury.gov.au/content/Content.aspx?doc=publications/information_pack/mysuper.htm
(accessed 28 February 2012).
[34]
The Treasury, Stronger Super – 5. Governance, http://strongersuper.treasury.gov.au/content/Content.aspx?doc=publications/information_pack/mysuper.htm
(accessed 4 March 2012).
[35]
The Treasury, Stronger Super – 5. Governance, http://strongersuper.treasury.gov.au/content/Content.aspx?doc=publications/information_pack/mysuper.htm
(accessed 4 March 2012).
[36]
The Hon. Bill Shorten MP, Minister for Financial Services and
Superannuation, House of Representatives Hansard, 3 November 2011, pp
12683–12684.
[37]
See, for example, Australian Chamber of Commerce and Industry, Submission
6, pp 7–9; Mr Stephen Partridge, Product Leader, Outsourcing,
Mercer (Australia) Pty Ltd, Proof Committee Hansard, 2 March 2012, pp
39–40.
[38]
Mr Matthew Linden, Chief Policy Advisor, Industry Super Network, Proof Committee
Hansard, 2 March 2012, p. 9.
[39]
Australian Chamber of Commerce and Industry, Submission 6, p. 6.
[40]
Mr Andrew Bragg, Senior Policy Manager, Financial Services Council, Proof
Committee Hansard, 2 March 2012, p. 3.
[41]
Mr Linden, Industry Super Network, Proof Committee Hansard, 2 March
2012, p. 9.
[42]
Financial Planning Association of Australia, Submission 16, p. 1.
[43]
BT Financial Group, Submission 11, p. 1.
[44]
Colonial First State, Submission 10, p. 1.
[45]
Association of Financial Advisors Limited, Submission 15, p. 3.
[46]
Mr Gareth Hall, Treasurer, Corporate Super Specialist Alliance, Proof Committee
Hansard, 2 March 2012, p. 19.
[47]
Dr David Knox, Senior Partner, Mercer (Australia) Pty Ltd, Proof Committee
Hansard, 2 March 2012, p. 45.
Chapter 2 - Overview of the proposed legislation
[1]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper
Core Provisions) Bill 2011, p. 3.
[2]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill
2011, Item 1, clause 6.
[3]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper
Core Provisions) Bill 2011, paragraph 3.31.
[4]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill
2011, Schedule 1, item 9: Part 2C, Division 1, proposed section 29SB.
[5]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill
2011, Schedule 1, item 9: Part 2C, Division 1, proposed section 29SB.
[6]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill
2011, Schedule 1, item 12; Explanatory Memorandum, Superannuation Legislation
Amendment (MySuper Core Provisions) Bill 2011, paragraph 3.29.
[7]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill
2011, Schedule 1, item 9: Part 2C, Division 4, proposed section 29U.
[8]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill
2011, Schedule 1, item 9: Part 2C, Division 4, proposed section 29UA.
[9]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter one, pp 6 – 7.
[10]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011, Item
1, clause 4.
[11]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper Core
Provisions) Bill 2011, paragraph 5.12.
[12]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011,
Schedule 1, item 9: Part 2C, Division 3, section 29TC.
[13]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011,
Schedule 1, item 9: Part 2C, Division 3, subsection 29T(1)(f).
[14]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper Core
Provisions) Bill 2011, paragraph 3.33.
[15]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011,
Schedule 1, item 9: Part 2C, Division 3, proposed subsection 29TB(2).
[16]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper Core
Provisions) Bill 2011, paragraph 3.45.
[17]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper Core
Provisions) Bill 2011, paragraph 6.12.
[18]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper Core
Provisions) Bill 2011, paragraph 5.20.
[19]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper Core
Provisions) Bill 2011, paragraph 6.19.
[20]
Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011,
clause 2.
[21]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper Core
Provisions) Bill 2011, paragraph 3.59.
[22]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper Core
Provisions) Bill 2011, paragraph 2.14.
[23]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper Core
Provisions) Bill 2011, paragraph 2.15.
[24]
Commonwealth Attorney-General's Department, A guide to framing Commonwealth
criminal offences, infringement notices and enforcement powers, September
2011, p. 25.
[25]
Mr Adam Hawkins, Policy Analyst, Financial Systems Division, Treasury, Proof
Committee Hansard, 2 March 2012, p. 66.
