On Thursday, 9 July 2009, ASIC issued Class Order Relief
permitting superannuation fund trustees and financial advisers to
give more information and advice (intra fund advice) to members
about their existing interests in their superannuation funds. This
was achieved by granting superannuation fund trustees relief from
the requirements of section 945A of the Corporations Act
2001 when giving personal advice to members on intra fund
We attach links to the following documents related to this
ASIC Regulatory Guide 200 – Advice to super fund
members, click here.
ASIC Class Order [CO 09/210] – Intra-fund
superannuation advice, click here.
ASIC Class Order [CO 09/210] - Explanatory Statement, click here.
The aim of the Class Order Relief is to increase access to intra
fund advice to enhance member engagement with their superannuation
fund, without the necessity for members to seek separate fee-paying
advice for this type of information from a financial planner. The
new rules permit superannuation fund trustees to provide personal
(intra fund) advice to members about their existing interest in a
superannuation fund such as choosing an investment option the fund
offers, increasing voluntary contributions, buying life insurance
within the fund, and accessing super early if the member
experiences financial hardship.
The Class Order Relief does not cover advice about super that
goes beyond the above matters, such as switching super funds,
consolidating money held in several funds into one fund, more
complex retirement planning issues, insurance a member holds
outside their super fund, and allocating money between super and
their financial products.
There are conditions which must be met in order for the Class
Order relief to apply, including telling the member that advice
being given is limited to the member's interest in the super
fund (and confirming this in writing), and providing written
information about the cost implications of acting on the
We will be happy to assist you if you have any queries in
relation to the Class Order Relief.
DLA Phillips Fox is one of the largest legal firms in
Australasia and a member of DLA Piper Group, an alliance of
independent legal practices. It is a separate and distinct legal
entity. For more information visit
This publication is intended as a first point of reference and
should not be relied on as a substitute for professional advice.
Specialist legal advice should always be sought in relation to any
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