Commonwealth Numbered Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 No. 78, 1993 - SECT 91

91.(1) This section applies to a standard employer-sponsored fund with 200 or
more members, where:

   (a)  the fund is a private sector fund established on or after 16 December
        1985; or

   (b)  the fund is a public sector fund established on or after 25 May 1988;
        or

   (c)  if there are 2 or more standard employer-sponsors of the fund-any one
        of those employer-sponsors is not an associate of any other of those
        employer-sponsors. Pre-1 July 1995

(2) This section does not apply on or after 1 July 1995. Public offer funds

(3) If the fund is a public offer superannuation fund:

   (a)  the trustee of the fund must be an independent trustee; and

   (b)  if the regulations provide that the fund is subject to rules about the
existence, number and functions of policy committees ("prescribed policy
committees")-the fund must comply with those rules; and

   (c)  each prescribed policy committee must consist of equal numbers of
        employer representatives and member representatives. Non-public offer
        funds

(4) If the fund is not a public offer superannuation fund, the fund must
comply with the basic equal representation rules. Transitional

(5) If, at a particular time, the number of members of a fund increases from a
number less than 200 to 200 or more:

   (a)  the trustee of the fund must make such arrangements (if any) as are
        necessary to enable the fund to comply with this section; and

   (b)  the fund does not have to comply with this section during the period:

        (i)    beginning at that time; and

        (ii)   ending at whichever is the earlier of the following times:

                (A)  the time at which such arrangements are made;

                (B)  the end of 90 days.