Commonwealth of Australia Explanatory Memoranda

[Index] [Search] [Download] [Bill] [Help]


TREASURY LAWS AMENDMENT (YOUR FUTURE, YOUR SUPER) BILL 2021

                           2019-2020-2021



    THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA




                              SENATE




TREASURY LAWS AMENDMENT (YOUR FUTURE, YOUR SUPER) BILL 2021




        SUPPLEMENTARY EXPLANATORY MEMORANDUM



          Amendments to be moved on behalf of the Government




                     (Circulated by authority of the
                Treasurer, the Hon Josh Frydenberg MP)


General outline and financial impact Parliamentary Amendments The Parliamentary Amendments to the Bill remove the regulation making powers to prescribe additional requirements where failure to comply with the additional requirements would be a contravention of the best financial interests duty. Date of effect: None. Proposal announced: These amendments have not previously been announced. Financial impact: Nil Human rights implications: The amendments do not affect the analysis of the human rights issues provided for in Chapter 4 of the Explanatory Memorandum to the Bill. Compliance cost impact: The amendments are not expected to substantially alter the cost impact outlined in the Explanatory Memorandum to the Bill. Amendments Amendments 1 and 2 1.1 Amendments 1 and 2 remove the regulation making powers to prescribe additional requirements where failure to comply with the additional requirements would be a contravention of the best financial interests duty. [Amendments 1 and 2] Amendment 3 1.2 Amendment 3 is a consequential amendment as a result of the amendments to remove the regulation making powers to prescribe additional requirements where failure to comply with the additional requirements would be a contravention of the best financial interests duty. [Amendment 3] 3


Index] [Search] [Download] [Bill] [Help]