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Law Council of Australia

Legal Practice Section

Legislating the objective of superannuation

The Superannuation Committee of the Law Council of Australia’s Legal Practice Section (the Committee) provided a submission to the Treasury in response to ‘Legislating the objective of superannuation’.

Given that the proposed objective of superannuation would not represent a legally binding constraint on its intended audience (i.e. Parliament), it is unnecessary to introduce the objective by way of legislation.

Since it is not intended to operate as a law, it is not necessary to implement the objective via law reform. A non-statutory solution would be preferable, since that would also avoid numerous possible unintended consequences such as those outlined below.

However, if the objective of superannuation is to be legislated notwithstanding these concerns, then there are good reasons (outlined below) why:


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