Industry News
The Western Australian Government has announced $5.2 million over four years to build the state’s international profile in science through the support of WA’s Nobel Laureates and the attraction of new research fellows.
Science and Innovation Minister John Day said the government was focused on building the state’s research profile internationally and building a strong knowledge economy.
“A strong foundation of knowledge and expertise is paramount to the continued growth and development of the State’s economy,” he said.
“This funding will be used to attract distinguished researchers to carry out research of strategic importance to the State through the WA Research Fellowships Program.
“The applicants will join high achievers such as Professor Shaun Collin, who was awarded a Fellowship in 2009 and moved to Perth from Queensland. Since his arrival, Professor Collin has enhanced the State’s research profile internationally in the areas of neuroscience, marine biology, ecology, deep-sea biology and sensory neurobiology.”
The Minister said the funding would also support the activities of WA’s Nobel Laureates, Dr Robin Warren and Professor Barry Marshall, to promote the State’s existing world-class research and innovation capabilities.
Queensland plumbers to help cut red tape
The Queensland Government has invited the plumbing industry to provide feedback on the proposed regulation amendments to reduce red tape in the industry.
State Housing and Public Works Minister Bruce Flegg said the proposed changes to the Plumbing and Drainage Act 2002 would increase the scope of ‘notifiable works’ that can be undertaken without Council approval.
“Following the passage of amendments through Parliament in February, Building Codes Queensland has now released the draft tables outlining the proposed notifiable, minor and unregulated categories of work for consultation,” Dr Flegg said.
“Notifiable work will apply to most work on existing buildings, including extensions and additions.
“For Queenslanders, this means everyday plumbing work can be self-certified by the plumber, eliminating the need for local government permits which can be costly and cause delays.
“Work by plumbers and drainers will still be audited by the Plumbing Industry Council and local governments to ensure compliance and health and safety standards remain high.”
Dr Flegg said the proposed changes would create a more efficient process, saving time and money for local governments.
“By reducing the amount of routine work that must receive approval before commencement, these reforms will allow local governments to more precisely target their inspection programs towards high-risk areas and may lead to faster processing of applications.”
The industry has until Friday 22 June 2012 to make submissions.
The draft tables outlining the proposed notifiable, minor and unregulated categories of work can be viewed at:http://www.dsdip.qld.gov.au/plumbing/proposed-new-schedules-for-notifiable-work.html.
Questions and comments on the draft schedules can be submitted by:
·Post to PO Box 15009 City East QLD 4002
·By email to plumbers@dlgp.qld.gov.au
·Online through the Get Involved website at www.getinvolved.qld.gov.au
For further questions about notifiable work, please email plumbers@dlgp.qld.gov.au or call 1800 264 585.
Housing affordability rises
The HIA-Commonwealth Bank Housing Affordability Index has recorded the fifth straight quarter of improvement in its March 2012 report. The Index improved by 6.4 per cent in the March quarter, finishing 11.0 per cent higher over the year.
In the March quarter we observed a modest increase in earnings, a modest decline in lending rates and a softening in the median dwelling price, so all factors moved in a direction which improved housing affordability,” said HIA’s Senior Economist, Andrew Harvey.
“Cuts to the RBA cash rate totalling 50 basis points in late 2011 should have provided a much larger boost to affordability in the quarter but the impact was eroded as lenders widened the margin between mortgage rates and the cash rate. After accounting for the wider margins, the average mortgage rate during the March quarter was only 13 basis points lower than in the December quarter.”
The cut to the official cash rate in May is expected to see further improvement in housing affordability.
Sydney and Perth both recorded deteriorating affordability in the March quarter of 2012 with their indices falling by 1.0 per cent and 1.8 per cent respectively. Affordability improved in the remainder of Australia’s capital cities with Melbourne up by 7.3 per cent, Brisbane up by 6.3 per cent, Adelaide up by 7.3 per cent, Hobart up by 3.0 per cent and Canberra up by 7.1 per cent.
Outside of the capital cities, affordability improved in all states with the exception of Victoria which was unchanged. Affordability in non-metropolitan New South Wales was up by 2.4 per cent, Queensland was up by 4.5 per cent, South Australia was up by 6.4 per cent, Western Australia was up by 8.7 per cent and Tasmania was up by 0.4 per cent.
