SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 7 - PROVISIONS APPLYING ONLY TO REGULATED SUPERANNUATION FUNDS  

SECTION 68D   VOTING BY AN INDIVIDUAL TRUSTEE - GOVERNING RULES  

68D(1)  
This section applies to a regulated superannuation fund, other than a self managed superannuation fund, of which the trustee, or each of the trustees, is an individual.

68D(2)  
A provision in the governing rules in the fund is void to the extent that it purports to preclude a trustee of the fund from voting on a matter relating to the fund. Exception

68D(3)  
Subsection (2) does not apply to a provision in the governing rules of the fund to the extent that the provision:


(a) precludes a trustee of the fund from voting on a matter in which the trustee has a material personal interest; or


(b) otherwise relates to voting by a trustee of the fund on a matter in which the trustee has a material personal interest; or


(c) precludes a trustee of the fund from voting where there is a conflict of a kind described in paragraph 52(2)(d) ; or


(d) otherwise relates to voting by a trustee of the fund where there is a conflict of a kind described in paragraph 52(2)(d) ; or


(e) precludes a trustee of the fund from exercising a casting vote; or


(f) ensures compliance by a trustee of the fund with a prudential standard that deals with conflicts of interest or duty.




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