Nick Sherry (Tasmania, Australian Labor Party, Shadow Minister for Banking and Financial Services) Share this | Hansard source

Labor will not be supporting this amendment. I want to draw a distinction on representative trustees in a superannuation fund. My understanding is that there is no change to the representative nature of the trustees on this new board. In the case of superannuation trustees, I think it is fundamentally different. We have representative trustees, and I know there is selection of a small number of them. I think that, in the case of superannuation trustees, representative employee/employer appointments is an appropriate model. I have always strongly believed that, Senator Murray. With respect to superannuation fund trustees, I draw a distinction between that particular representative body and the representative bodies of other government organisations. So on this occasion I will not be supporting the amendment.