Mr ANOULACK CHANTHIVONG (Macquarie Fields) (15:46): I lead for the Opposition on the Treasury Legislation Amendment (Miscellaneous) Bill 2022.
From the outset I state that Labor will not be opposing the bill in its currently proposed draft.
In the last few minutes I have been advised that another amendment will be made by the Government to require compliance with the grants administration guide. I understand that the member for North Sydney will move that amendment at the end of this debate.
The bill will make a series of amendments to ensure compliance with Commissioner Hayne's Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, and the Australian accounting standards, and preparation of compliance statements as part of the audit process.
Given the uncontroversial nature of the bill, my remarks will be relatively modest.
There are amendments covering six Acts in total, in addition to amendments to Acts and regulations that relate to the change from "First State Superannuation Fund" to "Aware Super Fund". The list of legislation to be amended is detailed in the bill's explanatory notes. It is not necessary for me to repeat them for sake of adding a few words to my remarks.
The motive for this bill is to ensure that government legislation remains contemporary and compliant within the different operating environments. For example, the proposed changes to the Coal and Oil Shale Mine Workers (Superannuation) Act 1941 are in response to the Hayne royal commission.
The proposed amendments seek to construct a revised corporate structure through a trustee arrangement that is in line with Commonwealth legislation. Schedule 1.1. outlines all these changes.
Similarly, schedules 1.2 to 1.5 are amendments to the various pieces of government finance administration legislation to ensure that they comply with the Australian accounting standards.
Further, schedules 1.3 and 1.4 are aimed at improving the preparation and reporting process of government sector finance compliance statements.
Schedules 1.4 (2) and (3) require the Treasurer to provide compliance statements prior to the Auditor General preparing her audit reports and that certain statements and reports be tabled in the Legislatively Assembly.
I made further enquiries, particularly about schedule 1.6, which relates to the Parliamentary Contributory Superannuation Act 1971.
I understand that the proposed changes are also administrative in nature because of the changing circumstances and declining number of MPs who are eligible to be trustees of the parliamentary contributory superannuation fund, given the fund has been closed to new members since 2007.
The proposed amendments are aimed at allowing the Treasurer to appoint trustees to and remove trustees from the board. I am advised that the appointed trustees do not receive any remuneration for their services, which I suspect to be valuable public information.
There appears to be nothing controversial in the bill and the proposed amendments.
I understand that part 4, regarding compliance with the grants administration guide, will be amended by the Member for North Shore.
That concludes my remarks on the bill.