[26]
Senate Standing Committee for the Scrutiny of Bills, Alert Digest No.
14 of 2011, 23 November 2011, p. 36.
[27]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, Schedule 1.
[28]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, Schedule 2.
[29]
At present, paragraph 52(2)(b) of the Superannuation Industry
(Supervision) Act refers to same degree of care, skill and diligence as an
ordinary prudent person would exercise...'. The EM notes that this amendment
brings the standard of care, skill and diligence 'into line with the existing
State and Territory trustee legislation applying to professional trustees'. Explanatory
Memorandum, Superannuation Legislation Amendment (Trustee Obligations and
Prudential Standards) Bill 2012, paragraph 1.62.
[30]
The Hon Bill Shorten MP, Second Reading Speech, Superannuation Legislation
Amendment (Trustee Obligations and Prudential Standards) Bill 2012, House of
Representatives Hansard, 16 February 2012, p. 3.
[31]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, proposed sections 29VO and 52A.
[32]
Explanatory Memorandum, Superannuation Legislation Amendment (Trustee
Obligations and Prudential Standards) Bill 2012, paragraph 1.133.
[33]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, clause 2.
[34]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter ten, p. 310.
[35]
Cooper et al, Super System Review: Final Report; Part two –
Recommendation packages, Chapter ten, p. 310.
[36]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, proposed subsection 34C(4).
[37]
Explanatory Memorandum, Superannuation Legislation Amendment (Trustee
Obligations and Prudential Standards) Bill 2012, paragraph 1.145 and 2.43.
[38]
Sunsuper, Submission 4, p. 2.
[39]
Dr David Knox, Senior Partner, Mercer (Australia) Pty Ltd, Proof Committee
Hansard, 2 March 2012, p. 37.
[40]
Dr Knox, Mercer (Australia) Pty Ltd, Proof Committee Hansard,
2 March 2012, p. 37.
[41]
Ms Pauline Vamos, Chief Executive Officer, Association of Superannuation
Funds of Australia, Committee Hansard, 2 March 2012, p. 30.
[42]
Mr David Haynes, Project Director, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, p. 47.
[43]
Mr Haynes, Australian Institute of Superannuation Trustees, Proof Committee
Hansard,
2 March 2012, p. 47.
[44]
The Hon Bill Shorten MP, Minister for Financial Services and
Superannuation, 'Government super reforms mean more money in retirement', Media
release 024, 16 December 2010.
[45]
The Treasury, Stronger Super – Consultation, http://strongersuper.treasury.gov.au/content/Content.aspx?doc=consultation.htm
(accessed 5 March 2012).
[46]
Explanatory Memorandum, Superannuation Legislation Amendment (Trustee
Obligations and Prudential Standards) Bill 2012, pp 4–5.
[47]
See, for example, the Association of Superannuation Funds of Australia, Submission
12, p. 2; Association of Financial Advisors, Submission 15, p. 3
[48]
Financial Services Council, Submission 3, p. 3.
[49]
Australian Institute of Superannuation Trustees, Submission 9, p.
1.
[50]
Mrs Elizabeth Goddard, Research Officer, Corporate Super Association, Proof
Committee Hansard, 2 March 2012, p. 26.
[51]
See, for example, Ms Pauline Vamos, Chief Executive Officer, Association
of Superannuation Funds of Australia, Committee Hansard, 2 March 2012,
p. 32; Mr Gareth Hall, Treasurer, Corporate Super Specialist Alliance, Committee
Hansard, 2 March 2012, p. 18.
[52]
See, for example, Mr Andrew Bragg, Senior Policy Manager, Financial
Services Council, Committee Hansard, 2 March 2012, p. 4; Mr
Matthew Linden, Chief Policy Adviser, Industry Super Network, Committee
Hansard, 2 March 2012, p. 14.
[53]
Ms Sue Vroombout, General Manager, Retail Investor Division, Treasury, Proof
Committee Hansard, 2 March 2012, p. 63.
Chapter 3 - The tailoring exemption for large employers and the limits on tailoring within an organisation
[1]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper
Core Provisions) Bill 2011, paragraph 3.14.
[2]
Explanatory Memorandum, Superannuation Legislation Amendment (MySuper
Core Provisions) Bill 2011, paragraph 3.14.
[3]
Corporate Super Specialist Alliance, Submission 2, p. 4.
