Superannuation Industry (Supervision) Act 1993

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

[ CCH Note: Part 9 has effect, in relation to regulated superannuation funds, and their trustees, as if it were modified by amending s 92 and inserting s 92A and 92B - see Modification Declaration No 10 under s 92 , 92A and 92B .]

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(Repealed by Revocation of Modification Declarations (F2005L02475))

[ CCH Note: MODIFICATION DECLARATION No 2 (No GN 31 of 10 August 1994) provides that Pt 9 is to have effect, in relation to standard employer-sponsored funds, and their trustees, as if it were modified by inserting after subsection 90(4) the following:

Transitional

(5) If, at a particular time, the number of members of a fund increases from 4 or less to more than 4 but less than 200, the fund does not have to comply with this section during the following 90 days.

This declaration is taken to have commenced on 1 December 1993. The declaration was revoked effective from 6 September 2005.]

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