Superannuation Industry (Supervision) Act 1993

Pt 31 repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007.

Div 2 repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007.

Subdiv D repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007.

S 371 repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007. S 371 formerly read:

SECTION 371 EXISTING TRUSTEE CEASES TO HOLD OFFICE FIRST  
371(1)
This section applies if:

(a) the existing trustee, on or after 1 July 1994, ceases to hold office as the trustee of the Part 31 entity otherwise than because of this Division; and

(b) at the time (the cessation time ) when the existing trustee ceases to hold office:

(i) the existing management company still holds office as the management company of the entity; and

(ii) the entity is a superannuation entity.

371(2)
This Division applies as if:

(a) the existing trustee had given the existing management company a notice under subsection 363(1) that specified as the date of effect the day in which the cessation time occurs; and

(b) the existing management company had given APRA a notice under subsection 364(3) ; and

(c) APRA had, under section 365 , appointed the existing management company as the new trustee of the Part 31 entity.

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History

S 371(2) amended by No 54 of 1998.

371(3)
Any notices:

(a) actually given under Subdivision B or C by the existing management company or the existing trustee; or

(b) taken by subsection 362(1) or 369(1) to have been given by the existing trustee or the existing management company;

have no effect.