[4]
Association of Financial Advisers, Submission 15, p. 3.
[5]
Australian Institute of Superannuation Trustees, Submission 9, p.
11.
[6]
Mr Andrew Bragg, Senior Policy Manager, Financial Services Council,
Proof Committee Hansard, 2 March 2012, p. 8.
[7]
Financial Services Council, Submission 3, p. 10.
[8]
This issue of the time at which the threshold must be met is neglected
in section 29TB of the bill. It is discussed in paragraph 2.11 and in
recommendation 2.1.
[9]
Financial Services Council, Submission 3, p. 11; See also Mr
Andrew Bragg, Senior Policy Manager, Financial Services Council, Proof
Committee Hansard, 2 March 2012, p. 4.
[10]
Mercer, Submission 13, p. 27.
[11]
Mercer, Submission 13, p. 28.
[12]
Mr Stephen Partridge, Product Leader, Outsourcing, Proof Committee
Hansard, 2 March 2012, p. 40.
[13]
Association of Superannuation Funds of Australia, Submission 12, p.
5.
[14]
Colonial First State, Submission 10, p. 3.
[15]
Australian Chamber of Commerce and Industry, Submission 6, p. 15.
[16]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee
Hansard, 2 March 2012, p. 59.
[17]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee
Hansard, 2 March 2012, p. 59.
[18]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee
Hansard, 2 March 2012, p. 60.
[19]
Mr Adam Hawkins, Policy Analyst, Financial System Division, Treasury, Proof
Committee Hansard, p. 67.
[20] Cooper et al, Super System
Review: Final Report; Part one—overview and recommendations, p. 112. In
evidence to the committee, Mr Matthew Linden, Chief Policy Adviser of the ISN
gave a more malicious definition:
This
is where a provider will offer a superficially low-cost product, often at a
loss, with the intention of recouping the loss and additional profits when an
employee leaves the employer and is transferred to another, substantially
higher-priced, product—in this context, a higher-priced MySuper product.
Proof Committee Hansard, 2
March 2012, p. 10.
[21]
Mr David Haynes, Project Director, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, p. 47.
[22]
Australian Institute of Superannuation Trustees, Submission 9, p.
8; Mr David Haynes, Project Director, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, p. 47.
[23]
Australian Institute of Superannuation Trustees, Submission 9, p.
8;
[24]
Australian Government, Stronger Super, p. 20, http://strongersuper.treasury.gov.au/content/publications/government_response/downloads/Stronger_Super.pdf
(accessed 5 March 2012).
[25]
Mercer, Submission 13, p. 5.
[26]
Dr David Knox, Senior Partner, Mercer, Proof Committee Hansard, 2
March 2012, p. 40.
[27]
Mercer, Submission 13, pp 5–6.
[28]
The Hon. Bill Shorten, MP, Assistant Treasurer, Second Reading Speech, House
of Representatives Hansard, 3 November 2011, p. 12,683.
Chapter 4 - Trustees obligations: the financial interests of beneficiaries, the 'scale test' and investment strategy
[1]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, proposed subsection 29VN. The wording has been
paraphrased: it is not the exact wording of the bill.
[2]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, Explanatory Memorandum, p. 13.
[3]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, Explanatory Memorandum, p. 13.
[4]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, Explanatory Memorandum, p. 14.
[5]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, Explanatory Memorandum, p. 14.
[6]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, Explanatory Memorandum, p. 14, paragraph 1.26.
[7]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, Explanatory Memorandum, p. 14, paragraph 1.27.
[8]
Superannuation Legislation Amendment (Trustee Obligations and Prudential
Standards) Bill 2012, Explanatory Memorandum, p. 14, paragraphs 1.30 and
1.31.
[9]
Ms Pauline Vamos, Chief Executive Officer, Association of Superannuation
Funds of Australia, Proof Committee Hansard, 2 March 2012, p. 32.
[10]
Mr David Haynes, Project Director, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, pp 51–52.
[11]
Mr David Haynes, Project Director, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, p. 52.
[12]
Mr Andrew Bragg, Senior Policy Manager, Financial Services Council, Proof
Committee Hansard, 2 March 2012, p. 5.
[13]
Mrs Elizabeth Goddard, Research Officer, Corporate Super Association, Proof
Committee Hansard, 2 March 2012, p. 30.
