Senate debates
Wednesday, 6 December 2017
Bills
Treasury Laws Amendment (Putting Consumers First — Establishment of the Australian Financial Complaints Authority) Bill 2017; In Committee
11:59 am
Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Hansard source
The Association of Superannuation Funds of Australia, ASFA, gave us a briefing—and, as I've said a couple of times, they have acknowledged that in their discussions with the minister they have been able to achieve some success and some of the outcomes they wanted. But they make it really clear that they believe the implementation process is going to be rushed with a July 2018 commencement date. ASFA considers that the bill should specify a commencement date for the scheme no earlier than 1 January 2019 or provide for at least six months notice of any milestone in the transition process. Is the implementation going to be rushed with a July 2018 guideline for commencement, and do you accept ASFA's criticisms in this regard?
No comments