Main recommendations
ALRC 59
It should be a legislative requirement that there be a single entity responsible for each superannuation scheme.
Legislation should also strengthen the requirements of disclosure to members of the super scheme and the duties of the responsible entity to the members of the scheme.
A Superannuation Review Panel should be established to provide external review in disputes between members and the responsible entity.
ALRC 65
Trustees and managers of collective investment schemes should be replaced with a single responsible entity.
There should be tighter legislative control of scheme operators.
The disclosure requirements should be strengthened.
The obligation for scheme operators to buy back interests in the schemes should be abolished.
The Australian Securities Commission (ASC, now the Australian Securities and Investments Commission) should be given greater investigative and enforcement powers.
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The information on this page was current as of January 2005
This page was posted 28 October 2002
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