Reg 13.07 repealed by SLI No 343 of 2007, reg 3 and Sch 1 item 20, effective 24 September 2007. Reg 13.07 formerly read:
REGULATION 13.07 MODIFICATIONS OF THE ACT AND THESE REGULATIONS
13.07(1)
The following provisions, namely:
(a)
Part
6
, and sections
102
,
116
,
122
,
123
,
124
,
125
and
126
, of the Act; and
(b)
provisions of these Regulations made under, or for the purposes of, any provision of the Act mentioned in paragraph (a);
do not apply in relation to a Part
31
entity.
Note: The term
prescribed provisions
, as used in this regulation, is defined in subregulation (6).
13.07(2)
Subject to subregulations (3) and (4), the following prescribed provisions, namely:
(a)
section
10
so far as it relates to the definition of
relevant person
, sections
100
and
101
, subsections
103(2) and (3)
and
106(1) and (3)
, sections
119
,
121
,
132
,
133
,
147
,
154
,
264
,
275
,
310
and
312
of the Act; and
(b)
regulation
3.10
;
apply in relation to a Part
31
entity as though references in those provisions to the
trustee
,
corporate trustee
or
trustees
of a fund or trust (however described), to the extent that the fund or trust is a Part
31
entity, were references to the existing management company of the Part
31
entity.
Note: The other prescribed provisions apply to the existing management company in their ordinary application.
History
Reg 13.07(2)(a) amended by SR No 21 of 2002, reg 3 and Sch 1 item 40, effective 11 March 2002, by substituting
"
154,
"
for
"
150, 154, 155, 156,
"
.
13.07(3)
For the purposes of subregulation (2), if a provision has a reference to
corporate trustee
and a reference or references to another trustee or other trustees, the reference:
(a)
applies in relation to the reference to
corporate trustee
; and
(b)
does not apply in relation to the other reference or references.
13.07(4)
For the purposes of subregulation (2), section
103
of the Act is modified by omitting subsection
103(2)
and substituting the following subsection:
(2)
The directors of the existing management company of a Part
31
entity (within the meaning of Division
2
of Part
31
) must keep, and retain for at least 10 years, the relevant minutes of all meetings of the directors at which matters affecting the entity were considered.
13.07(5)
Paragraph
346(3)(a)
of the Act is modified in relation to a Part
31
entity:
(a)
by omitting from subparagraph 346(3)(a)(iii)
"
24; and
"
and substituting
"
24; or
"
; and
(b)
by inserting after subparagraph 346(3)(a)(iii) the following subparagraph:
(iv)
superannuation entities that, for the purposes of Division
2
of Part
31
, are Part
31
entities within the meaning of that Division; and.
13.07(6)
In this regulation:
prescribed provisions
means:
(a)
the provisions of the Act (other than Part
31
); and
(b)
the provisions of these Regulations made under a provision (other than a provision in Part
31
) of the Act.
Reg 13.07 inserted by SR No 189 of 1994.
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