Conflicts Management Policy

Summary of the Conflicts Management Policy

Media Super’s Conflicts Management Policy (Policy) has been prepared to meet the requirements of APRA Prudential Standard SPS 521 Conflicts of Interest, to meet the conflicts management requirements related to holding an Australian Financial Services Licence (AFSL) and in order to meet standards of fitness and propriety under Media Super Limited’s RSE licence.

The Policy, approved by the Board, requires the Trustee to identify all potential and actual conflicts in its business operations and take reasonably practicable actions to ensure that they are avoided or prudently managed.

This Policy sets out how each Director must bring an enquiring, open and independent mind to Board meetings, listen to the debate on each issue raised, consider the arguments for and against each motion and reach a decision that he or she believes to be in the best interests of Media Super as a whole, free of any actual or possible conflict of interest and consistent with the Board’s Code of Conduct.

The Policy also states how all other responsible persons and employees must act with an open and independent mind when fulfilling the role for which they have been employed by Media Super to complete, free of any actual or possible conflict of interest and consistent with the Policy.

The Policy details how Media Super’s relevant persons must not, without the express approval of the Board, be interested, either directly or indirectly, in a transaction or in any other situation, arrangement or transaction which gives rise to an actual conflict of interest or a perceived conflict of interest.

Directors must not allow a conflict of interest to compromise their position or place themselves in a position where there is an actual or substantial possibility of conflict between a personal interest or a duty owed elsewhere and the director’s duties to Media Super Limited, the fund and its beneficiaries.

Outsourced representatives including approved auditors and actuaries and the insurer providing insured benefits to beneficiaries of the fund must deal with conflicts of interest in accordance with the Media Super Outsourcing Policy.

If breaches of this Policy occur the Deputy CEO is required to record the breach and the action taken in accordance with the procedures set out in the Media Super Operations Manual.