Investing with LLL
Investments in the Lutheran Laypeople's League (LLL) are designed for investors who wish to support the charitable purposes of the LLL and for whom the consideration of profit is not of primary relevance. The LLL is not prudentially supervised by the Australian Prudential Regulation Authority. Therefore, an investor in the Fund will not receive the benefit of the financial claims scheme or the depositor protection provisions of the Banking Act 1959. Investments in the Fund are intended to be a means for investors to support the charitable purposes of the Fund.
The LLL operates a charitable investment scheme. The scheme is not subject to the normal disclosure or trust deed provisions of the Corporations Act 2001. Accordingly, the scheme has not been examined or approved by ASIC.
Refer to the LLL ASIC Identification Statement for further information.
Australian Financial Services Licence
The LLL holds an Australian Financial Services Licence (AFSL) No. 329339 issued by ASIC, which authorises the LLL regarding its non-cash payment facility. This facility is the LLL@Home Internet Access Service (LLL@Home) offered through the LLL website at www.lll.org.au. You should obtain and read the Product Disclosure Statement (PDS), available at www.lll.org.au or by calling 1800 556 457, and consider it before making any decision about whether to use LLL@Home.
Financial Product Advice
LLL’s documents and website contain factual information only and do not constitute financial product advice or imply any recommendation or opinion. The LLL is not licensed to provide product advice for LLL@Home Internet Access and is only authorised to provide general advice in offer documents for LLL savings accounts. You should consider whether the intended relationship with the LLL fits your objectives, financial situation and needs. You should seek independent advice before making any financial decisions.
LLL interest rates are subject to change without notice. Refer to our website or contact us for our current interest rate.
Links to Other Websites
The contents of other websites that you access from links in this website are the responsibility of the respected website owners. Links are provided for your convenience only and do not constitute any endorsement of the website or website owners.
Notice to Website Users
The products and services described in this site are only available to Australian residents. The information on this site has been prepared in accordance with Australian law. The laws applicable in the State of South Australia and the Commonwealth of Australia govern this notice and the information in this site and all matters relating to them. The information in this site may not satisfy the laws of any other country and accordingly should not be relied upon by non-Australian residents.
Tax File Numbers/Exemptions
Although it is not compulsory to supply your TFN or Exemption details, if you choose not to, under Government regulations the LLL is obliged to deduct withholding tax from interest earned on this account at the highest marginal rate of tax, plus Medicare levy. Pensioners may either quote their TFN or list their Pension type.
Anti Money Laundering and Counter Terrorism Financing (AML/CTF) Act 2006
By signing this application form you are providing your express consent to collect personal information from you as required by the AML/CTF Act and that LLL may take steps to verify the personal information it has collected. You consent to the collection, use, handling, disclosure and verification of information, including the use of on-line verification, as required by law. Where LLL utilises on-line verification, it will only use the assessment provided by the Reporting Body for the purpose of verifying your identity in accordance with the AML/CTF Act.
Politically Exposed Person
Under the AML/CTF Act we must have procedures to identify whether any individual customer or beneficial owner is a Politically Exposed Person (PEP). A PEP is an individual, family member or close associate of an individual who holds a prominent public position either domestically or internationally in a government body or international organisation. Examples include politicians, senior government or political party officials, judicial officers, senior military officers, or directors or senior executives from the public service or international organisations.
The LLL relies upon and contracts with third parties to deliver a number of its services and advises that those parties hold relevant licences and registrations as required under legislation and relevant statutory authorities within Australia.
The information provided is current at the date of publication but may be subject to change.