Superannuation Industry (Supervision) Regulations 1994
[ CCH Note: Pt 4 is to have effect, in relation to regulated superannuation funds, and their trustees, as if it were modified by inserting reg 4.08A - see Modification Declaration No 10 under reg 4.08A .]
For the purposes of subsection 31(1) of the Act, the standard stated in subregulation (3) is applicable to the operation of standard employer-sponsored funds that must comply:
(a) under subsection 91(4) or 93(4) of the Act - with the basic equal representation rules; or
(b) under subsection 90(3) of the Act - with either:
(i) the basic equal representation rules; or
(ii) the alternative agreed representation rule set out in subsection 90(4) of the Act; or
(c) under subsection 92(4) of the Act - with either:
(i) the basic equal representation rules; or
4.08(2) [When standard not applicable]
(ii) the alternative agreed representation rule set out in subsection 92(5) of the Act.
Despite subregulation (1), the standard stated in subregulation (3) is not applicable:
(a) to the operation of standard employer-sponsored funds that comply with the alternative agreed representation rule set out in subsection 90(4) or 92(5) of the Act; or
(b) to a decision of a delegate of the individual trustees or of the board of directors of the corporate trustee of the fund if the delegation was approved by at least two-thirds of the total number of the trustees or directors.
View history note
Hide history note(a) the individual trustees of a fund; or
(b) the board of directors of the corporate trustee of a fund;
must be taken not to have been made, or to be of no effect, if fewer than two-thirds of the total number of the trustees or directors, as the case requires, voted for it.
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