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Superannuation Legislation Amendment (Service Providers and Other Governance Measures) Bill 2012

Revised Explanatory Memorandum

(Circulated by the authority of the Minister for Financial Services and Superannuation, the Hon Bill Shorten MP)
This memorandum takes account of amendments made by the House of Representatives to the Bill as introduced


The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation Definition
ADI authorised deposit-taking institution
APRA Australian Prudential Regulation Authority
ASIC Australian Securities and Investments Commission
Capital Gains Tax and Other Efficiency Measures Act Superannuation Laws Amendment (Capital Gains Tax and Other Efficiency Measures) Act 2012
Corporations Act Corporations Act 2001
FHSA Act First Home Saver Accounts Act 2008
FSCOD Act Financial Sector (Collection of Data) Act 2001
Further MySuper and Transparency Measures Act Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012
MySuper Core Provisions Act Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012
PJC Parliamentary Joint Committee on Corporations and Financial Services
RIS regulation impact statement
RSE registrable superannuation entity
SCT Superannuation Complaints Tribunal
SIS Act Superannuation Industry (Supervision) Act 1993
SIS Regulations Superannuation Industry (Supervision) Regulations 1994
SMSF Self managed superannuation fund
SRC Act Superannuation (Resolution of Complaints) Act 1993
the Review The review into the governance, efficiency, structure and operation of Australia's superannuation system or the Super System Review (Cooper Review)
TPD total and permanent disability insurance
Trustee Obligations and Prudential Standards Act Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Act 2012

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