Another clause will remove a requirement for financial planners to write to clients annually informing them they are continuing to receive yearly payments from their accounts, and every second year to invite them to "opt in" to continue the payments. The first letters are due at the end of this financial year.

Because the legislation is unlikely to pass the Senate in time, the government will introduce separate regulations to bypass Parliament and have a more immediate effect.

Fairfax Media understands the regulations will be put to the Governor-General and Executive Council on or about Friday, March 28, the day after Parliament rises for a six-week break.

Assistant Treasurer Arthur Sinodinos did not respond to inquiries.

The timing means Parliament would be unable to disallow the regulations for at least six weeks and probably longer. The minister is not required to table the regulations for five sitting days. The Senate meets for only three days in May.