Superannuation Industry (Supervision) Act 1993

PART 6 - PROVISIONS RELATING TO GOVERNING RULES OF SUPERANNUATION ENTITIES  

SECTION 55B  

55B   GOVERNING RULES DO NOT PREVENT GIVING EFFECT TO CERTAIN ELECTIONS  

A provision in the governing rules of a regulated superannuation fund is void to the extent that it would prevent a trustee or trustees of the fund from giving effect to:

(a) an election made in accordance with section 29SAA (election to transfer accrued default amounts to a MySuper product); or

(b) an election made in accordance with section 29SAB (election to transfer assets attributed to a MySuper product if authorisation cancelled); or

(c) a requirement in regulations made for the purposes of subsection 29SAA(3) ; or

(d) an election made in accordance with section 29SAC (election not to pass costs of paying conflicted remuneration onto MySuper members); or

(e) an election made in accordance with section 242B (election to transfer amounts held in an eligible rollover fund if authorisation cancelled); or

(f) an election made in accordance with section 242C (election not to pass costs of paying conflicted remuneration to members of eligible rollover fund).