Update to Significant Event Notice
20 November 2009

This Notice outlines some important changes to the Bookmakers Superannuation Fund (ABN: 22 973 371 189, Registration Number: R1067781). These changes may impact on your ability to deal with your investment in the Fund as outlined in this notice..

In early to mid December 2009, the Trustee will write to you with a further update.

Background

The lodgement of the Fund’s Financial Statements for the 2008/09 financial year and 2008/09 Australian Prudential Regulation Authority (APRA) return have been delayed pending receipt of additional valuation information requested by the Fund’s new auditors, in relation to mortgage and property assets held in the Fund's Balanced Investment Strategies.

In these circumstances the Trustee believes that in order to balance the interests of all members of the Fund a number of practical measures should be put in place..

Members will note that once the Financial Statements and APRA return have been completed and lodged with the regulator the position will be reviewed.

1. Amending Regular Pension Payment or Lump Sum Requests from the Balanced Pension Investment Strategy

The Trustee has decided to defer the processing of applications to amend the amount of monthly pension payments for pension members invested in the Balanced Investment Strategy, including those members who meet a condition of release. The Trustee has also decided, effectively immediately, to defer the processing of commutations (lump sum payments) for pension members invested in the Balanced Investment Strategy, including those members who meet a condition of release. The position is to be reviewed as soon as practical following the completion and lodgement of the Financial Statements and APRA return.

The current arrangements for regular pension payments to members invested in the Balanced Investment Strategy remain unchanged.

2. Redemption from Balanced Accumulation Investment Strategy

On 24 August 2009, the Trustee issued a Significant Event Notice to members deferring the processing of redemption requests (unless members meet a condition of release) from the Balanced Accumulation Investment Strategy pending receipt of APRA’s decision on the Trustees application for relief. APRA has confirmed that this application is still pending. The Trustee is now extending the deferral to include those members who meet a condition of release, effectively immediately.

The position is to be reviewed as soon as practical following the completion and lodgement of the Financial Statements and APRA return.

3. Switches from Balanced Strategy to Conservative Strategy

On 31 July 2009, the Trustee issued a Significant Event Notice to members deferring the processing of investment switches from the Balanced Strategy, to the Conservative Strategy for both Accumulation and Pension members for a rolling ninety (90) day period from the date investment switches are normally processed.

The Trustee is now extending the deferral of processing these investment switch requests by a further two (2) months.
The position is to be reviewed as soon as practical following the completion and lodgement of the Financial Statements and APRA return.

4. Switches from Conservative Strategy to Balanced Strategy

The Trustee has decided to defer the processing of investment switch requests from the Conservative Strategy to the Balanced Strategy for a period of two (2) months from the date they are normally processed. This applies to investment switch requests received after 5 pm on 20 November, 2009.

The position is to be reviewed as soon as practical following the completion and lodgement of the Financial Statements and APRA return.

5. Allocation of Future Contributions

The Trustee has decided that in light of the delay in completion and lodgement of the Financial Statements and APRA return, that all future contributions to the Fund will be allocated to the Conservative Investment Strategies.

The position is to be reviewed as soon as practical following the completion and lodgement of the Financial Statements and APRA return.

We will update members again in early to mid December 2009 by which time we expect the Financial Statements and APRA return will be finalised and lodged. It is important to note that members invested in the Conservative Investment Strategies are not affected by these changes, apart from the restrictions on investment switches outlined above.

Further Information

Should you have any questions regarding this notice please contact the Fund’s administrator on 1300 880 736.

Issued by Equity Trustees Limited ABN 46 004 031 298 as trustee of the Bookmakers Superannuation Fund