“Missing Deed of Variation”

The “Jarrett Deed” does not recite any Power of Amendment, however it is executed in accordance with purported “Rule 1.13.1″ that appears in the set of purported “Rules” attached to the Deed dated 26 August 1986.

Purported “Rule 1.13.1″ is not just a renamed version of purported “Rule 1.9.1″ that is recited in the “Elliott Resolution” dated 20 December 1982. The provisions of purported “Rule 1.13.1″ are materially different.

In purported “Rule 1.9.1″ the Power of Amendment has been provided to the “Trustees” {plural}, subject to the consent of the Directors {plural} of the sponsoring Employer and not to the separate legal persons – “the company” or “Principal Employer”.

However in purported “Rule 1.13.1 the Power of Amendment has been provided to the “Trustee” {singular}, subject to the consent of the legal person, the “Principal Employer” and not the natural person Directors of the company.

Now as a first step there must be a Deed of Variation {or other amending instrument} that would repeal either of:

  • Regulation 50;, or
  • Purported Rule 1.9.1

  • A subsidiary company of the National Australia Bank is now the de facto trustee of this fund and has been unable to produce a copy of any such amending instrument, nor a copy of any actuarial certificate that might have been attached to such an amending instrument.

    The Fund Secretary has been unable to produce such as document as was requested here.

    An outline of what such an amending instrument would look like, assuming purported “Rule 1.9.1″ had replaced Regulation 50, is shown as follows.

    Missing Deeds of Variation #3

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    This tab updated on 15 March 2015