Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.10A - EXTERNAL DISPUTE RESOLUTION  

Division 3 - Additional provisions relating to superannuation complaints  

Subdivision A - When complaints relating to superannuation can be made under the AFCA scheme  

SECTION 1053   WHEN COMPLAINTS RELATING TO SUPERANNUATION CAN BE MADE UNDER THE AFCA SCHEME  

1053(1)  
A person may, subject to section 1056 , make a complaint relating to superannuation under the AFCA scheme only if the complaint is a complaint:


(a) that the trustee of a regulated superannuation fund or of an approved deposit fund has made a decision (whether before or after the commencement of this section) relating to:


(i) a particular member or a particular former member of a regulated superannuation fund; or

(ii) a particular beneficiary or a particular former beneficiary of an approved deposit fund;

that is or was unfair or unreasonable; or


(b) that a decision, by a trustee maintaining a life policy that covers a member of a life policy fund, to admit the member to the fund was unfair or unreasonable; or


(c) that the conduct (including any act, omission or representation) of an insurer, or of a representative of an insurer, relating to the sale of an annuity policy was unfair or unreasonable; or


(d) that a decision of an insurer under an annuity policy is or was unfair or unreasonable; or


(e) that a decision of a superannuation provider to set out, in a statement to which subsection (2) applies, an amount or amounts in respect of a person was unfair or unreasonable; or


(f) that the conduct (including any act, omission or representation) of an RSA provider, or of a representative of an RSA provider, relating to the opening of an RSA was unfair or unreasonable; or


(g) that a decision of an RSA provider relating to a particular RSA holder or former RSA holder is or was unfair or unreasonable; or


(h) that the conduct (including any act, omission or representation) of an insurer, or of a representative of an insurer, relating to the sale of insurance benefits in relation to a contract of insurance where the premiums are paid from an RSA, was unfair or unreasonable; or


(i) that a decision of an insurer relating to a contract of insurance where the premiums are paid from an RSA is or was unfair or unreasonable; or


(j) that a decision by a death benefit decision-maker relating to the payment of a death benefit is or was unfair or unreasonable.

Note 1: Section 1056 provides further limitations on when a superannuation complaint may be made to AFCA in relation to a decision about the payment of a death benefit.

Note 2: Certain persons are taken to be members of regulated superannuation funds or approved deposit funds, or holders of RSAs (see section 1053A ).

1053(2)  
This subsection applies to a statement given to the Commissioner of Taxation under:


(a) section 13 of the Superannuation Contributions Tax (Assessment and Collection) Act 1997 ; or


(b) section 12 of the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997 ; or


(c) subsection 133-120(2) or 133-140(1) in Schedule 1 to the Taxation Administration Act 1953 ; or


(d) section 390-5 or 390-20 in that Schedule.

1053(3)  
A complaint made in accordance with subsection (1) of this section is a superannuation complaint .

1053(4)  
However, a complaint is not a superannuation complaint to the extent that it is a complaint that:


(a) a decision made by a trustee of a self managed superannuation fund; or


(b) conduct engaged in by an insurer, or by a representative of an insurer, relating to the sale of an annuity policy maintained, or to be maintained, by a trustee of a self managed superannuation fund on behalf of its members; or


(c) a decision made by an insurer, or by a representative of an insurer, under an annuity policy maintained by a trustee of a self managed superannuation fund on behalf of its members;

is unfair or unreasonable.

1053(5)  
For the purposes of this section, a trustee, an insurer, an RSA provider or another decision-maker, makes a decision if:


(a) the trustee, insurer, RSA provider or other decision-maker, or a person acting for the trustee, insurer, RSA provider or other decision-maker, makes, or fails to make, a decision; or


(b) the trustee, insurer, RSA provider or other decision-maker, or a person acting for the trustee, insurer, RSA provider or other decision-maker, engages in any conduct, or fails to engage in any conduct, in relation to making a decision;

whether or not the decision or conduct involved the exercise of a discretion.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.