Western Australian Consolidated Acts Western Australian Consolidated Acts (1) As soon as
practicable after the last day of a Member’s reporting period the Board
is to give to the Member all the information that the Board reasonably
believes a Member would reasonably need for the purpose of understanding the
management, financial condition and investment performance of the Fund.
(2) The information
given under subregulation (1) is to include —
(a)
details about the Board including —
(i)
the Board’s contact details; and
(ii)
the names of the directors of the Board during the
reporting period and details of how and by whom they were appointed or
elected; and
(iii)
a statement as to whether or not any indemnity insurance
has been taken out by the Board;
and
(b)
investment details including —
(i)
a description of the investment strategy of the Board;
and
(ii)
the names of investment managers appointed by the Board;
and
(iii)
a statement of the assets of the Fund as at the end
of —
(I) the reporting period; and
(II) the immediately
preceding reporting period,
that includes all
information that the Board reasonably believes a Member would reasonably need
to understand the asset allocation of the Fund at those times; and
(iv)
details of —
(I) each investment the value of which
exceeds 5% of the total value of the assets of the Fund; and
(II) each combination
of investments that the Board knows or ought reasonably to know are invested,
directly or indirectly, in a single enterprise or a single group of associated
enterprises, the combined value of which exceeds 5% of the total value of the
assets of the Fund;
and
(c)
details of the Fund’s accounts being either —
(i)
the audited Fund accounts and the auditor’s report;
or
(ii)
both —
(I) abridged financial information about
the Fund for the reporting period; and
(II) a statement as to
when the audited Fund accounts and the auditor’s report will be sent, or
made available, to Members;
and
(d) in
relation to an accumulation scheme, a statement of —
(i)
the earning rates determined for each of the
readymade investment plans established for Members of the scheme, for the
5 years ending at the end of the reporting period; and
(ii)
the fees and charges that are attributed to Members of
the scheme;
and
(e) a
summary of —
(i)
the arrangements that the Board has to deal with
inquiries or complaints; and
(ii)
the functions of the Superannuation Complaints Tribunal;
and
(f) a
statement setting out the kind of information that is available on request.
(3) In this
regulation —
"abridged financial information" in relation to a
reporting period means information derived from the Fund’s accounts or
records that gives a reasonable summary of either —
(a)
both —
(i)
changes in the financial position of the Fund during the
reporting period; and
(ii)
the financial position of the Fund at the end of the
reporting period;
or
(b)
both —
(i)
changes in the nett assets of the Fund during the
reporting period; and
(ii)
the nett assets of the Fund at the end of the reporting
period.
[Regulation 224 inserted in Gazette 29 Jun 2001
p. 3095-8; amended in Gazette 13 Apr 2007 p. 1605.]