Richard Colbeck (Tasmania, Liberal Party, Parliamentary Secretary to the Minister for Finance and Administration) Share this | Hansard source

Obviously the government does not agree with the final comment made by Senator Stephens. The government’s arguments in relation to this matter are probably as well known as Senator Murray’s arguments. If we are to continue to talk about eating elephants, I hope there are a few people who are relatively hungry, because it is going to be a big job. The government’s views on this issue are very well known. The government does have in place arrangements that require a licence under the Prudential Regulation Authority and trustees have to meet a fit and proper operating standard as determined under the Superannuation Industry (Supervision) Act 1993. That standard is designed to ensure that the interests of superannuation scheme members are managed and overseen competently by honest and trustworthy individuals. So the government believes that it does have in place proper arrangements to deal with board selection appointments. Rather than prolonging the debate, I will just say that, as Senator Murray has indicated, his views are well known and I think the government’s are as well. We oppose the amendment.

Question negatived.

Bill, as amended, agreed to.

Bill reported with amendments; report adopted.