Copy of an executed and duty stamped Super Fund Amending Deed

Response to this request is delayed. By law, Australian Prudential Regulation Authority should normally have responded promptly and by (details)

Phillip Sweeney

Dear Australian Prudential Regulation Authority,

Attached to an FOI response from Owen Brailsford (APRA) dated 21 March 2011 was a copy of an unexecuted draft copy of a document titled “Foster’s Group Superannuation – Amending Deed – {Replacing the Rules relating to the Fund in their entirety}”

The footer of this unsigned document was dated 30 March 2006.

The “Fund” means the Foster’s Group Superannuation Fund established under the Deed.

The “Deed” means the Deed dated 23 December 1913 as amended from time to under which the Fund was established.

The founding Trust Deed was executed in the State of South Australia and its provisions, including the Power of Amendment, were amended by the Elder Smith and Co Limited Provident Funds Act 1963 (SA). This confirms that the proper law for this superannuation trust is the law of South Australia.

The Commissioner of State Taxation (SA) has confirmed that amending Deeds related to trusts established in South Australia executed before 1 July 2006 were requires to be duty stamped pursuant to Section 22 of the Stamp Duties Act 1923.

The unsigned signing page identified the parties as:

- Foster’s Group Superannuation Limited; and
- Foster’s Group Limited

The corporate trustee Foster’s Group Superannuation Limited was registered on 13 November 1973 and was deregistered on 29 October 2008.

The correspondence between the trustee and APRA at the time indicated that an executed (and presumably duty stamped) copy of this purported amending Deed would be subsequently provided to APRA.

The trust estate (assets) of this Defined Benefit superannuation scheme was transferred to the control of NULIS Nominees (Aust) Ltd on 1 July 2016 and the directors of NULIS rely on this purported amending Deed for not paying a survivorship pension to the widows of qualifying male fund members who joined this Defined Benefit fund before it was closed to new members on 30 November 1997.

A qualified death benefit for widows of qualifying male fund members was provided in the founding 1913 Trust Deed.

NULIS is a subsidiary company of the National Australia Bank.

The document I seek is a copy of the executed (and presumably duty stamped) version of the draft document supposedly provided to APRA where the draft document had been provided to me by Owen Brailsford.

Yours faithfully,

Phillip Sweeney

Freedom of Information, Australian Prudential Regulation Authority

Dear Mr Sweeney,

I acknowledge receipt of your FOI request dated 6 May 2021. We are processing your request and will respond soon.

Regards,

FOI OFFICER
T 02 9210 3000 | E [APRA request email]

AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY
1 Martin Place (Level 12), Sydney, NSW 2000
GPO Box 9836, Sydney, NSW 2001
T 02 9210 3000 | W www.apra.gov.au

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Freedom of Information, Australian Prudential Regulation Authority

Dear Mr Sweeney,

APRA is currently considering your FOI request.

APRA is requesting your consent to an extension of the processing period for your FOI request by 30 days under section 15AA(a) of the FOI Act.

APRA is due to decide your request by 5 June 2021. However, we require an extension of time to continue consultations and would appreciate your agreement to extending the processing period for your request. If you agree to the requested 30-day extension, APRA will decide your request by 5 July 2021.

Please advise in writing if you consent to this extension of time.

Kind regards,

FOI OFFICER
T 02 9210 3000 | E [APRA request email]

AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY
1 Martin Place (Level 12), Sydney, NSW 2000
GPO Box 9836, Sydney, NSW 2001
T 02 9210 3000 | W www.apra.gov.au

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Dear Freedom of Information,

I agree to the extension

Yours sincerely,

Phillip Sweeney