Released 11 November 2004. Comment closed 22 December 2004.

This policy proposal paper explains what class order relief we are considering for trustees of superannuation entities when members of the superannuation entity have access to investment choice (by selecting an investment strategy). These arrangements may include products commonly known as superannuation master trusts. The relief we are proposing is fundamentally about delivery mechanisms for product disclosure information.

Our aims in developing the proposals on the delivery of product disclsoure to retail clients are to:

• reduce the duplication of information to be disclosed;
• give flexibility about how information may be provided;
• ensure that the standard of information is not reduced;
• ensure that information is provided in a way that is comprehensible; and
• be consistent with the requirements dealing with member investment choice under the Superannuation Industry (Supervision) Act 1993 (SIS Act) and regulations, which we are unable to change.

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