Australia's Worst White-Collar Crime and Cover-Up

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,

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

Background

A “successor fund transfer” was completed on 1 January 2013:
Transferor Trustee is AGEST Super Pty Ltd (ABN 44 007 390 392)
Transferor Fund is Australian Government Employees Superannuation Trust (AGEST) ( ABN 79 781 199 140)
Transferee Trustee is AustralianSuper Pty Ltd (ABN 94 006 457 987) L0000796
Transferee Fund is AustralianSuper (ABN 65 714 394 898)

The incumbent Chairman of AustralianSuper Pty Ltd is Heather Ridout (AO).

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 AustralianSuper 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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