Treasury Laws Amendment (2022 Measures No. 4) Act 2023 (29 of 2023)

Schedule 6   Financial reporting and auditing requirements for superannuation entities

Part 1   Amendment of the Corporations Act 2001

Corporations Act 2001

174   At the end of Chapter 2M

Add:

Part 2M.8 - Additional provisions relating to registrable superannuation entities

345AAA Obligations of registrable superannuation entities

An obligation imposed on a registrable superannuation entity by a provision of this Chapter is to be discharged by the RSE licensee for the entity.

345AAB Notices etc. given to RSE licensees

For the purposes of this Chapter, if a notice, direction or other document is given to the RSE licensee for a registrable superannuation entity, the notice, direction or other document is taken to be given to the entity.

345AAC Directors of registrable superannuation entities

(1) For the purposes of this Chapter, director of a registrable superannuation entity means:

(a) if the RSE licensee for the entity is a constitutional corporation or a body corporate - a director of the constitutional corporation or body corporate; or

(b) if the RSE licensee for the entity is a group of individual trustees - each of those trustees.

(2) For the purposes of this section, constitutional corporation has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

345AAD Officers of registrable superannuation entities

(1) For the purposes of this Chapter, officer of a registrable superannuation entity means:

(a) if the RSE licensee for the entity is a constitutional corporation or a body corporate - an officer of the constitutional corporation or body corporate; or

(b) if the RSE licensee for the entity is a group of individual trustees:

(i) each of those trustees; or

(ii) a person who makes, or participates in making, decisions that affect the whole, or a substantial part, of the business of the entity; or

(iii) a person who has the capacity to affect significantly the entity's financial standing.

(2) For the purposes of this section, constitutional corporation has the same meaning as in the Superannuation Industry (Supervision) Act 1993.