SYDNEY, March 13 -- Australian Prudential Regulation Authority issued the following media release:
The Australian Prudential Regulation Authority (APRA) has varied the additional licence conditions imposed on BUSS (Queensland) Pty Ltd as the trustee for The Building Unions Superannuation Scheme (Queensland) (BUSSQ). The conditions, imposed on 13 August 2024, require BUSSQ to appoint an independent third party to review BUSSQ's fit and proper processes and expenditure management practices.
The conditions have been varied to update the timeframes for BUSSQ's compliance, to provide additional detail to BUSSQ about the operation of the conditions and to enable the work contemplated in the conditions to be commenced by BUSSQ as soon as possibl...