Document ID: chunk:federal_register_of_legislation:C2013C00431:clause:2_43
Version: federal_register_of_legislation:C2013C00431
Segment Type: clause
Provision Reference: sch 2 cl 43
Character Range: 46073–47182

43  Subsection 620(1)
Repeal the subsection, substitute:

Constitution of an Expert Panel for annual wage reviews
 (1) An Expert Panel constituted under this section for the purpose of an annual wage review conducted under Part 2‑6 consists of 7 FWC Members (except as provided by section 622), and must include:
 (a) the President; and
 (b) 3 Expert Panel Members who have knowledge of, or experience in, one or more of the following fields:
 (i) workplace relations;
 (ii) economics;
 (iii) social policy;
 (iv) business, industry or commerce.

Constitution of an Expert Panel for 4 yearly reviews of default fund terms etc.
 (1A) An Expert Panel constituted under this section for a purpose referred to in subsection 617(4) or (5) consists of 7 FWC Members (except as provided by section 622), and must include:
 (a) the President, or a Vice President or Deputy President appointed by the President to be the Chair of the Panel; and
 (b) 3 Expert Panel Members who have knowledge of, or experience in, one or more of the following fields:
 (i) finance;
 (ii) investment management;
 (iii) superannuation.