Superannuation Laws Amendment (MySuper Capital Gains Tax Relief and Other Measures) Act 2013 (89 of 2013)

Schedule 3   Default superannuation

Fair Work Amendment Act 2012

33   Item 43 of Schedule 2 (new subsection 620(1A))

Repeal the subsection, substitute:

Constitution of an Expert Panel for 4 yearly reviews of default fund terms etc.

(1A) An Expert Panel constituted under this section for a purpose referred to in subsection 617(4) or (5) consists of 7 FWC Members (except as provided by section 622), and must include:

(a) the President, or a Vice President or Deputy President appointed by the President to be the Chair of the Panel; and

(b) 3 Expert Panel Members who have knowledge of, or experience in, one or more of the following fields:

(i) finance;

(ii) investment management;

(iii) superannuation.