SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993
(a) constitutional corporations; and
(b) other bodies corporate; and
(c) groups of individual trustees. 29A(2) [Simplified outline]
The following is a simplified outline showing some key relationships between this Part and other provisions of the Act and the regulations that trustees should be aware of:
Certain provisions may be contravened if unlicensed trustees carry out particular activities (e.g.: sections 29J and 152 ). The trustee, or group of individual trustees, of a fund or trust may obtain an RSE licence under this Part.
If the trustee is a constitutional corporation, the trustee obtaining an RSE licence may result in a fund or trust becoming an approved deposit fund or pooled superannuation trust, which are each registrable superannuation entities.
If the trustee or group of individual trustees makes an election under section 19 , the fund may become a regulated superannuation fund. Regulated superannuation funds other than self managed superannuation funds are registrable superannuation entities.
A trustee, or group of individual trustees, that has obtained an RSE licence may have a registrable superannuation entity registered under Part 2B . Certain provisions may be contravened if certain activities are carried out while a registrable superannuation entity is not registered (e.g.: accepting contributions while the entity is unregistered may lead to an offence under section 34 .)
A failure to register the fund or trust may also lead to a breach of an RSE licence condition and possible loss of the RSE licence.