Section 29QC of the Superannuation Industry (Supervision) Act 1993 (SIS Act) requires that information given to the public (e.g. in disclosure documents) be calculated in the same way that the information is reported to the Australian Prudential Regulation Authority (APRA) under an APRA reporting standard. ASIC Class Order [CO 14/541] provides relief from section 29QC of the SIS Act.

ASIC proposes to extend the exemption in [CO 14/541] for a period of two years until 1 January 2026. This means RSE licensees (superannuation trustees) would continue to be exempt from complying with disclosure obligations set out in subsection 29QC(1) of the SIS Act.

Providing feedback
Industry is invited to provide feedback on ASIC’s proposal, including whether the instrument is operating effectively and efficiently and/or whether any amendments are required. Comments should be sent by 12pm on 4 December 2023 to [email protected].

Additional information
You may choose to remain anonymous or use an alias when providing feedback. However, if you do remain anonymous, ASIC will not be able to contact you to discuss your feedback should we need to.

Please note, ASIC will not treat your feedback as confidential unless you specifically request that we treat the whole or part of it (such as any personal or financial information) as confidential.

Please refer to ASIC’s privacy policy for more information about how we handle personal information, your right to seek access to and correct personal information, and your right to complain about breaches of privacy by ASIC.