The TIA is concerned that the scope for complexity and duplication in the administration of superannuation funds covered by Superannuation Legislation Amendment Bill (No.3) 1999 (SLAB No.3) will be further increased because APRA and ASIC and now the ATO will all have powers under the SIS Act to administer these funds. 2. In addition, multiple regulators administering the same legislation leads to the possibility of different conclusions and interpretations on same legislation. For example, there will be a need to co-ordinate the technical and administrative consistency of taxation rulings being issued by the Commissioner of Taxation and the content APRA circulars.
maintenance