Superannuation Industry (Supervision) Act 1993
(a) the trustee, or the trustees, of the entity have consented to the amendment; or
(b) if the entity is an employer-sponsored fund:
(i) the amendment relates to the contributions that an employer-sponsor will, after the amendment, be required or permitted to pay to the fund; or
(ii) the amendment relates solely to the termination of the fund; or
(iii) the circumstances in which the amendment was made are covered by regulations made for the purposes of this subparagraph; or
(c) the amendment is made solely for the purpose of conferring on the trustee, or the trustees, the power to consent to amendments of those rules.
S 60(1) amended by No 53 of 2004, s 3 and Sch 2 items 73 and 74, by substituting ``the trustee, or the trustees, of the entity have'' for ``the trustee has'' in para (a) and substituting ``the trustee, or the trustees,'' for ``the trustee'' in para (c), effective 1 July 2004.
S 60(1) amended by No 121 of 1999, s 3 and Sch 1 item 41, by substituting ``a self managed superannuation fund'' for ``an excluded fund'', effective 8 October 1999. For transitional and saving provisions, see the history note under the heading to Pt 24B .
(a) a person other than a constitutional corporation would be eligible to be appointed as trustee unless the rules provide, and will continue to provide after the amendment is made, that the fund has, as its sole or primary purpose, the provision of old-age pensions; or
(b) the sole or primary purpose of the fund would be a purpose other than the provision of old-age pensions unless the rules provide, and will continue to provide after the amendment is made, that the trustee must be a constitutional corporation.
S 60(2) amended by No 38 of 1999.
If the governing rules of the superannuation entity are inconsistent with subsection (1) or (2), the subsection concerned prevails, and the governing rules are, to the extent of the inconsistency, invalid.
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