SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 3 - OPERATING STANDARDS  

Division 2 - Operating standards  

SECTION 33   OPERATING STANDARDS FOR POOLED SUPERANNUATION TRUSTS  

33(1)   [Standards prescribed in regulations]  

The regulations may prescribe standards applicable to the operation of pooled superannuation trusts ( trusts ) and to trustees and RSE licensees of those trusts.

33(2)   [Scope of standards]  

The standards that may be prescribed include, but are not limited to, standards relating to the following matters:


(aa) the circumstances in which units in trusts may be acquired;


(a) the ownership and disposal of units in trusts;


(b) the investment of assets of trusts and the management of the investment;


(ba) the requirements relating to fitness and propriety for RSE licensees of trusts and trustees of trusts;


(c) the persons who may be trustees of trusts;


(d) the number of trustees, and the composition of boards or committees of trustees, of trusts;


(e) the keeping and retention of records in relation to trusts;


(f) the financial and actuarial reports to be prepared in relation to trusts;


(g) the disclosure of information to unit-holders in trusts;


(h) the disclosure of information about trusts to the Regulator;


(i) the disclosure of information about trusts to persons other than unit-holders or the Regulator;


(j) the financial position of trusts;


(ja) the outsourcing arrangements relating to the operation of trusts;


(jb) the adequacy of resources (including human resources, technical resources and financial resources) of, or available to, trustees of trusts;


(k) the funding and solvency of trusts.




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