NWRCC considers boost to FWA
Federal Minister for Workplace Relations Bill Shorten has convened the 114th meeting of the National Workplace Relations Consultative Council (NWRCC).
The council was asked by Mr Shorten to consider a range of proposals to amened the Fair Work (Registered Organisations) Act 2009 to improve financial accountability and transparency in registered organisations and to increase penalties to improve Fair Work Australia’s (FWA) investigation process.
The council considered the following suggestions made by Mr Shorten:
- provide a greater degree of disclosure of remuneration, expenditure and pecuniary interests of officials;
- enhance the capacity of Fair Work Australia to make inquiries and investigate suspected breaches of the Act;
- increase a range of civil penalties currently imposed under the Act; and
- increase awareness of financial governance and accounting obligations.
The Council has given in principle support to the proposals put forward by Minister Shorten and supports the passage of amendments reflecting these proposals in the Parliament, subject to consultation on the final detail over coming days.
Government announces bullying blitz
Prime Minister Julia Gillard and Workplace Relations Minister Bill Shorten have announced the Federal Government will conduct a review into bullying in the workplace.
The review will aim to investigate the nature, causes and extent of workplace bullying in the country while considering proposals to prevent bullying cultures developing in the workplace while helping those that have been the victim of workplace bullying.
The announcement comes after the Productivity Commission estimated that workplace bullying sheared off between $6 billion and $36 billion from the economy.
The terms of reference of the review are the following:
- the prevalence of workplace bullying in Australia and the experience of victims of workplace bullying;
- the role of workplace cultures in preventing and responding to bullying and the capacity for workplace-based policies and procedures to influence the incidence and seriousness of workplace bullying;
- the adequacy of existing education and support services to prevent and respond to workplace bullying and whether there are further opportunities to raise awareness of workplace bullying such as community forums;
- whether the scope to improve coordination between governments, regulators, health service providers and other stakeholders to address and prevent workplace bullying;
- whether there are regulatory, administrative or cross-jurisdictional and international legal and policy gaps that should be addressed in the interests of enhancing protection against and providing an early response to workplace bullying, including through appropriate complaint mechanisms;
- whether the existing regulatory frameworks provide a sufficient deterrent against workplace bullying;
- the most appropriate ways of ensuring bullying culture or behaviours are not transferred from one workplace to another; and
- possible improvements to the national evidence base on workplace bullying.
The Review will be undertaken by the House Standing Committee on Education and Employment, comprising members from both major parties. It will consult extensively with the community and will report by 30 November 2012.
Hastie Group enters liquidation
Engineering services company Hastie Group has announced the appointment of Voluntary Administrators after it was revealed last week that the company had found accounting irregularities to the value of an estimated $20 million. The impending collapse of the company casts doubt over the 2,000 people employed in Victoria and New South Wales.
A syndicate of banks led by the ANZ and including the Commonwealth Bank, National Australia Bank, Westpac, Bank of Scotland, Ulster Bank, HSBC Australia and HSBC Middle East, is owed $500 million, thought to be split equally between debt and equity.
The company announced irregularities in its Services Group – Northern Region Business, and is expected to shave $20 million off the company’s final profits. After preliminary investigations, the company found the irregularities date from the 2009 financial year and are the result of deliberate actions of a current employee.
The irregularities have compounded existing issues with debt with the company’s banks, raising concerns that the company’s $540 million debt could be forced to be written down in the event of the company’s collapse.
The company has referred the matter to the Australian Securities and Investments Commission (ASIC).
The Directors of Hastie Group have appointed Ian Carson, David McEvoy and Craig Crosbie of PB Advisory as administrators of the company and its 44 subsidiaries.
Hastie has operations in Australia, New Zealand, the UK and Ireland, and the Middle East, employing around 7000 people in total.
Dual SKA announced
The International Square Kilometre Array Organisation has announced a dual site solution for the construction of the Square Kilometre Array telescope, with Australia, New Zealand and South Africa sharing the construction of the world’s largest and most sensitive radio telescope.
The SKA Organisation found that both sites were well suited for the construction of the array, but South Africa was the preferred site.
