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Notice given 23 April 2012

1823  Senator Bushby: To ask the Minister representing the Treasurer—With reference to the Australian Prudential Regulation Authority (APRA):

(1) Under the risk rating scheme for superannuation funds, the Probability and Impact Rating System (PAIRS), does a fund not operating daily unit pricing and valuation for all assets automatically attract a lower rating factor; if so, why; if not, why not.

(2) Does APRA have procedures requiring superannuation funds to communicate changes in PAIRS ratings to other funds and members.

(3) Under APRA compliance and enforcement procedures, what are the requirements for superannuation funds to advise the regulator of any material changes in investment strategy.

(4) Does APRA require superannuation funds to report decisions to move funds offshore or from a daily listed and unit priced environment to an unlisted and offshore location.

(5) What requirements does APRA have for superannuation funds to communicate these material changes to members.

(6) Under APRA procedures, what are the requirements for funds to communicate to members any changes in governance and head entity ownership arrangements.