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Thursday, 29 May 2003
Page: 15553


Ms Burke asked the Minister representing the Minister for Revenue and Assistant Treasurer, upon notice, on 5 December 2002:

(1) Does the Australian Prudential Regulatory Authority (APRA) investigate, on behalf of consumers, complaints against superannuation funds.

(2) How many investigations following complaints were undertaken by APRA in (a) 1997-98, (b) 1998-99, (c) 1999-2000, (d) 2000-2001 and (e) 2001-2002.

(3) Are investigations into complaints required to comply with a code of practice or standard procedures; if so, are these procedures and processes available to the general public upon making a complaint to APRA.

(4) Is it a requirement that complainants are advised of the outcome of investigations; if not, why not.


Mr Costello (Treasurer) —The Minister for Revenue and Assistant Treasurer has provided the following answer to the honourable member's question:

(1) The Australian Prudential Regulation Authority is not responsible for the resolution of individual consumer complaints against superannuation funds.

(2) (3) and (4) See answer to (1).