Timeline of Events

A detailed timeline of events can be found on the following link:

Detailed Chronology of Events

A summarised version is as follows:

[1888] the original sponsoring Employer – Elder, Smith & Co Limited – incorporated in South Australia. More details can be found here.

[1913] the original Trust Deed executed establishing an occupational pension fund for certain “male officers” of the sponsoring Employer.The fund, called the Provident and Guarantee Fund, was a contributing fund requiring members contributions of 2.5% of salary.More details can be found here.

[1931] the first Deed of Variation amending the terms of original Trust Deed executed.More details can be found here.

[1948] a separate trust was established to provide retirement benefits to female staff was established. The fund, called the Women’s Provident Fund, was a non-contributing fund.

[1949] the name of the fund established on the 23 December 1913 was shortened to The Provident Fund.

[1958] a consolidation Deed of Variation was executed that amended the pension formula to provide an improved benefit in the event of retrenchment. A survivorship pension for widows was also introduced.More details can be found here.

[1963] the terms of the occupational pension trust established on the 23 December 1913 were amended by an enactment of the Parliament of South Australia.

[1974] the terms of the trust were amended to provide a power to the members to remove and appoint two natural person Trustees and for the Pensioners to remove and appoint one natural person Trustee. More details can be found here.

[1982] a purported “Resolution” bearing the signature of John Dorman Elliott was used as justification for removing five natural person Trustees resident in South Australia and appointing a sole corporate Trustee resident in Victoria.The Provident Fund established in 1913 is renamed the Elders IXL Superannuation Fund.

[1986] the former National Companies and Securities Commission (NCSC) commences an investigation into the conduct of the senior executives of Elders IXL Limited after nearly 20% of the shares of BHP were acquired in a lighting share raid.

[1986] Ken Jarrett executes a purported Deed of Variation son after the NCSC commences investigation.

[1991] the body of publisher Robert Maxwell is found floating in the Atlantic Ocean and the theft of £454 million from the employees’ pension funds of the Mirror Newspaper Group is quickly discovered.

[1992] the Keating Government makes superannuation compulsory for all working Australians.

[1993] the “equal representation rule” is included in the Superannuation Industry (Supervision) Act 1993 in response to the Robert Maxwell pensions Scandal in the UK. Elections held for Member-elected Directors of the purported corporate Trustee of the


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