Commonwealth Numbered Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 No. 78, 1993 - SECT 21

21.(1) The object of this Part is to provide for constitutional corporations
to be approved as trustees for the purposes of this Act.

(2) The significance of the approval of trustees is as follows:

   (a)  a fund cannot be an approved deposit fund unless it is maintained by
        an
approved trustee (the other requirements of the definition of "approved
deposit fund" in section 10 must also be satisfied);

   (b)  the trustee of a public offer entity must not engage in conduct to
        which section 152 applies unless the trustee is an approved trustee
        (the other requirements of subsection 152(2) must also be satisfied).