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

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.


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Michael Chaaya

Partner. Sydney
+61 2 9210 6627


Christine Maher

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+61 7 3228 9413