Senate debates Bills

Treasury Laws Amendment (Putting Members' Interests First) Bill 2019; In Committee


Jenny McAllister

Jenny McAllister NSW, Australian Labor Party, Shadow Cabinet Secretary

9:55 am

I wish to ask a question of the minister. It strikes me that the amendment that you propose assumes that trustees will have complete information about individual fund members, their occupation and, therefore, the associated occupational risks. It is my understanding that that is not actually the case and the funds will only have the information that the employers give them, by law, which requires the employer to provide the worker's name, date of birth and address. Funds are able to supplement that, but that would be time consuming and imperfect. What is your expectation in how funds will obtain the necessary information to make the assessment that's imagined in the amendment you propose?

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