Commonwealth Consolidated Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 33

  (1)   The regulations may prescribe standards applicable to the operation of pooled superannuation trusts ( trusts ) and to trustees and RSE licensees of those trusts.

  (2)   The standards that may be prescribed include, but are not limited to, standards relating to the following matters:

  (aa)   the circumstances in which units in trusts may be acquired;

  (a)   the ownership and disposal of units in trusts;

  (b)   the investment of assets of trusts and the management of the investment;

  (ba)   the requirements relating to fitness and propriety for RSE licensees of trusts and trustees of trusts;

  (c)   the persons who may be trustees of trusts;

  (d)   the number of trustees, and the composition of boards or committees of trustees, of trusts;

  (e)   the keeping and retention of records in relation to trusts;

  (f)   the financial and actuarial reports to be prepared in relation to trusts;

  (g)   the disclosure of information to unit - holders in trusts;

  (h)   the disclosure of information about trusts to the Regulator;

  (i)   the disclosure of information about trusts to persons other than unit - holders or the Regulator;

  (j)   the financial position of trusts;

  (ja)   the outsourcing arrangements relating to the operation of trusts;

  (jb)   the adequacy of resources (including human resources, technical resources and financial resources) of, or available to, trustees of trusts;

  (k)   the funding and solvency of trusts.