The items in question all relate to IOOF setting up an entirely new business function "The Office of the Superannuation Trustee".
Let's suppose the function and organisational structure of this new department could be defined overnight - although more likely a few weeks, given the need to gain the blessing of the Independent Reviewer (and perhaps APRA themselves) for the proposed structure. Even then, the process of finding, screening, interviewing and then employing the right people would take more than a couple of months.
So although we can't second-guess APRA, an extension on this seems fair as long as IOOF demonstrate that they are moving on it with reasonabke haste. The announcement notes that they are trying to set up the OST in a "considered" manner, which from APRA's perspective must surely be better than panic hires or rushing in some contractors for the sake of ticking off the March deadline.
For example, the below job advert gives a sense of what they are looking for. This sort of person doesn't grow on trees (and frankly, if this is an IOOF ad, I would be more than a bit worried about the revised June target).
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