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Federal Court NSD1654/2018 - "Model Litigant" commitment by Phil Chronican

Phillip Sweeney made this Freedom of Information request to Australian Securities and Investments Commission

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From: Phillip Sweeney

Delivered

Dear Australian Securities and Investments Commission,

On the 27 March 2019, Phil Chronican, the Acting NAB Group CEO, will be committing NAB {and its subsidiaries} to act as a "Model Litigant" when suing and when being sued {for example by ASIC}. This public commitment will be made before the House of Representatives Standing Committee on Economics in Canberra.

At the NAB Annual General Meeting on 19 December 2018 a copy of a Deed of Variation dated 20 November 1974 was provided to the previous NAB CEO, Andrew Thorburn, after the AGM.

This Deed confirms that NAB's superannuation trustee, NULIS Nominees (Australia) Ltd, should be now paying death benefits in the form of a survivorship pension to the widows of members who joined a sub-fund now administered by NULIS before it was closed to new members on 30 November 1997.

This sub-fund has been known by many names, however, it was established by a Trust Deed made on the 23 December 1913 in the State of South Australia.

The founding Trust Deed reserved a Power of Termination which when exercised in accordance with its terms would allow the legal obligations annexed to the Trust Estate {fund) (to be brought to an end at a future date) {for example if this fund and its members were subject to a "successor fund transfer" to another fund}.

A request has been made to NULIS to provide to ASIC a copy of the instrument under hand that would evidence that the Power of Termination has been exercised in accordance with its terms, should such a document exist.

I am seeking a copy of this document if ASIC now has possession of this document as provided by NULIS.

The widows' pension benefit is provided by Regulation 30A in the Deed of Variation date 20 November 1974 {Note: ASIC does have possession of a copy of this Deed of Variation where the Sponsoring Employer in 1974 was called Elder Smith Goldsbrough Mort Ltd}.

I am also seeking a copy of a later dated Deed of Variation {and properly duty stamped} that might purport to delete or otherwise abrogate the widows' pension entitlement, that might have been provided to ASIC by NULIS.

The search period is from when ASIC commence proceeding against NULIS in the Federal Court to the present.

Yours faithfully,

Phillip Sweeney

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From: Jessica Zhang
Australian Securities and Investments Commission


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Attachment Notice of S24AB.pdf
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Dear Mr Sweeney,

 

Please see attached correspondence.

 

Kind regards,

 

Jessica Zhang
Freedom of Information Officer, Chief Legal Office

Australian Securities and Investments Commission

Level 7, 120 Collins Street, Melbourne, 3000

Tel: +61 (03) 9280 4156

[1][email address]

[2]ASIC logo

 

 

Please consider the environment before printing this document.

 

Information collected by ASIC may contain personal information. Please
refer to our [3]Privacy Policy for information about how we handle your
personal information, your rights to seek access to and correct
your personal information, and how to complain about breaches of your
privacy by ASIC.

 

This e-mail and any attachments are intended for the addressee(s) only and
may be confidential. They may contain legally privileged, copyright
material or personal and /or confidential information. You should not
read, copy, use or disclose the content without authorisation. If you have
received this email in error, please notify the sender as soon as
possible, delete the email and destroy any copies. This notice should not
be removed.

References

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3. https://www.asic.gov.au/privacy

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From: Phillip Sweeney

Delivered

Dear Jessica Zhang,

The Defined Benefit superannuation fund has been known by many names.

Before 20 January 2014 it was known as the AusBev Superannuation Fund.

After 20 January 2014 when the fund came under the administrative control of the National Australia Bank trustee, PFS Nominees Pty Ltd, this Defined Benefit Fund was known and the Carlton and United Breweries sub-plan.

This name was retained when this fund came under the administrative control of another NAB trustee, NULIS Nominees (Australia) Ltd on 1 July 2016.

Please note that in a Defined Benefit fund members do not have individual investment accounts - all the fund's assets are held in a common asset pool that has to be identified as an individual accounting entity so that the fund can be subject to review by the fund actuary

Yours sincerely,

Phillip Sweeney

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From: Jessica Zhang
Australian Securities and Investments Commission


Attachment image002.jpg
3K Download

Attachment Decision Letter.pdf
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Dear Mr Sweeney,

 

Please see attached correspondence.

 

Kind regards,

 

Jessica Zhang
Freedom of Information Officer, Chief Legal Office

Australian Securities and Investments Commission

Level 7, 120 Collins Street, Melbourne, 3000

Tel: +61 (03) 9280 4156

[1][email address]

[2]ASIC logo

 

 

Please consider the environment before printing this document.

 

Information collected by ASIC may contain personal information. Please
refer to our [3]Privacy Policy for information about how we handle your
personal information, your rights to seek access to and correct
your personal information, and how to complain about breaches of your
privacy by ASIC.

 

This e-mail and any attachments are intended for the addressee(s) only and
may be confidential. They may contain legally privileged, copyright
material or personal and /or confidential information. You should not
read, copy, use or disclose the content without authorisation. If you have
received this email in error, please notify the sender as soon as
possible, delete the email and destroy any copies. This notice should not
be removed.

References

Visible links
1. mailto:[email address]
3. https://www.asic.gov.au/privacy

Link to this

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