The Government has registered regulations relating to requirements for registrable superannuation entity licensees to disclose expenditures with the Annual Member’s Meeting notice.

UPDATE: Senator David Pocock has issued a notice that he intends to move that the Superannuation Industry (Supervision) Amendment (Annual Members’ Meetings Notices) Regulations 2022 registered on 2 September 2022 be disallowed.

UPDATE: On 25 October 2022, the Senate rejected the motion brought by Senator David Pocock to disallow the Superannuation Industry (Supervision) Amendment (Annual Members’ Meetings Notices) Regulations 2022.

The regulations require super funds to itemise all expenditures on political donations.

Non-political donations will be required to be detailed in aggregate.

The updated regulations permit RSE licensees to include contextual information in a short-form summary to explain aggregated expenditure disclosure for members, but is not intended to permit promotional material or information that will detract from the aggregated expenditure information which is the primary focus of the short-form summary.

The Regulations apply in relation to a notice of an annual members’ meeting for a year of income for a registrable superannuation entity if the notice is given on or after 9 September 2022 and the year of income ends on or after 30 June 2022.

If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.

Author: David Jacobson
Principal, Bright Corporate Law
Email:
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.