South Africa will host the majority of SKA dishes in Phase 1, combined with the MeerKAT dishes. Further SKA dishes will be added to the ASKAP array in Australia, while mid frequency dishes in Phase II will be constructed in South Africa and New Zealand.
The South African project is located in the Karoo region of the Northern Cape, while the Australian - New Zealand joint site spreads from the Murchison Shire in Western Australia's mid-west to the top of New Zealand's South Island.
Australia will construct a total of 60 dishes, all equipped with Australia’s phased array feed technology.
“This hugely important step for the project allows us to progress the design and prepare for the construction phase of the telescope. The SKA will transform our view of the Universe; with it we will see back to the moments after the Big Bang and discover previously unexplored parts of the cosmos.” Dr Michiel van Haarlem, Interim Director General of the SKA Organisation said.
The SKA will enable astronomers to glimpse the universe in the immediate aftermath of the Big Bang, with hopes of further investigating the nature of gravity and possibly discovering life beyond Earth.
Factors taken into account during the site selection process included levels of radio frequency interference, the long term sustainability of a radio quiet zone, the physical characteristics of the site, long distance data network connectivity, the operating and infrastructure costs as well as the political and working environment.
The agreement was reached by the Members of the SKA Organisation who did not bid to host the SKA (Canada, China, Italy, the Netherlands and the United Kingdom). The Office of the SKA Organisation will now lead a detailed definition period to clarify the implementation.
Minister for Innovation Senator Chris Evans welcomed the decision to share the $1.9 billion telescope, saying the project will benefit from pre-existing infrastructure and technology.
“A significant amount of funding has already been invested into developing first class research facilities like the CSIRO Australian Square Kilometre Array Pathfinder (ASKAP) in Western Australia,” Senator Evans said.
“Sharing the project means researchers will get the best possible results by capitalising on the respective infrastructure and strengths of both sites.”
The $2 billion project, comprising 3000 dishes, will be funded by a consortium of 20 nations. Concerns have been expressed, however, about the availability of long-term funding for the project in the light of the current economic turbulence.
SKA South Africa has set aside R1.4-billion for the first phase of the project which will see the completion of South Africa's MeerKAT radiotelescope, while Australia has spent A$220 million on its national telescope project.
Government opens Pilbara to skilled migrants
The Federal Government has approved the first Enterprise Migration Agreement (EMA), granting permission to the new iron ore mining Roy Hill to seek skilled overseas labour.
Minister for Immigration Chris Bowen said the EMA would allow Roy Hill to sponsor up to 1,715 workers for the three-year construction phase through the 457 visa program, where they cannot find Australians to fill the positions.
"With more than 8,000 workers required during the construction phase of the Roy Hill project, there simply aren't enough people in the local workforce to get the job done,” Mr Bowen said.
Mr Bowen said the agreement would also allow for future employment of Australian locals.
"As part of the EMA, Roy Hill will provide up to 2,000 training places for Australians. This includes places for more than 200 Australian apprentices and trainees, as well as preparing over 100 Indigenous Australians to work in the construction industry," Mr Bowen said.
The Construction, Forestry, Mining and Energy Union (CFMEU) slammed the decision, saying it panders to business interests while compromising on job security.
“Apart from the impact on local workers, the CFMEU is also very concerned that these workers owe their temporary visas to their employer, and are under constant threat of deportation if they stand up for their rights or complain about dangerous conditions,” CFMEU National Secretary Dave Noonan.
Karratha health campus gets funding injection
The Western Australian Government has announced a $57.14 million funding injection for Karratha’s new health campus.
State Health Minister Kim Hames said the injection now made the campus the largest investment in a single piece of health infrastructure in the state.
“The additional funds will allow the development of a ‘one stop shop’ for health care, bringing together in the one place services such as acute care, population health and community mental health and drug services on to a new site that will have capacity to support potential partnerships with other private and non-government health providers; human service agencies and retail providers,” Mr Hames said.
Regional Development Minister Brendon Grylls said growth in the Pilbara triggered a review of services planning and the new health campus would be developed as an integrated district health service and support the smaller health services such as Roebourne, Wickham, Tom Price, Onslow and Paraburdoo.
