The DDF is a fund vested in the ‘Roman Catholic Trust Corporation for the Diocese of Rockhampton’, a body incorporated under the provisions of the Religious Educational and Charitable Institutions Act 1861 (Qld). The Bishop exercises the control and management of the Fund with the assistance of the DDF Committee and the Financial Administrator.
The DDF Committee meets on a regular basis, usually monthly. It is advisory in nature and operates within the broader canonical governance structure of the Catholic Diocese of Rockhampton.
The DDF Committee ensures that the activities of the Fund comply with all relevant laws, regulations and statutes and that those activities maintain the highest standards of ethical and commercial practice. It is guided by those laws, regulations and statutes, either State or Federal, which would apply to a financial organisation offering services similar to those offered by the Fund, notwithstanding that those laws or statutes may not apply to the Fund due to its special status.
The responsibilities of the Committee include setting and monitoring strategies; monitoring risks of the Fund; approval and recommendation of new loans; review and monitoring of compliance with policies and the review of the annual performance of the DDF.
The Committee comprises persons with various expertise and experience in the following areas:
- Accounting, banking and/or financial markets;
- Civil and canon law;
- Business and commerce; and
- Education, health and aged care.
- Thynne & Macartney
- Westpac Banking Corporation
Your investment with the Diocesan Development Fund Rockhampton ABN 50 979 741 889 (Fund/we/us) will be used to generate a return to the Fund that will be applied to further the charitable works of the Catholic Diocese of Rockhampton. Accordingly, we are required by law to tell you that your investment with us is not comparable to those with banks, finance companies or fund managers. We have been granted certain exemptions by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC). Under these exemptions, we are required by law to tell you:
- The Fund is not prudentially supervised by APRA. Therefore, an investor in the Fund will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959. Investments in the Fund are intended to be a means for investors to support the charitable purposes of the Fund.
- Investments that the Fund offers are not subject to the usual protections for investors under the Corporations Act 2001 or regulation by ASIC.
- Investment in the Fund is only intended to attract investors whose primary purpose for making their investment is to support the charitable purposes of the Fund.
- We have an identification statement which contains information about us which may be viewed below.
- The Fund does not operate under an Australian Financial Services Licence.
The Fund is required by law to tell you that you may be unable to get your money back. However, CDPF Limited, a company established by the Australian Catholic Bishops Conference, has indemnified the Fund against any liability arising out of a claim by investors in the Fund. In practice, this means your investment is backed by the assets of the Catholic Diocese of Rockhampton.