Treasury Laws Amendment (Self Managed Superannuation Funds) Act 2021 (47 of 2021)

Schedule 1   Amendments

Part 1   Main amendments

Superannuation Industry (Supervision) Act 1993

2   Paragraphs 35B(3)(a) and (b)

Repeal the paragraphs, substitute:

(a) if there is a single corporate trustee - by:

(i) if the corporate trustee has one or 2 directors - each director; or

(ii) otherwise - at least half of the directors; or

(b) if there is a group of individual trustees - by:

(i) if there are only 2 trustees - both trustees; or

(ii) otherwise - at least half of the trustees.