SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 2B - REGISTRABLE SUPERANNUATION ENTITIES  

Division 5 - RSE licensees must provide information about registrable superannuation entities  

Subdivision A - Annual members ' meetings  

SECTION 29PA   OBLIGATION TO ATTEND AN ANNUAL MEMBERS ' MEETING  

29PA(1)  
If:


(a) the RSE licensee of a registrable superannuation entity is a body corporate; and


(b) any of the following persons is given notice of an annual members ' meeting for the entity in accordance with subsections 29P(2) and (3) :


(i) the Chair of the board of directors of the RSE licensee;

(ii) a director of the RSE licensee;

(iii) an executive officer of the RSE licensee;

the person must attend the meeting.

Penalty: 50 penalty units.

29PA(2)  
A member of a group of individual trustees that is an RSE licensee of a registrable superannuation entity must attend an annual members ' meeting for the entity.

Penalty: 50 penalty units.

29PA(3)  
A person who has been an auditor of a registrable superannuation entity for a year of income of the entity, must attend an annual members ' meeting for the entity relating to that year if the person is given notice of the meeting in accordance with subsections 29P(2) and (3) .

Penalty: 50 penalty units.

29PA(4)  
A person who has been an actuary of a registrable superannuation entity during a year of income of the entity must attend an annual members ' meeting for the entity relating to that year if the person is given notice of the meeting in accordance with subsections 29P(2) and (3) .

Penalty: 50 penalty units.

29PA(5)  
Subsections (1), (2), (3) and (4) do not apply to a person if the person has a reasonable excuse for not attending.

29PA(6)  
Subsection (1) does not apply to a director of an RSE licensee of a registrable superannuation entity, if:


(a) other directors of the entity have attended the meeting; and


(b) the number of directors of the entity who attended the meeting is no less than the number of directors that would constitute a quorum for a meeting of the board of directors of the entity.




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