“The intended design of the Karratha Health Campus will facilitate the delivery of seamless health care for the West Pilbara community through better integration and co-location of services and improved information technology,” Mr Grylls said.
WA announces $8.9 million for regional airports
The Western Australian Government has announced a $8.9 million funding package for regional airports across the state.
The funding is comprised of $6.9 million from the State Government’s Royalties for Regions scheme, with the remaining $2 million coming through the department of Transport’s Regional Airports Development Scheme.
“This year, 36 regional airports will share up to $8.9million for infrastructure upgrades, maintenance programs and infrastructure planning studies to provide improved air transport access for communities, safer emergency evacuations and greater tourism opportunities,” State Transport Minister Troy Buswell said.
The largest grant for the 2012-13 funding round was awarded to Fitzroy Crossing Airport ($1.8 million) to reconstruct the runway. This project is co-funded by the Federal Government’s Regional Aerodrome Upgrade Grant program.
Merredin Airport was awarded the second largest grant of $1 million to re-surface the runway and taxiway. These improvements will allow regular passenger transport flights to operate safely at Fitzroy Crossing and pilot training to continue at Merredin Airport.
Telstra cloud service security approved
Telstra’s new infrastructure-as-a-service cloud service platform has been independently certified as complaint to industry security standards.
The service is now ISO27001 certified, meaning the company’s dedicated cloud computing platforms, backup and recovery service, associated operation systems and tools have been assessed to the highest industry security standard.
Mark Pratley, Telstra General Manager of Cloud Computing, said the accreditation of Telstra’s infrastructure-as-a-service platform is another part of the organisation’s ongoing investment in cloud.
“The cloud market, in particular infrastructure-as-a-service, represents a new approach to how IT is delivered for organisations and Telstra is very serious about making sure our cloud computing platform is not just secure but independently audited, giving our customers the confidence their data and applications are protected and safe,” Mr Pratley said.
“Receiving ISO27001 certification follows a strict independent audit of our infrastructure and security practices in connection with our infrastructure-as-a-service platform, which are in accordance with strict global standards,” Mr Pratley said,
Wagga Wagga mental health unit approved
The New South Wales Government has given planning approval for the construction on the new 50-bed mental health unit as part of the ongoing redevelopment of the wagga Wagga Base Hospital Redevelopment.
State Minister for Health, Jillian Skinner, said the new unit will considerably improve the region’s capacity to deal with community needs.
“The number of mental health beds will total 50, after an increase of 30 overall and will include a 20-bed sub-acute unit,” Mrs Skinner said.
“The unit will provide a modern environment for the care and treatment of 50 residential patients,” she said.
The Member for Wagga Wagga, Daryl Maguire, said the new facility will include a direct link into the new acute hospital and is expected to be operational by 2013.
“The new mental health unit is the first phase of the Wagga Wagga Base Hospital redevelopment, which will be built in progressive phases to allow the hospital to continue operation during construction,” Mr Maguire said.
“Phase 2, which includes new facilities for emergency services, operating theatre and inpatient unit, will start immediately after the occupation of the mental health building,” he said.
The project is jointly funded by the NSW and Commonwealth governments.
Bulk billing rates reach all time high
Bulk billing rates have reached a record high in the March quarter, with 81.2 of HP services being bulk billed.
“While bulk billing rates can fluctuate, the Government is pleased to see they have been trending up for some years and are now at record highs,” Health Minister Tanya Plibersek said.
Ms Plibersek said in the March quarter bulk billing records were also set for pathology (88%), diagnostic imaging (74.1%), and radiation therapy (54.8%).
Ms Plibersek said $4.3 billion was paid out in Medicare benefits in the quarter, up from $3.9 billion in the 2011 March quarter, an increase of 9.8%. This was in respect to 83.1 million services.
Children's oral health improving
A report published by the Australian Institute of Health and Welfare (AIHW) has found that Australian children’s oral health as ‘improved markedly’ over the last 30 years.
The Child Dental Health Survey Australia 2007: 30-year trends in child oral health report describes the overall oral health status of Australian children examined by school dental staff in 2007, compared with that in 1977.
