Treasury Laws Amendment (Financial Reporting and Auditing of Registrable Superannuation Entities) Regulations 2023 (F2023L00990)
Schedule 1 Amendments
Corporations Regulations 2001
7 After regulation 7.9.31
Insert:
7.9.31A Trustee of superannuation entity must provide fund information to holders of interests in the entity
For the purposes of paragraph 1017DA(1)(a) of the Act, the trustee of a superannuation entity must provide the holder of a superannuation product (being an interest in that entity) with the following fund information relating to the entity and any relevant sub-plan (within the meaning of section 1017C of the Act):
(a) if the entity is not a self managed superannuation fund - the name and ABN of each outsourced service provider that has provided, at any time in the previous 12 months, a service which may affect a material business activity of the entity;
(b) if the entity is not a self managed superannuation fund - the following information about each member of the key management personnel of the entity:
(i) the member's name;
(ii) the member's qualifications;
(iii) a summary of the member's experience as a trustee or board member, including the periods during which the member served as a trustee or board member;
(c) if the entity is not a self managed superannuation fund - the record of attendance at board meetings for each director of the entity for:
(i) the last 7 financial years; or
(ii) if a director has served for a period of less than 7 years - that period;
(d) the fund information specified in Subdivisions 5.6 and 5.7 of this Division that is applicable to the entity.
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