Superannuation Industry (Supervision) Legislation Amendment Act 1995 (144 of 1995)

Schedule 4   AMENDMENTS OF THE SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

71   After subsection 313(1)

Insert:

Court's power to protect the interests of beneficiaries

"(1A) If:

(a) the Commissioner is of the opinion that it is necessary for the Court to make one or more of the orders specified in subsection (2) to protect the interests of any or all of the beneficiaries of a superannuation entity; and

(b) the Commissioner applies to the Court for such an order in relation to the trustee of the entity; and

(c) the Court considers it necessary or desirable to protect the interests of any or all of the beneficiaries;

the Court may make one or more of the orders specified in subsection (2).

Any reference to the contravening person is a reference to the trustee

"(1B) For the purposes of subsection (1A), subsection (2) has effect as if any reference to the contravening person were a reference to the trustee.".