Footnotes

Chapter 1

[1]        House of Representatives, Votes and Proceedings, No. 107 – 19 March 2015, p. 1211.

[2]        Journals of the Senate, No. 90 – 26 March 2015, pp 2458-2460.

[3]        Explanatory Memorandum (EM), p. 4.

[4]        Mr Michael McCormack MP, Parliamentary Secretary to the Minister for Finance, House of Representatives Hansard, 19 March 2015, p. 2914.

[5]        Mr Michael McCormack MP, Parliamentary Secretary to the Minister for Finance, House of Representatives Hansard, 19 March 2015, p. 2914.

[6]        EM, p. 4.

[7]        Mr Michael McCormack MP, Parliamentary Secretary to the Minister for Finance, House of Representatives Hansard, 19 March 2015, p. 2915.

[8]        Department of Finance (Finance), Submission 5, p. 1. Those schemes are: Commonwealth Superannuation Scheme (CSS); Military Superannuation and Benefits Scheme (MilitarySuper); Public Sector Superannuation Scheme (PSS); Public Sector Superannuation Scheme Accumulation Plan (PSSAP); 1922 Scheme; Defence Force Retirement Benefits Scheme (DFRB Scheme); Defence Force Retirement and Death Benefits Scheme (DFRDB Scheme); Papua New Guinea Scheme (PNG Scheme); and Defence Force (Superannuation) (Productivity Benefit) (DFSPB), see Commonwealth Superannuation Corporation (CSC) website: csc.gov.au/about-us/who-we-are/ (accessed 20 April 2015).

[9]        See Finance, Submission 5, p. 1; Commonwealth Superannuation Corporation, Submission 2, p. 1.

[10]      Finance, Submission 5, pp 1-2.

[11]      Finance, Submission 5, p. 2.

[12]      Finance, Submission 5, p. 2.

[13]      Finance, Submission 5, p. 2.

[14]      Finance, Submission 5, p. 2.

[15]      EM, p. 8.

[16]      EM, pp 8-9. These amendments will enable CSC, which is a corporate Commonwealth entity separate from the Commonwealth, to perform a range of financial roles on behalf of the Commonwealth in its new role as administrator. These roles are currently performed by ComSuper, which is legally part of the Commonwealth.

[17]      EM, pp 9-10. The CSC Special Account forms part of the Consolidated Revenue Fund (CRF) and satisfies the requirement that the administration fees which CSC receives from employer agencies on the Commonwealth's behalf, form part of the CRF.

[18]      EM, p. 5.

[19]      EM, p. 23.

[20]      EM, p. 34.

[21]      See CSC, Submission 2, p. 2; Finance, Submission 5, p. 3.

[22]      Submission 2, p. 2.

[23]      Submission 5, p. 1.

[24]      Submission 4, p. 3.

[25]      Submission 4, p. 3.

[26]      Submission 4, pp 3-4.

[27]      Submission 1, p. 1.

[28]      Submission 1, p. 1.

[29]      Submission 2, p. 2.

[30]      Submission 2, p. 2.

[31]      Submission 3, p. 1.

[32]      Submission 3, p. 1.

[33]      Submission 5, p. 5.

[34]      Submission 4, p. 4.

[35]      Submission 4, p. 4.

[36]      Submission 2, p. 2. See also Department of Finance, Submission 5, p. 4.

[37]      Submission 4, p. 1.

[38]      EM, p. 34.

[39]      EM, p. 6.

[40]      Senate Standing Committee for the Scrutiny of Bills, Alert Digest No. 4 of 2015, 25 March 2015, pp 32-33.

[41]      EM, p. 33.

[42]      EM, p. 33.