Division
Jane Hume by leave—I move amendments (1) to (16) on sheet TW114 together: (1) Schedule 1, item 1, page 3 (line 15), omit "1 July 2019", substitute "1 November 2019". (2) Schedule 1, item 1, page 4 (after line 13), at the end of subsection 68AAB(4), add: ; or (e) a member to whom the dangerous occupation exception applies (see section 68AAF). (3) Schedule 1, item 1, page 5 (after line 29), at the end of subsection 68AAC(4), add: ; or (e) a member to whom the dangerous occupation exception applies (see section 68AAF). (4) Schedule 1, page 5 (after line 35), after item 3, insert: 3A After section 68AAE Insert: 68AAF Dangerous occupation exception (1) The _dangerous occupation exception_ applies to a member of a regulated superannuation fund to, or in respect of, whom a benefit is provided by the fund under a choice product or MySuper product held by the member by taking out or maintaining insurance if: (a) the trustee or trustees of the fund make an election under this section that members holding that product will be covered by a dangerous occupation exception if they are employed in an occupation specified in the election; and (b) the election is in force; and (c) the member is employed in an occupation specified in the election; and (d) it is reasonable to expect that some or all of the contributions paid into the product will be paid in respect of that employment. (2) The trustee, or trustees, of a regulated superannuation fund may elect that members holding a choice product or MySuper product specified in the election are covered by a dangerous occupation exception if they are employed in an occupation specified in the election and either: (a) a Fellow of the Institute of Actuaries of Australia has certified that: (i) based on rates of death, or death and total and permanent disability; and (ii) using information from the most recent 5 years in relation to Australian occupations; the occupation is in the riskiest quintile of Australian occupations; or (b) the occu
Senate, 2019-09-19. negative: ayes 29, noes 33.
Question
Jane Hume by leave—I move amendments (1) to (16) on sheet TW114 together: (1) Schedule 1, item 1, page 3 (line 15), omit "1 July 2019", substitute "1 November 2019". (2) Schedule 1, item 1, page 4 (after line 13), at the end of subsection 68AAB(4), add: ; or (e) a member to whom the dangerous occupation exception applies (see section 68AAF). (3) Schedule 1, item 1, page 5 (after line 29), at the end of subsection 68AAC(4), add: ; or (e) a member to whom the dangerous occupation exception applies (see section 68AAF). (4) Schedule 1, page 5 (after line 35), after item 3, insert: 3A After section 68AAE Insert: 68AAF Dangerous occupation exception (1) The _dangerous occupation exception_ applies to a member of a regulated superannuation fund to, or in respect of, whom a benefit is provided by the fund under a choice product or MySuper product held by the member by taking out or maintaining insurance if: (a) the trustee or trustees of the fund make an election under this section that members holding that product will be covered by a dangerous occupation exception if they are employed in an occupation specified in the election; and (b) the election is in force; and (c) the member is employed in an occupation specified in the election; and (d) it is reasonable to expect that some or all of the contributions paid into the product will be paid in respect of that employment. (2) The trustee, or trustees, of a regulated superannuation fund may elect that members holding a choice product or MySuper product specified in the election are covered by a dangerous occupation exception if they are employed in an occupation specified in the election and either: (a) a Fellow of the Institute of Actuaries of Australia has certified that: (i) based on rates of death, or death and total and permanent disability; and (ii) using information from the most recent 5 years in relation to Australian occupations; the occupation is in the riskiest quintile of Australian occupations; or (b) the occu
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