Superannuation Industry (Supervision) Act 1993
View history note
Hide history noteThe object of this Part is to set out provisions relating to the granting of RSE licences to:
(a) constitutional corporations; and
(b) other bodies corporate; and
(c) groups of individual trustees. 29A(2) [Simplified outline]
The following is a simplified outline showing some key relationships between this Part and other provisions of the Act and the regulations that trustees should be aware of:
Certain provisions may be contravened if unlicensed trustees carry out particular activities (e.g.: sections 29J and 152 ). The trustee, or group of individual trustees, of a fund or trust may obtain an RSE licence under this Part.
Note 1:
If the trustee is a constitutional corporation, the trustee obtaining an RSE licence may result in a fund or trust becoming an approved deposit fund or pooled superannuation trust, which are each registrable superannuation entities.
Note 2:
If the trustee or group of individual trustees makes an election under section 19 , the fund may become a regulated superannuation fund. Regulated superannuation funds other than self managed superannuation funds are registrable superannuation entities.
A trustee, or group of individual trustees, that has obtained an RSE licence may have a registrable superannuation entity registered under Part 2B . Certain provisions may be contravened if certain activities are carried out while a registrable superannuation entity is not registered (e.g.: accepting contributions while the entity is unregistered may lead to an offence under section 34 .)
Note:
A failure to register the fund or trust may also lead to a breach of an RSE licence condition and possible loss of the RSE licence.
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