SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 9 - EQUAL REPRESENTATION OF EMPLOYERS AND MEMBERS - EMPLOYER-SPONSORED FUNDS  

SECTION 90   PRE-1 JULY 1995 RULES - FUNDS WITH FEWER THAN 200 MEMBERS  

90(1)   Application.  

This section applies to a standard employer-sponsored fund (other than a public offer superannuation fund) with fewer than 200 members, where:


(a) the fund is a private sector fund established on or after 16 December 1985; or


(b) the fund is a public sector fund established on or after 25 May 1988; or


(c) if there are 2 or more standard employer-sponsors of the fund - any one of those employer-sponsors is not an associate of any other of those employer-sponsors.

90(2)   Pre-1 July 1995.  

This section does not apply on or after 1 July 1995.

90(3)   Rules.  

The fund must comply with:


(a) the basic equal representation rules; or


(b) the alternative agreed representation rule set out in subsection (4).

90(4)   Alternative agreed representation rule.  

For the purposes of this section, a fund complies with the alternative agreed representation rule if any of the trustees of the fund are appointed following nomination by agreement between:


(a) either:


(i) the members of the fund; or

(ii) a trade union, or other organisation, representing the interests of those members; and


(b) either:


(i) the employer or employers of those members; or

(ii) an organisation representing the interests of that employer or those employers.

90(5)   Transitional.  

(Repealed by Revocation of Modification Declarations (F2005L02475))




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