Commonwealth Numbered Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 No. 78, 1993 - SECT 357

357.(1) Subject to section 358, the existing management company may retire
from the office of management company of the Part 31 entity by giving written
notice to the existing trustee in accordance with this section.

(2) A notice must specify a date of effect that is:

   (a)  a least 3 months after it is given to the existing trustee; and

   (b)  after 30 June 1994.

(3) The existing management company cannot give a notice if the existing
trustee has already given the existing management company a notice under
section 363.

(4) If the existing management company gives the existing trustee a notice,
the existing management company must give a copy of the notice to the
Commissioner.

(5) The existing management company must not intentionally or recklessly
contravene subsection (4). Penalty: 250 penalty units.

(6) A notice cannot be revoked.