Amcor Super - Successor Fund Transfer

Phillip Sweeney made this Freedom of Information request to Australian Prudential Regulation Authority

Response to this request is long overdue. By law, under all circumstances, Australian Prudential Regulation Authority should have responded by now (details). You can complain by requesting an internal review.

From: Phillip Sweeney

Delivered

Dear Australian Prudential Regulation Authority,

Dear Australian Prudential Regulation Authority,

I am lodging a request for documents pursuant the Freedom of
Information Act 1982.

Background

This FOI request relates to a “successor fund transfer”.

Transferor Trustee is Transferor Fund is the Amcor Superannuation Fund.

Transferee Trustee is PFS Nominees Pty Ltd (ABN 16 082 026 480)

Transferee Fund is the Plum Superannuation Fund (ABN 20 339 905 340)

Following the purported "successor fund transfer" the Amcor Superannuation Fund is referred to as the "Amcor Superannuation Fund - Plan" under the Plum Superannuation Fund.

It is a mandatory requirement for the Trustees involved in a
“successor fund transfer” to submit an “approved form” pursuant to
subsection 145(2) of the Superannuation Industry (Supervision) Act
1993 {SIS Act} before APRA can approve the proposed “successor fund
transfer” pursuant to Section 146 of the SIS Act

If APRA were to approve a proposed “successor fund transfer”
without the lodgement of an “approved form” then APRA would be
acting “ultra vires” the SIS Act and the purported “successor fund
transfer” would be void.

If there was no lodgement of the mandated “approved form” this
would also be a governance issue for the Chairman and Board of
PFS Nominees Pty Limited.

The Chairperson of PFS Nominees Pty Ltd is Ms Nicole Smith.

The document I seek is the first two pages of the “approved form”
which would identify the Transferor Trustee and the Transferee
Trustee (and their ABNs) and the Transferor Fund and the Transferee
Fund (and their ABNs).

It is common sense that this would be the first information
provided to APRA in the event of a proposed successor fund
transfer.

This information related to the Trustees and the funds is in the
Public Domain and is not commercially sensitive information.

"Oh what a tangled web we weave, when at first we practice to deceive"

---Walter Scott

Yours faithfully,

Phillip Sweeney

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