Senate debates

Thursday, 19 September 2019

Bills

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

10:11 am

Photo of Jenny McAllisterJenny McAllister (NSW, Australian Labor Party, Shadow Cabinet Secretary) | Hansard source

Minister, I asked you earlier about the capacity for funds to discharge the obligation to obtain information under the scheme as you propose in the amendments. I asked you about it in the capacity that you will obtain information. Can I ask you to contemplate a scenario where a trustee makes a decision not to bring an individual member into group insurance on an opt-out basis, and they make that decision based on erroneous information that they hold about that person's risk profile? Is that trustee then vulnerable to legal action from a dependent who subsequently finds themselves without any benefit in the event of a death?

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