Important Deed of Variation
Dear Australian Securities and Investments Commission,
The document I seek is a copy of a consolidation Deed of Variation dated 6 May 1958 for a superannuation fund where the sponsoring employer is Elder Smith & Co Limited.
This document includes Regulation 50 - the Power of Amendment Clause. Regulation 50 is referenced by the Elder Smith & Co Limited Provident Funds Act 1963 (SA).
Regulation 50 requires a majority of the natural person Directors of the sponsoring Employer to execute any Deed of Variation. This document complies with that requirement.
This document also includes Regulation 29 that provides a pension benefit to qualifying male officers where the pension benefit formula is [Years of Service]/[Age when Leaving Service] times [Final Average Salary].
The document also includes Regulation 52 which is the Power of Termination to terminate the trust.
No provision is made to allow the Trust Estate to be transferred to the Trust Estate of another superannuation fund.
Yours faithfully,
Julie Simpson
Dear Ms Simpson
I refer to your request for a document (Deed) under the Freedom of
Information Act 1982 (the FOI Act) set out below.
ASIC proposes to release the Deed to you administratively, that is,
outside of the FOI Act.
From the information you have been able to provide about the Deed we are
of the view that you are associated with (or may even be) a Mr Phillip
Sweeney who has provided documents like this to many government agencies
and then requested either by himself, his agents or using pseudonyms under
the FOI Act, the very documents which he has provided to those agencies.
We note that Mr Sweeney has previously been the subject of vexatious
applicant declarations under the FOI Act for, among other things, conduct
like that described above. We refer to the decisions of the
Administrative Appeals Tribunal in [1]Sweeney and Australian Information
Commissioner & Ors [2014] AATA 531 and [2]Sweeney and Australian
Information Commissioner and Australian Prudential Regulation Authority
(Joined Party) [2014] AATA 539.
One of the consequences of Mr Sweeney's conduct is that the document you
seek in your request is now publically available from many sources.
We note, of which you may be aware, that the Deed is already on ASIC's
disclosure log at item 36. The Deed, and parts thereof, also appears on
the disclosure logs of many other agencies including the [3]Administrative
Appeals Tribunal and the Australian Crime Commission.
There is a comprehensive list and copies of all deeds relevant to Mr
Sweeney's areas of concern published on a website that we understand is
closely associated with Mr Sweeney. Here is a link
[4]http://superfraud.org/?page_id=3187.
Given that the Deed is readily and publically available we ask that you
withdraw your FOI request, upon which we will provide you with a pdf copy
of the document if you advise that you still genuinely require it.
Otherwise, If you wish to proceed with the application under the FOI Act
for the purposes of having the Deed appear again on this agency's
disclosure log, please state that purpose.
Kind Regards,
Matt Povey
Senior Manager
Administrative Law Team
Chief Legal Office| ASIC | Melbourne
From: Julie Simpson <[FOI #1238 email]>
To: FOI requests at ASIC <[ASIC request email]>,
Date: 23/09/2015 07:11 AM
Subject: Freedom of Information request - Important Deed of
Variation
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Dear Australian Securities and Investments Commission,
The document I seek is a copy of a consolidation Deed of Variation dated 6
May 1958 for a superannuation fund where the sponsoring employer is Elder
Smith & Co Limited.
This document includes Regulation 50 - the Power of Amendment Clause.
Regulation 50 is referenced by the Elder Smith & Co Limited Provident
Funds Act 1963 (SA).
Regulation 50 requires a majority of the natural person Directors of the
sponsoring Employer to execute any Deed of Variation. This document
complies with that requirement.
This document also includes Regulation 29 that provides a pension benefit
to qualifying male officers where the pension benefit formula is [Years of
Service]/[Age when Leaving Service] times [Final Average Salary].
The document also includes Regulation 52 which is the Power of Termination
to terminate the trust.
No provision is made to allow the Trust Estate to be transferred to the
Trust Estate of another superannuation fund.
Yours faithfully,
Julie Simpson
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Please use this email address for all replies to this request:
[FOI #1238 email]
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please contact us using this form:
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Dear Ms Simpson,
I refer to the below email concerning your FOI request to ASIC dated 23
September 2015, titled "Freedom of Information request - Important Deed of
Variation" and note that we have not received a response.
I write to advise that if we do not receive a response to the issues
raised by Friday 16 October 2015, your request will be regarded as
withdrawn.
Mirijana Soldatic | FOI Coordinator| Chief Legal Office | Australian
Securities and Investments Commission |' +61 3 9280 3205 | 7 +61 3 9280
3444 | * [1][email address]