Superannuation Complaints Tribunal — Appointment of Acting Tribunal Chairperson

Overview

The Superannuation (Resolution of Complaints) Act 1993, enacted to provide a framework for resolving complaints related to superannuation, has been supplemented by F2020N00160, a notifiable instrument issued by Jane Hume, Assistant Minister for Superannuation, Financial Services and Financial Technology. This instrument, dated 15 December 2020, appoints Robert Jeremenko as the Acting Tribunal Chairperson of the Superannuation Complaints Tribunal for a three-month period starting 1 January 2021. This appointment was made under subsection 54(1) of the Act, and the terms of this engagement have been determined under subparagraph 33A(1)(b)(i) of the Acts Interpretation Act 1901. Notably, the role will be performed on a part-time basis, and the appointment does not entail any remuneration. This move aims to ensure the ongoing effective operation of the Superannuation Complaints Tribunal amidst a temporary leadership transition.

Scope and Application

The Superannuation (Resolution of Complaints) Act 1993 provides the legislative framework for the establishment and operation of the Superannuation Complaints Tribunal, which is tasked with resolving complaints related to superannuation and related financial services. The act applies to any person or entity that is aggrieved by an action or decision of a superannuation fund or related financial service provider. This includes individuals, trustees of superannuation funds, financial service providers, and any other entities involved in superannuation arrangements within Australia. The act's jurisdiction is national, as it is a Commonwealth Act, thereby extending its reach across all states and territories within Australia. However, it is specifically tailored to address complaints that fall under the purview of the Superannuation Industry (Supervision) Act 1993 and related regulations. Notably, the act does not provide for exclusions or exemptions, but rather sets out a formal process for the resolution of complaints through the Tribunal. The act's application may be further detailed or refined through subordinate instruments, such as regulations or guidelines issued under the authority of the act.

Key Provisions

The main operative sections of this legislation pertain to the appointment of Robert Jeremenko as the Acting Tribunal Chairperson of the Superannuation Complaints Tribunal. Section 1 specifies that Jane Hume, the Assistant Minister for Superannuation, Financial Services and Financial Technology, appoints Robert Jeremenko to the position for a three-month period commencing on 1 January 2021. This appointment is pursuant to subsection 54(1) of the Superannuation (Resolution of Complaints) Act 1993 (section 1). Under subparagraph 33A(1)(b)(i) of the Acts Interpretation Act 1901, the terms and conditions of this appointment are determined (section 2). Specifically, the appointment is on a part-time basis and no remuneration is payable (section 2(a) and (b)). The obligations and requirements imposed by this Act are relatively straightforward. The Superannuation Complaints Tribunal must recognise Robert Jeremenko as the Acting Tribunal Chairperson for the specified period, and he must perform his duties in accordance with the Superannuation (Resolution of Complaints) Act 1993 and any other applicable laws. Given that this is a part-time appointment, Robert Jeremenko must also ensure that he balances this role with any other professional commitments he may have. Additionally, since no remuneration is payable for this appointment, Robert Jeremenko may not claim any salary or other compensation for his service as Acting Tribunal Chairperson. There are no specific offences, penalties, or consequences for breach detailed in this notifiable instrument. However, any failure to comply with the terms and conditions of the appointment, or any misconduct while acting as the Tribunal Chairperson, could potentially lead to civil or criminal liability under other sections of the Superannuation (Resolution of Complaints) Act 1993 or other relevant legislation. For example, if Robert Jeremenko were to breach the duties of his role, he could face disciplinary action, including possible removal from office. Similarly, if the Tribunal were to fail in its obligations under the Act, it could face legal action from affected parties. The maximum penalties for such breaches would depend on the specifics of the case and the relevant laws.