Commonwealth Consolidated Acts

PARLIAMENTARY CONTRIBUTORY SUPERANNUATION ACT 1948 - SECT 5

             (1)  There shall be a body to be called the Parliamentary Retiring Allowances Trust.

             (2)  The Trust shall be a body corporate with perpetual succession and a common seal, and shall be capable of holding and disposing of property and of suing and being sued in its corporate name.

             (3)  The Trust shall be constituted by 5 trustees, namely:

                     (a)  the Minister for Finance;

                     (b)  2 senators; and

                     (c)  2 members of the House of Representatives.

             (4)  The powers and functions of the Minister for Finance as a trustee may be exercised by any Minister thereunto authorized in writing by the Minister for Finance, but no such authorization shall prevent the exercise of those powers and functions by the Minister for Finance himself or herself.

             (5)  A vacancy in the office of a trustee shall not invalidate the proceedings of the trustees.

             (6)  The seal of the Trust shall not be attached to any document except in accordance with a resolution of the trustees, and shall be authenticated by the signatures of 2 trustees.