Document ID: chunk:federal_register_of_legislation:F2022N00203:body:0:p3
Version: federal_register_of_legislation:F2022N00203
Segment Type: other
Provision Reference: 
Character Range: 5810–8789

not have to comply with subsection 994B(9) of the Corporations Act in relation to the Vanguard Super Fund during the Deferral Period.

        (2) The exemption specified in subsection 7(1) applies where Vanguard Super complies with the conditions in section 10.

8 Corporations Act exemption - product dashboard information
(1) Vanguard Super does not have to comply with section 1017BA(1) of the Corporations Act in relation to the Vanguard Super Fund during the Deferral Period.

        (2) The exemption specified in subsection 8(1) applies where Vanguard Super complies with the conditions in section 10.

9 Corporations Act exemption - unclaimed monies information
(1) Vanguard Super does not have to comply with the condition set out in section 6(2) of ASIC Corporations (Unclaimed Superannuation – Former Temporary Residents) Instrument 2019/873 to make certain statements and information available on the website for the Vanguard Super Fund during the Deferral Period.

        (2) The exemption specified in subsection 9(1) applies where Vanguard Super complies with the conditions in section 10.

10 Conditions

    Maximum number of participants in Initial Cohort

        (1) During the Deferral Period Vanguard Super must not offer membership of the Vanguard Super Fund to anyone other than a person in the Initial Cohort.

        (2) The Initial Cohort must not consist of more than:

           (a)  50 employees of Vanguard Super or its related bodies corporate operating within Australia; and

           (b) three additional natural persons, each of whom are a Relative of a person referred to in paragraph (a).

    Requirement to provide copies of complaint management documentation
       (3) Vanguard Super must provide each person in the Initial Cohort with a copy of the complaint management documentation for the Vanguard Super Fund mentioned in section 6(1) before that person becomes a member of the Vanguard Super Fund, and if those documents are updated during the Deferral Period, Vanguard Super must provide persons in the Initial Cohort with the updated documents within 5 business days of the update taking effect.
    Details, documents and information to be made available to members of the Initial Cohort directly
       (4) Before Vanguard Super accepts an application to become a member of the Vanguard Super Fund from a person in the Initial Cohort each person in the Initial Cohort must be provided with the details, documents and information required to be publicly available on the Vanguard Super Fund website (including the details, documents and information referred to in subsection 5(1)) during the Deferral Period in hard copy format or by electronic means (at the election of the member of the Initial Cohort).
       (5) If updates to the details, documents and information made available to the Initial Cohort under to subsection (4) are required during the Deferral Period, Vanguard Super must ensure that members