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This is a Bill, not an Act. For current law, see the Acts databases.
Superannuation Administration
Authority Corporatisation Amendment
Bill 2010
No , 2010
A Bill for
An Act to amend the Superannuation Administration Authority Corporatisation Act
1999 to make further provision with respect to the functions of the Superannuation
Administration Corporation.
Superannuation Administration Authority Corporatisation Amendment
Clause 1 Bill 2010
The Legislature of New South Wales enacts: 1
1 Name of Act 2
This Act is the Superannuation Administration Authority 3
Corporatisation Amendment Act 2010. 4
2 Commencement 5
This Act commences on the date of assent to this Act. 6
Page 2
Superannuation Administration Authority Corporatisation Amendment
Bill 2010
Amendment of Superannuation Administration Authority Corporatisation Act Schedule 1
1999 No 5
Schedule 1 Amendment of Superannuation 1
Administration Authority 2
Corporatisation Act 1999 No 5 3
[1] Section 6 Business of the Corporation 4
Omit the section. 5
[2] Section 7 Functions of the Corporation 6
Omit "administration services and related services" from section 7 (2). 7
Insert instead "administration and related services". 8
[3] Section 7 (3) 9
Omit "The Corporation". 10
Insert instead "For the purposes of exercising its principal functions, the 11
Corporation". 12
[4] Section 7 (3A)-(3C) 13
Insert after section 7 (3): 14
(3A) The Corporation may also provide administration and related 15
services to financial service providers. 16
(3B) For that purpose, the Corporation may provide services that 17
include (but are not limited to) the following: 18
(a) collecting payments on behalf of financial service 19
providers, 20
(b) providing information and advice to clients of financial 21
service providers, 22
(c) keeping and maintaining client records, 23
(d) preparing financial statements on behalf of financial 24
service providers, 25
(e) processing claims and other transactions on behalf of 26
financial service providers. 27
(3C) The Corporation has such other functions as may be prescribed 28
by the regulations. 29
[5] Section 7, note 30
Insert at the end of the section: 31
Note. Section 20E of the State Owned Corporations Act 1989 sets out 32
the principal objectives of statutory State owned corporations. 33
Page 3
Superannuation Administration Authority Corporatisation Amendment
Bill 2010
Schedule 1 Amendment of Superannuation Administration Authority Corporatisation Act
1999 No 5
[6] Long title 1
Omit "to provide superannuation scheme administration services and related 2
services". 3
Insert instead "and specify its functions". 4
Page 4
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