PUBLIC CORPORATIONS (SUBSIDIARIES) AMENDMENT BILL

Second Reading

Adjourned debate on second reading.

(Continued from 13 November 2013.)

The Hon. R.I. LUCAS (11:45): I rise on behalf of Liberal members to support the second reading of the Public Corporations (Subsidiaries) Amendment Bill. This is a relatively simple bill for which the member for Davenport has indicated Liberal Party support in debate in another place. The government's second reading outlines the background to the need for this legislation, that is, that the Southern Select Super Corporation was established as a subsidiary of the Minister for Finance pursuant to the Public Corporations (Southern Select Super Corporation) Regulations 2012 and is the trustee of Super SA Select, the state government's taxed superannuation scheme.

The government advises that there is currently no external independent dispute mechanism in respect of the decisions of the Board of Directors of the Southern Select Super Corporation. This is because the Public Corporations Act 1993 does not provide for the regulations establishing a subsidiary of a public corporation to confer jurisdiction on a court to review a decision of that subsidiary.

For the reasons that the government has outlined in its second reading, as I said, the member for Davenport has indicated we accept the justification and need for this particular technical amendment bill and will be supporting it through all proceedings today.

The Hon. I.K. HUNTER (Minister for Sustainability, Environment and Conservation, Minister for Water and the River Murray, Minister for Aboriginal Affairs and Reconciliation) (11:46): I rise to conclude the debate. In closing, I wish to thank members for their remarks and contributions regarding the bill. In setting up the Super Select scheme, the government set up a superannuation vehicle that sits outside the constitutionally protected framework under which Super SA usually operates. In this light, there are certain things that need to be done, not least of which is giving trustees the freedom to operate in their role of trustee without risking conflict of interest and allowing those who are members of the scheme to have access to a court to settle disputes should they be dissatisfied with decisions of the board.

I would like to take this opportunity to remark that, in passing this bill, this government will be providing the dispute resolution process expected of a government superannuation scheme, which will work to the benefit of not just current members but also future people who join the Public Service or people who are currently members of the Public Service and who transfer across to the new scheme. With that, I commend the bill to the house.

Bill read a second time.

Committee Stage

Bill taken through committee without amendment.

Third Reading

The Hon. I.K. HUNTER (Minister for Sustainability, Environment and Conservation, Minister for Water and the River Murray, Minister for Aboriginal Affairs and Reconciliation) (11:49): I move:

That this bill be now read a third time.

Bill read a third time and passed.