Superannuation Industry (Supervision) Amendment Regulations 2002 (No. 4)

(171 of 2002)

3 July 2002

Made under Superannuation Industry (Supervision) Act 1993

1   Name of Regulations

These Regulations are theSuperannuation Industry (Supervision) Amendment Regulations 2002 (No. 4).

2   Commencement

These Regulations commence on gazettal.

3   Amendment of Superannuation Industry (Supervision) Regulations 1994

Schedule 1 amends the Superannuation Industry (Supervision) Regulations 1994.

Schedule 1   Amendments

[1]   Subregulation 2.04 (1)

omit

Division 2.4,

insert

Division 2.4 or 2.5,

[2]   After regulation 2.04

insert

2.05 Charges for information requested

(1) Subject to this regulation, the obligation of the trustee of a superannuation entity under these Regulations to give information on request by a person arises only if the person pays the amount specified by the trustee as the charge for giving the information.

(2) The amount of the charge must not exceed the reasonable cost to the superannuation entity of giving the information (including all reasonably related costs - for example, costs of searching for, obtaining and collating the information).

(3) A policy committee is not liable to any charge for information given to it.

[3]   Regulation 2.17, definitions of member information and member reporting period

substitute

member information means information required to be given under section 1017D of the Corporations Act 2001.

member reporting period means a reporting period that applies under section 1017D of the Corporations Act 2001.

[4]   After Division 2.4

insert

Division 2.5 Information on request

2.30 Application

(1) This Division applies to a superannuation entity.

(2) For subsections 31 (1), 32 (1) and 33 (1) of the Act, a requirement of this Division is a standard applicable to the operation of a superannuation entity.

2.31 Documents may be made available for inspection

It is sufficient compliance with a requirement under this Division to give information, or to give a copy of a document, to a person if:

(a) a document containing the information; or

(b) a copy of the document;

as the case requires, is made available for inspection by the person:

(c) at a suitable place (having adequate facilities for the person to inspect and photocopy the document); and

(d) during normal business hours;

or as otherwise agreed between the trustee of a superannuation entity who is required to give the information to the person, and the person.

2.32 Time for compliance

The trustee of a superannuation entity must comply with a request to give information, or a copy of a document, as soon as practicable, and in any event the trustee must make reasonable efforts to comply with the request within 1 month after receiving the request.

2.33 Specific requirements

(1) In this regulation:

concerned person has the same meaning as in section 1017C of the Corporations Act 2001.

(2) The trustee of a superannuation entity (other than a self managed superannuation fund) must give to a person (other than a concerned person), on request in writing by the person, a copy of any of the following documents (to the extent the trustee has access to the documents) specified in the request:

(a) audited accounts of the superannuation entity, together with (whether or not specifically requested) the auditor's report in relation to the accounts;

(b) for a regulated superannuation fund or approved deposit fund - a copy of the fund information that was most recently given to the members;

(c) for a PST - a copy of the information mentioned in Subdivision 5.7 of Part 7.9 of the Corporations Regulations 2001 that was most recently given to the members.