Nick Sherry (Tasmania, Australian Labor Party, Minister Assisting the Minister for Tourism) Share this | Hansard source

The Minister for Financial Services and Superannuation has provided the following answer to the honourable senator's question:

Questions (1) and (2).

*Original application did not provide sufficient information and was not pursued further by the applicant.

Question (3).

One grant of financial assistance has been made in 2010-11. The details requested are provided below.

  (a) The actual amount of the eligible loss claimed was $54,994,079.

  (b) The Minister for Financial Services and Superannuation made a determination on 13 April 2011 under Part 23 of the Superannuation Industry (Supervision) Act 1993 to grant an amount of financial assistance of $54,994,079.

  (c) The financial assistance was granted to ACT Super Management Pty Limited (as acting trustee of the Astarra Superannuation Plan, the Astarra Personal Pension Plan, the My Retirement Plan and the Employers Federation of NSW Superannuation Plan).

  (d) Investigations by the regulators into Trio Capital Limited and the events leading up to the losses incurred by the superannuation funds are continuing.