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New Zealand Superannuation and Retirement Income Amendment Bill

Introduced on Nov 2013. Allows guardians to control entities formed to hold, facilitate or manage investments. The bill completed its first reading on a voice vote on March 19 and was sent to the Finance and Expenditure Committee for consideration. Submissions closed on May 5. Reported back on July 30 with a number of minor amendments mainly around the control of Fund investment vehicles. Completed its second reading on May 7 and committee stage on June 30 with the Government making amendments to further remove ministerial oversight from the fund’s activities. Completed its third reading on October 20 with Bill English saying he did not believe there should be political interference in the Fund. English indicated there was on-going work by Treasury on the Superfund’s management of risk. Only the Greens were opposed to the bill.  New Zealand Superannuation and Retirement Income Amendment Bill