Dear Australian Prudential Regulation Authority,

It has been now well documented that AMP made up to 20 misleading statements to ASIC about the extent of its charging customers fees without providing services.

It is now alleged that the National Australia Bank (NAB) made misleading statements to APRA on or around 20 January 2014 concerning the legal status of an occupational pension scheme established by a Trust Deed executed on the 23 December 1913 in the State of South Australia. This occupational pension scheme was once known as the Elders IXL Superannuation Fund.

Superannuation funds are a form of a "trust" and if the founding Trust Deed of the trust does not reserve a Power of Revocation of a Power of Termination then the trust is irrevocable.

The NAB advised APRA on or around 20 January 2014 that the Power of Termination reserved in the Trust Deed executed on the 23 December 1913 had been exercised in accordance with its terms which would then allow the annexed legal obligations to be terminated and the related fund "wound-up".

Based on this advice from NAB, APRA then revoke Fund Registration Number R1004830.

This raises the question of whether NAB made a misleading statement to APRA in a similar manner as did AMP to ASIC?

This allegation will be proven to be false if APRA is in possession of either of the following documents:
(i) An instrument under hand signed by all of the directors of SABMiller plc (a 'successor company' as described by the Elder Smith & Co Ltd Provident Funds Act 1963 (SA)) and signed by all of the lawfully appointed trustees or trustee which would evidence the Power of Termination has been exercised in accordance with its terms; or
(ii) A letter to APRA from PFS Nominees Pty Ltd (a NAB subsidiary company) which advises APRA that such a document exists and is available for inspection by APRA.

The document(s) I seek are copy of either of these documents which would confirm that the National Australia Bank (NAB) did not make a misleading statement to APRA.

Yours faithfully,

Phillip Sweeney