Superannuation Industry (Supervision) Regulations 1994

REGULATION 2.40 GENERAL REQUIREMENT  
2.40(1)
Subject to subregulation (2), the trustee of a superannuation entity must give to a person, on request by the person, information that the person reasonably requires, as follows:

(a) if the person is a concerned person (as defined in subregulation (3)) - for the purposes of:

(i) understanding any benefit entitlements that the person may have, has or used to have; and

(ii) understanding the main features of the relevant sub-plan or, if none, of the entity; and

(iii) making an informed judgment about the management and financial condition of the entity and of the relevant sub-plan (if any); and

(iv) making an informed judgment about the investment performance of the relevant sub-plan or, if none, of the entity; and

(v) understanding the particular investments of the relevant sub-plan and the entity; or

(b) if the person is an employer-sponsor - for the purposes of:

(i) understanding the kinds of benefits to which the person's employees are entitled or will or may become entitled, and the main features of the relevant sub-plan or, if none, the entity; and

(ii) making an informed judgment about the management and financial condition of the entity and of the relevant sub-plan (if any); and

(iii) making an informed judgment about the investment performance of the relevant sub-plan or, if none, of the entity; and

(iv) a matter related to the SG(A) Act.

2.40(2)
This regulation does not require (or, by implication, authorise) the disclosure of:

(a) internal working documents of the entity; or

(b) information or documents that would disclose, or tend to disclose:

(i) personal information of another person if, in the circumstances, the disclosure would be unreasonable; or

(ii) trade secrets or other information having a commercial value that would be reduced or destroyed by the disclosure; or

(c) information or documents in relation to which the trustee of the entity owes to another person a duty of non-disclosure.

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History

Reg 2.40(2) amended by SR No 117 of 1997.

2.40(3)
In this regulation and regulation 2.41:

'concerned person'
means a person who:

(a) is, or was within the preceding 12 months, a member of the superannuation entity to which the request is made; or

(b) is a beneficiary of the superannuation entity to which the request is made.