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Showing 71 - 80 of 219 results for "Constitution"

ASIC outlines enforcement efforts

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
... found in the regulator's favour. Hughes explained: "Directors breached their duties by authorising amendment to the constitution of Prime Retirement and Aged Care trust which enabled $33 million to be paid out of fund assets without member approval." ...

Corporate superannuation fund hunts new chair

KARREN VERGARA  |  TUESDAY, 9 APR 2019
... final three-year term. David Leggo departs TelstraSuper on 30 June 2019; he joined the board in 2010. The fund's constitution states directors can serve a total of three terms of three years. He is the former long-serving chair of AvSuper, having ...

Grandfathered commissions ban unconstitutional: Association

JAMIE WILLIAMSON  |  MONDAY, 4 MAR 2019
A financial advice industry association is looking to take the Government to the High Court over the planned ban on grandfathered commissions, arguing the changes may not be constitutionally valid. The Association of Independently Owned Financial Professionals ...

APRA could oversee stalled super fund mergers

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... interfere despite the best efforts of the trustee (such as by refusing some consent required under the trustee's constitution)," the report said. "It is to be hoped that such extreme situations will be rare. Should such a situation occur, it would be ...

Grandfathered commissions to be banned

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
Grandfathered commissions will be banned from 1 January 2021. Responding to the release of the Royal Commission's final report, Treasurer Josh Frydenberg has confirmed the payment of grandfathered commissions will be outlawed. Further, from 1 January ...

Primary digs heels on Aurora fund

KANIKA SOOD  |  FRIDAY, 18 JAN 2019
... documents relating to the fund. At the Tuesday vote, unitholders passed a third resolution to allow a change of the constitution. "This was to enable us [Primary] to receive fee for special work relating to claims that might be made," Smith said. He ...

Investors rage coup against Aurora

KANIKA SOOD  |  THURSDAY, 17 JAN 2019
... replace Aurora Funds Management as the responsible entity and to appoint Prime Securities in the role, also passing a constitution change. However, Aurora says the meeting did not give unitholders the 21 days' time set as the minimum by Corporations ...

Global asset managers sign responsible firearms framework

DARREN SNYDER  |  THURSDAY, 15 NOV 2018
State Street Global Advisors and Nuveen are among the first signatories of a document designed to improve engagement with companies that manufacture, distribute, sell or regulate products within the civilian firearms industry. Thirteen institutional ...

Assistant Treasurer refutes breach allegations

HARRISON WORLEY  |  FRIDAY, 26 OCT 2018
... resignation within 28 days. "Can I ask whether under the Corporations Act, Mr. Robert met his requirements under a company constitution or replaceable rules in resigning as a director, or if there was a breach in him announcing his resignation and delaying ...

DomaCom concludes Federal Court action

KARREN VERGARA  |  TUESDAY, 25 SEP 2018
... is material. Naoumidis said: "DomaCom will now focus on addressing the related trust matter and is reviewing our constitution and disclosure documents to address this issue with respect to future sub-funds." The ASX-listed firm began supporting a Federal ...