‘The good news is that between 1977 and the mid-1990s, the average number of deciduous (baby) teeth affected by caries halved in children aged 6,’ said Professor Kaye Roberts‑Thomson of the AIHW’s Dental Statistics and Research Unit.
Caries in the permanent teeth of children aged 12 declined even more dramatically—in 1993, children aged 12 had less than one-quarter the number of teeth affected by caries than in 1977.
‘However, in both age groups, the average number of caries has increased slightly since the mid-1990s,’ Professor Roberts-Thomson said.
The report found that just under half (46 per cent) of children examined had a history of decay in their baby teeth. In contrast, one-tenth of children aged 6 with the most extensive history of tooth decay had almost 10 baby teeth affected—over 5 times the national average.
‘Among older children, 39% and 60% of children aged 12 and 15 respectively had some history of decay in their permanent teeth. The average number of teeth affected was one for 12 year olds and two for those aged 15. Again, the one-tenth of 12–15 year olds with the most extensive history of tooth decay had much higher numbers of teeth affected, with between 5.2 and 8.6 permanent teeth affected. This was more than 4 times the national average for those age groups,’ Professor Roberts-Thomson said.
The report can be found here
New study confirms value of cardiac output monitor
A new Australian study has confirmed the accuracy of a modern non-invasive cardiac output monitor that can replace a 40-year-old standard in this field.
The collaborative paper by researchers at The University of Queensland School of Medicine, the Florey Neuroscience Institute and the University of Melbourne compared the current accepted method of measuring cardiac output with a non-invasive accurate ultrasound monitor called USCOM.
The current gold standard cardiac monitor is the Pulmonary Artery Catheter (PAC), which involves insertion of a catheter into a patient's neck or groin.
The catheter is then positioned in their arteries through the heart before heating or cooling the blood.
Alternatively, the newer USCOM method simply involves placing a small ultrasound probe on the chest.
Professor Malcolm West, a Professor of Medicine at The University of Queensland School of Medicine and a paper co-author said: “The USCOM device is a simple method for accurately and non-invasively measuring central circulation a goal of cardiology for many years.
“To be non-invasive is a great advantage over the PAC.
“To be non-invasive and more accurate, means the device has the potential to change the way we approach management of many cardiovascular diseases including sepsis, heart failure and hypertension.”
Lead author, UQ School of Medicine PhD student Rob Phillips said the new study added to the growing global body of independent evidence which demonstrated that the USCOM device offered critical care clinicians a new gold standard for cardiovascular monitoring which could replace costly and dangerous catheter-based technologies.
“It confirms that the growing worldwide USCOM user base has the very best tool available to guide lifesaving cardiovascular treatments and improve the management of critical and widespread diseases,” Mr Phillips said.
The peer-reviewed paper was published recently in the Critical Care Research and Practice journal.
The researchers surgically implanted accurate measurement devices onto the great cardiac arteries, and then monitored their cardiac output using USCOM and PAC at rest and as medications were introduced.
They found that USCOM had a 1 per cent error compared with the surgical device, while the PAC error was 17 per cent, and that USCOM was six to eight times more accurate than the PAC for detecting changes associated with the common drugs used in cardiovascular management.
USCOM's non-invasive system uses external ultrasound similar to that used in pregnancy.
The ultrasound signal bounces off the red blood cells as they flow across the cardiac valves, the site of true cardiac output, and producing a unique echo from which the device then counts the cell echoes with extremely high accuracy allowing high fidelity cardiac output measurement.
Because of its accuracy the USCOM monitor is most useful for diagnosing circulatory abnormalities and guiding the standard interventions of fluid inotropes and vaso-active therapies.
The USCOM monitor has many clinical applications ranging from paediatrics, critical care, anaesthesia and emergency medicine.
New USCOM research is now being focused on improved understanding the great global healthcare challenges of sepsis, heart failure and hypertension, and their treatment.
Watch how it works: http://www.youtube.com/watch?v=ZOUr8WOfxrc&feature=player_embedded
Download paper - http://www.hindawi.com/journals/ccrp/2012/621496/
World's biggest stroke clot-buster trial reveals patient benefits
Patients given a clot-busting drug within six hours of a stroke are more likely to make a better recovery than those who do not receive the treatment, new research has found.
