Superannuation Industry (Supervision) Act 1993

PART 2A - LICENSING OF TRUSTEES AND GROUPS OF INDIVIDUAL TRUSTEES  

Division 2 - Classes of RSE licences  

SECTION 29B   CLASSES OF RSE LICENCES  

29B(1)   [Provision for classes]  

There are to be classes of RSE licences.

29B(2)   [Public offer entity licence]  

One class of RSE licences is to be a class that enables a trustee that holds a licence of that class to be a trustee of:

(a) any public offer entity; and

(b) any other registrable superannuation entity included in a class of registrable superannuation entities specified in regulations made for the purposes of this subsection;

subject to any condition imposed on that licence under subsection 29EA(3) .

Note 1:

An RSE licence of this class is called a public offer entity licence : see subsection 10(1) .

Note 2:

Only constitutional corporations may hold public offer entity licences: see paragraph 29D(1)(g) .

29B(3)   [Specified other entities licence]  

Another class of RSE licences is to be a class that enables a trustee that:

(a) holds a licence of that class; or

(b) is a member of a group of individual trustees that holds a licence of that class;

to be a trustee of any registrable superannuation entity included in a class of registrable superannuation entities (other than a class of public offer entities) specified in regulations made for the purposes of this subsection, subject to any condition imposed on that licence under subsection 29EA(3) .

29B(4)   [Other classes of licence to be specified]  

The regulations may provide for other classes of RSE licences. For each such class, the regulations must specify the classes of registrable superannuation entities of which a trustee that:

(a) holds a licence of that class; or

(b) is a member of a group of individual trustees that holds a licence of that class;

is enabled to be a trustee, subject to any condition imposed on that licence under subsection 29EA(3) .

29B(5)   [Entities can be specified for more than one licence]  

The classes of registrable superannuation entity that the regulations may specify in relation to a particular class of RSE licence may include one or more classes of registrable superannuation entity that the regulations specify in relation to another class of RSE licence.