The Class Order commenced on 1 July 2014, and modifies SIS section 29QB by providing a safe harbour so that if superannuation fund trustees update their funds’ websites within the following time frames, they will be taken to comply with the provision:

  • Remuneration Disclosure (SIS Regulation 2.37):
    • item 1 (names of each relevant executive officer): within 20 business days after the person is appointed or changes his or her name;
    • items 2 to 4 (appointment, change of position and retirement dates): within 20 business days after the appointment, change or retirement occurs; and
    • items 5 to 16 (payments, benefits and compensation): within 4 months after the end of the most recently completed financial year; and
  • Document Disclosure (SIS Regulation 2.38):
    • the current trust deed, amendments, governing rules and rules relating to the nomination, appointment and removal of trustees or trustee directors: within 20 business days after the document takes effect;
    • the most recent actuarial report for each defined benefit fund: within 20 business days after the trustee receives the report;
    • the most recent product disclosure statement (PDS) for each superannuation product: within 20 business days after a copy of the PDS (including any Supplementary PDS or Replacement PDS) is first given to a person in a recommendation, issue or sale situation;
    • the previous financial year’s annual report: within 20 business days after it is first provided or made available to a member;
    • the financial services guide: within 20 business days it is first given to a person;
    • summary of each significant event or material change notice within the previous 2 years: within 20 business days after the notice is first sent to members;
    • name and Australian Business Number of each outsourced service provider who provides a service which may affect a material business activity of the entity: within 20 business days after the person is appointed to provide the service;
    • the name, qualifications and summary of each executive officer’s experience as a trustee board member: within 20 business days after:
      • the person has been appointed as an executive officer; or
      • the end of each financial year during which the person served as a trustee or executive officer;
    • records of attendance at Board meetings: within 20 business days after the end of each financial year;
    • registers of relevant interests and relevant duties: within 20 business days after the end of the quarter in which the relevant register was last amended;
    • summary of the conflicts management policy: within 20 business days after the policy being established or amended;
    • proxy voting policies: within 20 business days after the policy being established or amended;
    • the summary of how the trustee exercised its voting rights: within 20 business days after the end of the relevant financial year;
    • constitution: within 20 business days after the constitution or any amendment taking effect; and
    • annual financial statement: the day that the statement is first lodged with ASIC or provided to a member.