Superannuation Industry (Supervision) Regulations (Amendment) 1998 (83 of 1998)

11.   Regulation 4.08 (Operating standard - voting rule where equal representation applies)

11.1 Subregulation 4.08 (2):

Omit the subregulation, substitute:

" (2) 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.".