TREASURY LAWS AMENDMENT (PUTTING CONSUMERS FIRST--ESTABLISHMENT OF THE AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY) ACT 2018 - SCHEDULE 3 Repeal of the Superannuation (Resolution of Complaints) Act 1993

(1A) If it appears to ASIC that an RSA provider has refused or failed to give effect to a determination made under the AFCA scheme (within the meaning of Chapter 7 of the Corporations Act 2001 ), ASIC may, by written notice, tell the RSA provider that ASIC proposes to conduct an investigation of the whole or a part of the affairs of the RSA provider.

14 Subsection 163(12) (paragraph (a) of the definition of do an act or thing )

Omit "made by the Superannuation Complaints Tribunal, or".

15 Subsection 163(12) (at the end of paragraph (b) of the definition of do an act or thing )

Omit "with the directions of the Superannuation Complaints Tribunal, or".

16 Section 184

Repeal the section.

Superannuation Act 1976

17 Subsection 155C(3) (paragraph (c) of the definition of eligible regulatory law )

Repeal the paragraph, substitute:

Superannuation Act 1990

18 Subsection 49(3) (paragraph (c) of the definition of eligible regulatory law )

Repeal the paragraph, substitute:

Superannuation Act 2005

19 Paragraph 46(1)(f)

Repeal the paragraph.

Superannuation Industry (Supervision) Act 1993

20 Subparagraph 6(1)(a)(iv)

Omit "sections 64A and 68A", substitute "section 68A".

21 Subparagraph 6(1)(c)(i)

Repeal the subparagraph, substitute:

(i) section 68A; and

22 Subsection 10(1) (definition of Superannuation Complaints Tribunal )

Repeal the definition.

23 Paragraph 58(2)(f)

Repeal the paragraph.

24 Section 64A

Repeal the section.

25 Subsection 101(1) (note)

Omit ", and the Superannuation (Resolution of Complaints) Act 1993 , deal", substitute "deals".

26 Paragraph 263(1)(c)

Repeal the paragraph.

27 Subsection 315(12) (paragraph (a) of the definition of do an act or thing )

Omit "made by the Superannuation Complaints Tribunal, or".

28 Subsection 315(12) (at the end of paragraph (b) of the definition of do an act or thing )

Omit "directions of the Superannuation Complaints Tribunal, or".

29 Paragraph 337A(a)

Before "Superannuation Complaints Tribunal", insert "former".

Superannuation (Unclaimed Money and Lost Members) Act 1999

30 Section 8 (definition of Superannuation Complaints Tribunal )

Repeal the definition.

Taxation Administration Act 1953

31 Subsection 355 - 65(3) in Schedule 1 (table item 3)

Repeal the item, substitute:

the operator of the AFCA scheme (within the meaning of Chapter 7 of the Corporations Act 2001 )

(a) is of information that was obtained under or in relation to the Superannuation (Unclaimed Money and Lost Members) Act 1999 ; and

(b) is for the purpose of the operator performing any of its functions or exercising any of its powers.

Part 3 -- Application, saving and transitional provisions

32 Existing determinations unaffected

(1) The repeal of the Superannuation (Resolution of Complaints) Act 1993 by Part 1 of this Schedule, does not affect a determination made under that Act before the commencement of that Part.

(2) The amendments of Acts made by Part 2 of this Schedule do not apply in relation to such a determination, and those Acts continue to apply after the commencement of that Part in relation to such a determination as if those amendments had not been made.

33 Transfer of records

(1) This item applies to any records or documents that were in the possession of the following immediately before the commencement of Part 1 of this Schedule:

(a) a member of the Superannuation Complaints Tribunal;

(b) a member of the staff of the Australian Securities and Investments Commission who had been made available to the Superannuation Complaints Tribunal under section 62 of the Superannuation (Resolution of Complaints) Act 1993 .

(2) The records and documents are to be transferred to the Australian Securities and Investments Commission after that commencement.

Note: The records and documents are Commonwealth records for the purposes of the Archives Act 1983 .

Records and documents taken to be protected information

(3) For the purposes of section 127 of the Australian Securities and Investments Commission Act 2001 , a record or document transferred to the Australian Securities and Investments Commission under subitem (2) of this item is taken to be protected information, unless the document or record has already been lawfully made available to the public.

34 Remittal of matters by the Federal Court

(1) This item applies in relation to an appeal to the Federal Court under section 46 of the Superannuation (Resolution of Complaints) Act 1993 , as in force immediately before the commencement of Part 1 of this Schedule, from a determination of the Superannuation Complaints Tribunal, if the appeal was not finally determined before that commencement.

(2) Without limiting the powers of the Federal Court, the Federal Court may make an order remitting the matter to be determined by the Australian Financial Complaints Authority in accordance with the directions of the Court.

35 Transitional rules

(1) The Minister may, by legislative instrument, make rules prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments or repeals made by this Schedule.

(2) To avoid doubt, the rules may not do the following:

(a) create an offence or civil penalty;

(b) provide powers of:

(i) arrest or detention; or

(ii) entry, search or seizure;

(d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;

(e) directly amend the text of this Act.

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