Stronger Super Bill on trustee obligations and prudential standards introduced into Parliament

Download
Subscribe
17 February 2012

The Government has introduced the Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Bill 2012 (the Bill) into Federal Parliament.

The Bill makes substantial changes to the Superannuation Industry (Supervision) Act 1993 (SIS Act), including:

  • expansion of the general duties of registrable superannuation entity (RSE) licensees;
  • application of new trustee duties for RSE licensees of RSEs offering a MySuper product;
  • application of personal duties to directors of corporate trustees; and
  • granting APRA the power to make prudential standards for the superannuation industry.


Click 'Download' to read the full article. For a copy of the Bill, click here, and for a copy of the Explanatory Memorandum (the EM) click here.

 


The content of this publication is for reference purposes only. It is current at the date of publication. This content does not constitute legal advice and should not be relied upon as such. Legal advice about your specific circumstances should always be obtained before taking any action based on this publication.


Related Content

Contacts

Michael Chaaya

Partner. Sydney
+61 2 9210 6627

Profile

Christine Maher

Consultant. Brisbane
+61 7 3228 9413

Profile