SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 6 - PROVISIONS RELATING TO GOVERNING RULES OF SUPERANNUATION ENTITIES  

SECTION 55B   55B   GOVERNING RULES DO NOT PREVENT GIVING EFFECT TO CERTAIN ELECTIONS  


A provision in the governing rules of a regulated superannuation fund is void to the extent that it would prevent a trustee or trustees of the fund from giving effect to:


(a) an election made in accordance with section 29SAA (election to transfer accrued default amounts to a MySuper product); or


(b) an election made in accordance with section 29SAB (election to transfer assets attributed to a MySuper product if authorisation cancelled); or


(c) a requirement in regulations made for the purposes of subsection 29SAA(3) ; or


(d) an election made in accordance with section 29SAC (election not to pass costs of paying conflicted remuneration onto MySuper members); or


(e) an election made in accordance with section 242B (election to transfer amounts held in an eligible rollover fund if authorisation cancelled); or


(f) an election made in accordance with section 242C (election not to pass costs of paying conflicted remuneration to members of eligible rollover fund).




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