The trial was set up in 2000 by the University of Sydney's Professor Richard Lindley, while he was employed at the University of Edinburgh.
The study of more than 3000 patients is the world's largest trial of the drug rt-PA and was coordinated at the University of Edinburgh. Since coming to Sydney Medical School in 2003, Professor Lindley has continued as the co-principal investigator of the research.
The findings of the study are published today in The Lancet alongside an analysis of all other trials of the drug carried out in the past 20 years.
The trial found that following treatment with the drug rt-PA, which is given intravenously to patients who have suffered an acute ischaemic stroke, more patients were able to look after themselves.
"The trial results, together with the updated review, mean that rt-PA can now be offered to a much wider group of patients presenting with stroke", Professor Lindley said.
A patient's chances of making a complete recovery within six months of a stroke were also increased.
An ischaemic stroke happens when the brain's blood supply is interrupted by a blood clot. The damage caused can be permanent or fatal.
Researchers now know that for every 1000 patients given rt-PA within three hours of stroke, 80 more will survive and live without help from others than if they had not been given the drug.
The benefits of using rt-PA do come at a price, say researchers. Patients are at risk of death within seven days of treatment because the drug can cause a secondary bleed in the brain. The research team concluded that the benefits were seen in a wide variety of patients, despite the risks.
Stroke experts stress that these mortality figures need to be viewed in the context of deaths from stroke. Without treatment, one third of people who suffer a stroke die, with another third left permanently dependent and disabled.
Researchers say the threat of death and disability means many stroke patients are prepared to take the early risks of being treated with rt-PA to avoid being disabled.
The authors conclude that for those who do not experience bleeding, the drug improves patients' longer term recovery.
About half of those who took part in the trial were over 80.
"The trial underlines the benefits of treating patients with the drug as soon as possible and provides the first reliable evidence that treatment is effective for those aged 80 and over," Professor Lindley said.
The study also found no reason to restrict use of rt-PA - also known as alteplase - on the basis of how severe a patient's stroke has been.
Chief investigator Professor Peter Sandercock of the University of Edinburgh's Centre for Clinical Brain Sciences said: "Our trial shows that it is crucial that treatment is given as fast as possible to all suitable patients."
The trial was supported by the NHMRC and the Heart Foundation in Australia.
University of Adelaide sets up $50m agriculture endowment fund
The University of Adelaide has established a new $50m endowment fund to support in perpetuity capital works and research in agriculture.
The fund has been set up following the purchase of the remaining 1614 ha of Martindale Farm at Mintaro by a local farmer.
The combination of Martindale Farm (4143ha), Munduney Station at Spalding (7513ha) and Moralana Station, north of Hawker (61,817ha) has realised gross proceeds of more than $50 million.
University of Adelaide Vice-President, Services and Resources Mr Paul Duldig said investing the proceeds of the three properties into a dedicated endowment fund demonstrates the University's firm commitment to research and education in agriculture and animal sciences in keeping with the wishes of its benefactors.
"Teaching and research are our business, not operating commercial farms. We have been able to turn these assets into serious investment in the future of agriculture and animal sciences," Mr Duldig said. "This is through expanded infrastructure for research and teaching and increased research capacity at both our Waite and Roseworthy campuses."
"Agriculture remains one of the cornerstones of education and research at the University of Adelaide and this endowment fund will help us maintain our position among the world's leading researchers in this area, tackling some of the major issues facing the sector."
Mr Duldig said the University was very pleased to be establishing such a major endowment fund. "These properties came to the University through generous bequests and we are delighted that the realisation of these bequests has allowed us to invest so significantly in the future of South Australian agriculture and animal sciences, just as they wished," he said.
"All properties have gone to South Australian owners for the benefit of local communities, and the results achieved reflected the high quality of facilities built and property maintenance over the years."
In May 2010, existing property user BTG Australasia bought the first part of Martindale Farm (1564ha) ensuring the continuation of the South Australian pharmaceutical operation.
New planning principles for airports
The Standing Council on Transport and Infrastructure (SCOTI) has announced a set of new principles for land-use planning aimed at protecting airports and communities from ‘inappropriate’ off-airport developments.
