SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 139A Acting trustee authorised to offer a MySuper product

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 139A

  (1)   This section applies if:

  (a)   the trustee, or the trustees, of a regulated superannuation fund is or are suspended or removed; and

  (b)   before the suspension or removal, the RSE licensee of the fund was authorised to offer a class of beneficial interest in the fund as a MySuper product.

  (2)   The Regulator must not appoint a person to act as trustee of the fund unless the person has made elections of the kind referred to in sections   29SAA, 29SAB and 29SAC.

  (3)   The person appointed to act as trustee of the fund is taken to have been authorised to offer that class of beneficial interest in the fund as a MySuper product.