Supplementary Explanatory Memorandum(Circulated by authority of the Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator the Hon Jane Hume)
Chapter 1 - Choice of fund for workplace determinations and enterprise agreements - Amendments
Amendments 1 and 2
1.1 Amendments 1 and 2 amend Schedule 1 to the Bill to update the date specified in the measure that determines the time from which it applies to new workplace determinations and enterprise agreements. The measure will now apply to workplace determinations and enterprise agreements made on or after 1 January 2021.
1.2 These changes will ensure that the amendments do not have retrospective effect in relation to determinations or agreements that were made before the amendments in the Bill are enacted.