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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,

Prime and HIP Merger

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

Background

A “successor fund transfer” was completed on 1 May 2014:
Transferor Trustee is Private Hospitals Superannuation Pty Ltd (ABN 59 006 792 749) L0001533
Transferor Fund is Health Industry Plan( ABN 50 030 598 247)
Transferee Trustee is Prime Super Pty Ltd (ABN 81 067 241 016) L0000227
Transferee Fund is Prime Super (ABN 60 562 335 823)

The incumbent Chairman of Prime Super Pty Ltd is Alan Bowman.

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 Prime Super Pty Ltd.

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.

Yours faithfully,

Phillip Sweeney

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