[14]
Dr David Knox, Senior Partner, Mercer, Proof Committee Hansard, 2
March 2012, p. 38.
[15]
Dr David Knox, Senior Partner, Mercer, Proof Committee Hansard, 2
March 2012, p. 42.
[16]
Dr David Knox, Senior Partner, Mercer, Proof Committee Hansard, 2
March 2012, p. 40. See Mercer, Submission 13, p. 23.
[17]
Dr David Knox, Senior Partner, Mercer, Proof Committee Hansard, 2
March 2012, p. 41.
[18]
Mr Matthew Linden, Chief Policy Advisor, Industry Super Fund Network, Proof
Committee Hansard, 2 March 2012, p. 14.
[19]
Mr Richard Watts, External Relations Manager and Legal Counsel, Industry
Super Network, Proof Committee Hansard, 2 March 2012, p. 15.
[20]
Australian Institute of Superannuation Trustees, Submission 9,
supplementary, p. 6.
[21]
Australian Institute of Superannuation Trustees, Submission 9,
supplementary, p. 3.
[22]
Dr David Knox, Senior Partner, Mercer, Proof Committee Hansard, 2
March 2012, p. 38.
[23]
Mr Jonathon Rollings, Principal Advisor, Superannuation, Financial System
Division, Treasury, Proof Committee Hansard, 2 March 2012, p. 65.
Chapter 5 - The proposed authorisation process of the Australian Prudential Regulatory Authority
[1]
Superannuation Legislation Amendment (MySuperCore Provisions) Bill 2011,
Section 29R, p. 5.
[2]
Namely, proposed section 29TA (product in another fund in which there is
already material goodwill) or proposed section 29TB (MySuper products for large
employers).
[3] The trustee
obligation requirements contained in s29VN of the Superannuation legislation
Amendment (Trustee Obligation and Prudential Standards) Bill 2012. See chapter
2.
[4]
Superannuation Legislation Amendment (MySuperCore Provisions) Bill 2011,
proposed section 29T.
[5]
Superannuation Legislation Amendment (MySuperCore Provisions) Bill 2011,
proposed section 29SB.
[6]
Industry Super Network, Submission 7, p. 1.
[7]
Australian Institute of Superannuation Trustees, Submission 9, p.
10.
[8]
Mr David Haynes, Project Director, Australian Institute of
Superannuation Trustees, Proof Committee Hansard, 2 March 2012, pp. 49,
51.
[9]
Australian Institute of Superannuation Trustees, Submission 9, p.
10.
[10]
Mr David Haynes, Project Director, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, p. 47.
[11]
Australian Institute of Superannuation Trustees, Submission 9, p.
11.
[12]
Mercer, Submission 13, p. 12.
[13]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee
Hansard, 2 March 2012, p. 54.
[14]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee
Hansard, 2 March 2012, p.55.
[15]
Dr Katrina Ellis, Senior Manager, Policy Development, Policy, Research and
Statistics Division, Australian Prudential Regulation Authority, Proof
Committee Hansard, 2 March 2012, p. 55.
[16]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee
Hansard, 2 March 2012, p. 54.
[17]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee
Hansard, 2 March 2012, p. 55.
[18]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee
Hansard, 2 March 2012, p. 54.
[19]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee Hansard,
2 March 2012, p. 54.
[20]
BT Financial Group, Submission 11, p. 2.
[21]
BT Financial Group, Submission 11, p. 3.
[22]
Mr Gareth Hall, Treasurer, Corporate Super Specialist Alliance, Proof
Committee Hansard, 2 March 2012, p. 19.
[23]
Mr Douglas Latto, President, Corporate Super Specialist Alliance, Proof
Committee Hansard, 2 March 2012, p. 20.
[24]
Association of Superannuation Funds of Australia, Submission 12, p.
5.
[25]
Mr Stephen Partridge, Product Leader, Outsourcing, Mercer, Proof Committee
Hansard, 2 March 2012, p. 43.
[26]
Mercer, Submission 13, p. 25.
[27]
Mercer, Submission 13, p. 25.
[28]
Financial Services Council, Submission 3, p. 6.
[29]
Financial Services Council, Submission 3, p. 9.
[30]
Mr David Haynes, Project Director, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, pp 48, 51.
[31]
Mr David Haynes, Project Director, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, p. 48.
[32]
Mr Gerard Noonan, President, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, p. 48.
