Summary
Further to the Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011, the bill amends the
Superannuation Industry (Supervision) Act 1993
to: expand the duties for registrable superannuation entity (RSE) licensees; apply new trustee duties to RSE licensees of an RSE that offers a MySuper product; apply duties to the directors of corporate trustees; provide the Australian Prudential Regulation Authority with the power to issue prudential standards in relation to superannuation prudential matters; and make consequential amendments.