Commonwealth of Australia Explanatory Memoranda

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COMSUPER BILL 2010

                               2008-2009-2010

    THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

                      HOUSE OF REPRESENTATIVES

                          COMSUPER BILL 2010

          SUPPLEMENTARY EXPLANATORY MEMORANDUM

   Amendments and new clauses to be moved on behalf of the Government
     (Circulated by authority of the Minister for Finance and Deregulation,
                     The Honourable Lindsay Tanner MP)

Amendment (1) [commencement]
This amendment specifies that sections 3 to 27 of the Bill will commence at the
same time as section 2 of the Governance of Australian Government
Superannuation Schemes Bill 2010 (the Governance Bill) commences. This
creates a clearer link to the commencement provision of the Governance Bill.

Amendment (2) [role of Defence Minister]
This amendment inserts a definition of Defence Minister as this term is used in
the Bill as a result of the amendments.

Amendments (3), (4), and (5) [role of Defence Minister]
These amendments provide for the Finance Minister to consult with the
Defence Minister in relation to the appointment and termination of the CEO of
ComSuper. This reflects that the CEO of ComSuper is responsible for
providing administrative services to CSC (short for Commonwealth
Superannuation Corporation) in relation to both the Commonwealth's civilian
superannuation schemes and military superannuation schemes.

Amendment (6) [ComSuper Special Account]
This amendment provides that amounts standing to the credit of the ComSuper
Special Account may be debited, among other purposes, to reduce the balance
of the Special Account without making a real or notional payment.

Amendment (7) [annual report]
This amendment clarifies that the annual report prepared by the CEO of
ComSuper is given to the Minister for the purpose of presentation to the
Parliament.