26
Arkus PDS
of assets held in the Fund, with a minimum of $25,000 per annum, plus transaction costs. Compliance Plan The Compliance Plan sets out the key systems, processes and measures GPS will apply to ensure compliance with its AFSL and the requirements of: • The Act and the Corporations Regulations 2001 (Cth) (“ the Regulations ”); • The Fund’s Constitution; • Industry standards relevant to the Fund (including ASIC requirements); • Internal organisational standards and culture; and • Any disclosure documents. The Compliance Plan is a “how to” document, providing detail on: • The obligations which must be met by GPS; • What measures or procedures are in place to comply with these obligations; • How compliance with those measures and procedures will be monitored; and • How those measures are updated. The Compliance Plan also details the risks of Compliance Systems The Fund operates under a Compliance Plan which is monitored by a Compliance Committee. The majority of the members of the Compliance Committee are external to GPS. Disclosure of related party interests parties may hold Units in the Fund from time to time. Where this occurs the investments made by those parties will always be on the same terms for any other Investor in the Fund. The above related parties are not eligible for a loan from the Fund. Application and line fees payable by borrowers for loans issued by the Fund may be paid to GPSDF, a related party. Liability The liability of Investors is generally limited to the value of their Units. Investors are not
not complying with these obligations, and how breaches are to be reported and addressed. The description of measures in place allows they are responsible for monitoring and how often they have to report on compliance or otherwise with those measures. The Compliance Plan is integrated into the operations of the Fund and is mandatory. The Compliance Plan is audited annually by the Fund’s independent Compliance Plan Auditor. Services Agreement This agreement between GPS and GPSDF provides GPS with the services to run the Fund. These services include but are not limited to the following: • access to appropriate premises; • • access to equipment and furniture; and • The fees payable under this agreement are paid by GPS from its management fees and from application and other fees paid by borrowers.
required to personally indemnify GPS if there is
or to meet from their own assets the claim of any creditor of GPS or the Fund. The recourse of both GPS and any creditors is limited to the assets of the Fund. However, due to the uncertainty of the law the ultimate liability of the Investors remains to be fully tested in the courts. Labour standards, environmental, social and ethical considerations While GPS as Responsible Entity of the Fund does not explicitly take into account labour standards, environmental, social or ethical considerations when making investment decisions on behalf methodology for the extent to which these factors are considered, we may take them into account as one of the components considered in deciding whether to provide a loan to a borrower.
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