Appeared for trustee of Clerical Administrative and Retail Employees superannuation scheme, instructed by Mills Oakley.
Successful application for judicial advice as to exercise of remuneration power.
EQUITY – Judicial advice – Supreme Court (General Civil Procedure) Rules 2015 (Vic) r 54.02 – Trust Deed provided for trustee to be remunerated for the bona fide provision of services to the Fund on such basis as the trustee determines to be ‘fair and reasonable’ – Whether trustee justified in determining a fair and reasonable fee for services including by reference to a risk that penalties may be imposed under Commonwealth legislation for which the trustee cannot be indemnified under the Superannuation Industry (Supervision) Act 1993 (Cth) ss 56(2) and 57(2) – Whether the trustee satisfied the Court to a reasonable degree of satisfaction that the exercise or the proposed exercise of the power under the remuneration clause was not improper for the purpose of giving judicial advice – Whether the trustee satisfied the Court to a reasonable degree of satisfaction that the exercise or proposed exercise was consistent with the judicial advice sought – Advice provided.
Judgment:
Media coverage:
CareSuper could be insolvent under Section 56 amendment, says CEO Julie Lander (Australian Financial Review, 19 November 2021)