Superannuation Safety Amendment Act 2004 (53 of 2004)

Schedule 2   Clarification of the application of the law to groups of trustees

Superannuation Industry (Supervision) Act 1993

232   Subsection 243(4)

Repeal the subsection, substitute:

Authorisation by beneficiary

(4) The first person is taken to have authorised:

(a) the trustee of the transferor fund who made the application to make the application; and

(b) the trustee of the transferor fund who paid the consideration to pay the consideration.

This rule has effect despite any direction to the contrary by the first person.