Legislative History

The Fund was established in South Australia by a Deed made on 23 December 1913 between:

  • In the first part – Elder, Smith and Co Limited (the Settlor);
  • In the second Part – Three natural person trustees;
  • In the third Part – Certain Male Officers of the Company.
  • The Deed that established this ocupational pension trust is now as the original “Trust Deed” of the fund.

    The fund was originally known as The Provident and Guarantee Fund.

    The Trustees of the Fund must administer the Fund strictly in accordance with the terms of the trust which are known as “Regulations“.

    These “Regulations” may be amended from time to time in accordance with the terms of the trust, statutory legislation and the general law.

     

    In 1963 a Company named Elder Smith Goldsbrough Mort Limited was registered in South Australia to acquire both Elder Smith and Co Limited and Goldsbrough Mort and Co Limited.

    To allow the successor company to assume the legal obligation of Elder Smith and Co Limited a Bill was introduced into the Parliament of South Australia by the then Attorney-General, C. D. Rowe, to allow the terms of the 1913 declaration of trust to be amended accordingly.

    The Bill became the Elder Smith and Co Limited Provident Funds Act  (No 58 of 1963) and received assent on 5 December 1963.

    In 1982 the name of Elder Smith Goldsbrough Mort Limited was changed to Elders IXL Limited after the acquisition of Henry Jones IXL Limited.

    In 1990 the name was again changed to the Foster’s Brewing Group Limited and then in 2001 to Foster’s Group Limited. In 2011 Foster’s Group Limited was acquired by SABMiller plc.

    Another Bill came before the Parliament of South Australia in 1971 to allow surplus moneys held by the Elder’s Trustee & Executors Company Limited Provident Fund to be transferred to The Provident Fund.

    This Bill became the Elder’s Trustee & Executors Company Ltd Provident Funds Act (No 28 of 1971) and received assent on 22 April 1971.