SUPERANNUATION SELECT COMMITTEE APPOINTMENT
Senator Allison, pursuant to notice of motion not
objected to as a formal motion, moved general business notice of motion
no. 2:
(1) That a select committee, to be known as the Select Committee
on Superannuation, be appointed to inquire into matters
pertaining to superannuation referred to it by the
Senate, and inquire initially into:
(a) the adequacy of the tax arrangements for superannuation and related policy to address the retirement
income and aged and health care needs of Australians; and
(b) the taxation treatment applying to transfers from an
overseas superannuation fund to an Australian regulated
fund, with particular reference to whether the lump sum payment from
an eligible non-resident/non-complying superannuation
fund, under section 27CAA of the Income Tax Assessment Act 1936, should
be treated as income and when such tax liability (if any) should accrue
and be paid.
(2) That the committee present
its final reports on (a) and (b) by the last sitting day in September
2002.
(3) That the committee have power to consider and use
for its purposes the minutes of evidence, records and documents of the
Select Committees on Superannuation and the Select Committee on Superannuation and Financial Services appointed in previous
parliaments.
(4) That the committee consist of 7
senators, 3 nominated by the Leader of the Government in the Senate, 3
nominated by the Leader of the Opposition in the Senate, and 1 nominated
by minority groups and independent senators.
(5) That the committee appoint a member
nominated by the Leader of the Government in the Senate as its chair and
a member nominated by the Leader of the Opposition in the Senate as its
deputy chair.
(6) That the committee may proceed to
the dispatch of business notwithstanding that not all members have been
duly nominated and appointed and notwithstanding any vacancy.
(7) That the deputy chair act as chair
when there is no chair or the chair is not present at a meeting.
(8) That, in the event of the votes
on any question before the committee being equally divided, the chair,
or the deputy chair when acting as chair, have a casting vote.
(9) That the quorum of the committee
be 3 members.
(10) That the committee and any subcommittee
have power to send for and examine persons and documents, to move from
place to place, to sit in public or in private, notwithstanding any prorogation
of the Parliament or dissolution of the House of Representatives, and
have leave to report from time to time its proceedings and the evidence
taken and such interim recommendations as it may deem fit.
(11) That the committee have power to
appoint subcommittees consisting of 3 or more of its members and to refer
to any such subcommittee any of the matters which the committee is empowered
to consider, and that the quorum of a subcommittee be a majority of senators
appointed to the subcommittee.
(12) That the committee be provided
with all necessary staff, facilities and resources and be empowered to
appoint persons with specialist knowledge for the purposes of the committee
with the approval of the President.
(13) That the committee be empowered
to print from day to day such documents and evidence as may be ordered
by it, and a daily Hansard be published of such proceedings as take place
in public.
Question put and passed.
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