Superannuation Industry (Supervision) Regulations 1994

PART 4 - MANAGEMENT AND TRUSTEESHIP OF SUPERANNUATION ENTITIES  

Division 4.1 - Prescribed matters  

REGULATION 4.07   REMOVAL OF INDEPENDENT TRUSTEE OR INDEPENDENT MEMBER - PRESCRIBED CIRCUMSTANCES  

4.07(1)   [Circumstances in which office-holder can be removed]  

For the purposes of subparagraph 108(2)(a)(v) of the Act, the circumstances stated in subregulation (2) are prescribed as circumstances in which an additional independent trustee or additional independent director (the office-holder ) referred to in paragraph 108(2)(a) of the Act can be removed other than by the same procedure by which they were appointed.

4.07(2)   [Prescribed circumstances]  

The circumstances referred to in subregulation (1) are:

(a) if the office-holder resigns from office; or

(b) if the office-holder's tenure of office expires; or

(c) if the office-holder ceases to be:

(i) in the case of an additional independent trustee - an independent trustee; or

(ii) in the case of an additional independent director - an independent director; or

(d) if the office-holder ceases to satisfy a condition that the office-holder was required to satisfy to be eligible for appointment.