Superannuation Industry (Supervision) Act 1993
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View history notePt 31 repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007.
Div 2 repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007.
Subdiv D repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007.
(Repealed by No 154 of 2007)
S 371 repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007. S 371 formerly read:
S 371(2) amended by No 54 of 1998. have no effect.
SECTION 371 EXISTING TRUSTEE CEASES TO HOLD OFFICE FIRST
371(1)
This section applies if:
(a)
the existing trustee, on or after 1 July 1994, ceases to hold office as the trustee of the Part
31
entity otherwise than because of this Division; and
(b)
at the time (the
cessation time
) when the existing trustee ceases to hold office:
(i)
the existing management company still holds office as the management company of the entity; and
(ii)
the entity is a superannuation entity.
371(2)
This Division applies as if:
(a)
the existing trustee had given the existing management company a notice under subsection
363(1)
that specified as the date of effect the day in which the cessation time occurs; and
(b)
the existing management company had given APRA a notice under subsection
364(3)
; and
(c)
APRA had, under section
365
, appointed the existing management company as the new trustee of the Part
31
entity.
371(3)
Any notices:
(a)
actually given under Subdivision
B
or
C
by the existing management company or the existing trustee; or
(b)
taken by subsection
362(1)
or
369(1)
to have been given by the existing trustee or the existing management company;
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