Distribution of Members – Elders Pastoral

The Annual Report to Members confirmed that 1722 members were transferred to another fund following the demerger of Goldsbrough Mort & Co Limited (renamed as Elders Limited).

Some $116,265,174 was transfer from the Trust Estate of the pension fund that had been established on the 23 December 1913. However for such a transfer to occur without the Breach of Trust being committed would require an Act of the Parliament of South Australia. There was no such enactment.

Regulation 50 prevented any trustee from applying the assets of the fund to any unauthorised purpose.

Cohen

Many of the 1722 members would have been resident in South Australia.


facebooktwittergoogle_plusredditpinterestlinkedinmailby feather

This tab updated on 24 July 2015