The agreement will attempt to balance interests of local communities and airports and maintain the social, economic and environmental needs of both groups.
Specifically, SCOTI has agreed to adopt the principles underpinning the National Airport Safety Framework along with a series of technical guidelines, which include:
- Guideline B - management of the risk of building generated windshear and turbulence at airports;
- Guideline C - management of wildlife hazards near airports such as land fill sites and bird attracting wetlands;
- Guideline D - wind turbine farms which might pose a hazard to aviation operations or create electromagnetic interference with navigation equipment;
- Guideline E - lighting which might act as a distraction to pilots; and
- Guideline F - processes to assess penetration of tall buildings into protected airspace around airports.
Progress on Super reforms
The Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Bill 2012 has passed through the House of Representatives, introducing measures recommended by the Cooper review into the governance, efficiency, structure and operation of Australia's superannuation system.
The Minister for Financial Services and Superannuation Bill Shorten said the Bill helps to close a regulatory gap by giving APRA standards-making power in superannuation.
"I flagged these reforms as early as December 2010. Today, this Government passed legislation through the lower house that gives the regulator and members new powers to go after rogue superfund directors," he said.
The Bill:
- requires a trustee to put the interests of members of funds first at all times;
- clearly identifies the duties that apply to directors of superannuation funds, including acting honestly and in the best interests of members; and
- includes a power for APRA to make prudential standards for superannuation.
The Superannuation Legislation Amendment (Stronger Super) Bill 2012 and Superannuation Supervisory Levy Imposition Amendment Bill 2012 have been referred to the Parliamentary Joint Committee on Corporations and Financial Services
The Superannuation Legislation Amendment (Stronger Super) Bill 2012:
- bans entry fees and sets criteria for the charging of other fees in superannuation, including rules for the charging of financial advice;
- requires all superannuation funds to provide life and TPD insurance to members (excluding defined benefit members) on an opt-out basis;
- enables APRA to collect information on a look-through basis;
- requires the disclosure and publication of key information in relation to superannuation funds;
- allows only MySuper funds to be eligible as default funds in modern awards and enterprise agreements;
- allows exceptions for members of defined benefit funds;
- requires trustees to transfer certain existing balances of members to MySuper; and
- provides rules in relation to ERFs.
The closing date for submissions has not yet been set.
More information is here
NSW establishes mental health line
The New South Wales Government has announced the formation of a new Mental Health Line to ensure that people with a mental health problem, their families and carers have access to a 24-hour support service.
The service will provide a telephone triage assessment and referral service staffed by mental health clinicians, who will direct callers to the most appropriate care.
The Mental Health Line will also be used to provide advice about clinical symptoms, the urgency of the need for care and local treatment options for service providers, such as general practitioners, police and ambulance officers.
The 1800 011 511 Mental Health Line is now fully operational.
Monash Vice-Chancellor term extended
Monash University Council has extended the term of the current Vice-Chancellor and President Professor Edward Byrne until the end of 2017.
University Chancellor, and Chair of the Monash University Council, Dr Alan Finkel said that since commencing in mid-2009 Professor Byrne had introduced and led a range of significant initiatives and strategies that had strengthened and advanced Monash University both nationally and internationally.
“Perhaps the most recent example of his record of success is the establishment of the Southeast University-Monash University Joint Graduate School in Suzhou, China. The finalisation of the agreement with the Chinese Government in April marked the first time an Australian university has been granted a licence to operate in China.”
Under Professor Byrne’s guidance the University cemented in February a first-of-its-kind alliance with the University of Warwick. The partnership aims to produce global graduates, and will allow the universities to jointly undertake research that will address problems that have proved too big for any one institution to address.
Professor Byrne was a founding director of the Melbourne Neuromuscular Research Unit and the Centre for Neuroscience in 1993. He was made Professor of Experimental Neurology at the University of Melbourne in 2001. He first came to Monash University as the Dean of the Faculty of Medicine, Nursing and Health Sciences, a role he held from 2003 until 2007.
Professor Byrne was then appointed the Vice Provost (Health) at University College London. He held that position until he became Monash University’s eighth Vice-Chancellor in 2009.