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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 29PC Obligation on individual trustees to answer questions

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 29PC

Obligation on individual trustees to answer questions

  (1)   This section applies if a member of a registrable superannuation entity asks an individual trustee for the entity a question at an annual members' meeting for the entity.

  (2)   The individual trustee must answer the question at the meeting or, if it is not reasonably practicable to do so, within 1 month after the meeting.

Penalty:   50 penalty units.

  (3)   Subsection   (2) does not apply:

  (a)   if the question is not relevant to:

  (i)   an action, or failure to act, by the RSE licensee in relation to the registrable superannuation entity or one or more members of the registrable superannuation entity; or

  (ii)   the registrable superannuation entity; or

  (b)   if it would be in breach of the governing rules of the registrable superannuation entity, this Act or any other law to answer the question; or

  (c)   if answering the question would result in detriment to the members of the registrable superannuation entity, taken as a whole; or

  (d)   in any other circumstances prescribed by the regulations.

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