SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 2A - LICENSING OF TRUSTEES AND GROUPS OF INDIVIDUAL TRUSTEES  

Division 2 - Classes of RSE licences  

SECTION 29B   CLASSES OF RSE LICENCES  

29B(1)   [Provision for classes]  

There are to be classes of RSE licences.

29B(2)   [Public offer entity licence]  

One class of RSE licences is to be a class that enables a trustee that holds a licence of that class to be a trustee of:


(a) any public offer entity; and


(b) any other registrable superannuation entity included in a class of registrable superannuation entities specified in regulations made for the purposes of this subsection;

subject to any condition imposed on that licence under subsection 29EA(3) .

Note 1:

An RSE licence of this class is called a public offer entity licence : see subsection 10(1) .

Note 2:

Only constitutional corporations may hold public offer entity licences: see paragraph 29D(1)(g) .

29B(3)   [Specified other entities licence]  

Another class of RSE licences is to be a class that enables a trustee that:


(a) holds a licence of that class; or


(b) is a member of a group of individual trustees that holds a licence of that class;

to be a trustee of any registrable superannuation entity included in a class of registrable superannuation entities (other than a class of public offer entities) specified in regulations made for the purposes of this subsection, subject to any condition imposed on that licence under subsection 29EA(3) .

29B(4)   [Other classes of licence to be specified]  

The regulations may provide for other classes of RSE licences. For each such class, the regulations must specify the classes of registrable superannuation entities of which a trustee that:


(a) holds a licence of that class; or


(b) is a member of a group of individual trustees that holds a licence of that class;

is enabled to be a trustee, subject to any condition imposed on that licence under subsection 29EA(3) .

29B(5)   [Entities can be specified for more than one licence]  

The classes of registrable superannuation entity that the regulations may specify in relation to a particular class of RSE licence may include one or more classes of registrable superannuation entity that the regulations specify in relation to another class of RSE licence.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.