The Australian Prudential Regulation Authority has finalised a class exemption from the change of ownership and control provisions of the Superannuation Industry (Supervision) Act 1993 for certain persons connected to RSE licensees. The exemption removes the requirement for management employees and company secretaries with a direct controlling interest of less than 2 per cent in an RSE licensee to apply to APRA before acquiring a controlling stake, reducing regulatory burden while maintaining APRA scrutiny. Following consultation, APRA made minor refinements to improve the exemption's clarity and operation without expanding its scope. It has also published the consultation outcome paper, the final legal instrument and non-confidential submissions on its website.
Australian Prudential Regulation Authority2026-05-22
Australian Prudential Regulation Authority finalises class exemption removing ownership approval for certain RSE licensee management employees and company secretaries with under 2 per cent direct controlling interests
The Australian Prudential Regulation Authority has finalised a class exemption from the change of ownership and control provisions of the Superannuation Industry (Supervision) Act 1993 for certain persons connected to registrable superannuation entity licensees. The exemption removes the requirement for management employees and company secretaries with a direct controlling interest of less than 2 per cent to seek prior approval before acquiring a stake, and APRA has made minor refinements to improve clarity and operation without expanding scope.