[33]
Mr David Haynes, Project Director, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, p. 48.
[34]
Mr David Haynes, Project Director, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, p. 49.
[35]
Mr Gerard Noonan, President, Australian Institute of Superannuation
Trustees, Proof Committee Hansard, 2 March 2012, p. 49.
[36]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee
Hansard, 2 March 2012, pp 53–54.
[37]
Mr Keith Chapman, Executive General Manager, Diversified Institutions
Division, Australian Prudential Regulation Authority, Proof Committee
Hansard, 2 March 2012, p. 58.
[38]
Mr Stephen Partridge, Proof Committee Hansard, 2 March 2012, p. 42.
Coalition Members and Senators Dissenting Report
[1]
Industry Super Network, Submission 7, p. 1.
[2]
Australian Institute of Superannuation Trustees, Submission 9, p.
10.
[3]
Mr David Haynes, Project Director, Australian Institute of
Superannuation Trustees, Proof Committee Hansard, 2 March 2012, p. 49.
[4]
Mr David Haynes, Project Director, Australian Institute of
Superannuation Trustees, Proof Committee Hansard, 2 March 2012, p. #.
[5]
Australian Institute of Superannuation Trustees, Submission 9, p.
11.
[6]
Mercer, Submission 13, p. 6.
[7]
Keith Chapman, APRA, Proof Committee Hansard, 2 March 2012, p.
55.
[8]
Mr Gareth Hall, Treasurer, Corporate Super Specialist Alliance, Proof
Committee Hansard, 2 March 2012, p. 19.
[9]
Mr Douglas Latto, President, Corporate Super Specialist Alliance, Proof
Committee Hansard, 2 March 2012, p. 20.
[10]
Association of Superannuation Funds of Australia, Submission 12,
p. 5.
[11]
Mercer, Submission 13, p. 25.
[12]
Mercer, Submission 13, p. 25.
[13]
Financial Services Council, Submission 3, p. 6.
[14]
APRA, Proof Committee Hansard, 2 March 2012, p.
[15]
APRA, Proof Committee Hansard, 2 March 2012, p.
[16]
CSSA, Submission 2, p. 4.
[17]
Association of Financial Advisers, Submission 15, p. 3.
[18]
Australian Institute of Superannuation Trustees, Submission 9, p.
11.
[19]
Financial Services Council, Submission 3, p. 11; See also Mr
Andrew Bragg, Senior Policy Manager, Financial Services Council, Proof
Committee Hansard, 2 March 2012, p. 4.
[20]
Mercer, Proof Committee Hansard, 2 March 2012, p. 40.
[21]
Mercer, Submission 13, p. 28.
[22]
Association of Superannuation Funds of Australia, Submission 12,
p. 5.
[23]
Proof Committee Hansard, 2 March 2012, p. 59.
[24]
Mr Andrew Bragg, Senior Policy Manager, Financial Services Council, Committee
Hansard, 2 March 2012, p. 5.
[25]
Mr Richard Watts, External Relations Manager & Legal Counsel,
Industry Super Network, Committee Hansard, 2 March 2012, pp 14–15.
[26]
Mrs Elizabeth Goddard, Research Officer, Corporate Super Association, Committee
Hansard, 2 March 2012, p. 29.
[27]
Ms Pauline Vamos, Chief Executive Officer, Association of Superannuation
Funds of Australia, Committee Hansard, 2 March 2012, pp 32–33.
[28]
Dr David Knox, Senior Partner, Mercer, Committee Hansard, 2 March
2012, p. 38.
[29]
Dr David Knox, Senior Partner, Mercer, Committee Hansard, 2 March
2012, pp 42–43.
[30]
Mr Andrew Bragg, FSC, Proof Committee Hansard,
2 March 2012, p. 2.
[31]
Mr Gareth Hall, CSSA, Proof Committee Hansard, 2 March 2012, p. 18.
[32]
Mr Douglas Latto, CSSA, Proof Committee Hansard, 2 March 2012, p.
23.
[33]
Mr Gareth Hall, CSSA, Proof Committee Hansard, 2 March 2012, p. 23.
[34]
ASFA, Proof Committee Hansard, 2 March 2012, p. 32.
[35]
Dr David Knox, Proof Committee Hansard, 2 March 2012, p.
[36]
Treasury, Proof Committee Hansard, 2 March 2012, pp. 62–63.
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