Proposed class exemption to own or control an RSE licensee
This page contains all relevant information on APRA's proposed class exemption for some registrable superannuation entity (RSE) licensee directors from the change of control and ownership provisions of the Superannuation Industry (Supervision) Act 1993 (SIS Act).
August 2023
On 15 August 2023, APRA released a response letter and final instrument to exempt a certain class of registrable superannuation entity (RSE) licensee directors from the change of control and ownership provisions of the Superannuation Industry (Supervision) Act 1993 (SIS Act).
The letter to industry, final instrument and non-confidential submissions can be found below:
Letter
Approval to own or control an RSE licensee: class exemption
Final instrument
Submissions
April 2023
On 19 April 2023, APRA released for consultation a letter and draft instrument to exempt some RSE licensee directors holding shares in the RSE licensee, from the change of control and ownership provisions of the Superannuation Industry (Supervision) Act 1993 (SIS Act).
Submissions on APRA's proposal should be sent by 17 May 2023.
The letter to industry and draft instrument can be found below:
Letter
Approval to own or control an RSE licensee: Proposed class exemption.
Draft instrument
Note on submissions
It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.
Submissions may be the subject of a request for access made under the Freedom of Information Act 1982 (FOIA). APRA will determine such requests, if any, in accordance with the provisions of the FOIA. Information in the submission about any APRA-regulated entity that is not in the public domain and that is identified as confidential will be protected by section 56 of the Australian Prudential Regulation Authority Act 1998 and will therefore be exempt from production under the FOIA.