Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to a regulated superannuation fund, other than a self managed superannuation fund, of which the trustee is a body corporate.
(2) A provision in the governing rules of the fund is void to the extent that it purports to preclude a director of the trustee from voting on a matter relating to the fund.
(3) Subsection (2) does not apply to a provision in the governing rules of the fund to the extent that the provision:
(a) precludes a director of the trustee of the fund from voting on a matter in which the director has a material personal interest; or
(b) otherwise relates to voting by a director of the trustee of the fund on a matter in which the director has a material personal interest; or
(c) precludes a director of the trustee of the fund from voting where there is a conflict of a kind described in paragraph 52(2)(d) or 52A(2)(d); or
(d) otherwise relates to voting by a director of the trustee of the fund where there is a conflict of a kind described in paragraph 52(2)(d) or 52A(2)(d); or
(e) precludes a director of the trustee of the fund from exercising a casting vote; or
(f) ensures compliance by the trustee of the fund, or a director
of the trustee of the fund, with a prudential standard that deals with
conflicts of interest or duty.