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12 Sep 2019 Bills before the House of Representatives

Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019 

The Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019 is currently before the House of Representatives. 

The bill makes amendments to: 

  • The Superannuation Industry (Supervision) Act 1993 to prevent trustees from providing insurance on an opt out basis to members who are under 25 years old and begin to hold a new product on or after 1 October 2019, and to members who hold products with balances below $6000; and
  • The Superannuation (Unclaimed Money and Lost Members) Act 1999 to make consequential amendments.
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