SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 4.07 Removal of independent trustee or independent member--prescribed circumstances

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 4.07

  (1)   For the purposes of subparagraph   108(2)(a)(v) of the Act, the circumstances stated in subregulation   (2) are prescribed as circumstances in which an additional independent trustee or additional independent director (the office - holder ) referred to in paragraph   108(2)(a) of the Act can be removed other than by the same procedure by which they were appointed.

  (2)   The circumstances referred to in subregulation   (1) are:

  (a)   if the office - holder resigns from office; or

  (b)   if the office - holder's tenure of office expires; or

  (c)   if the office - holder ceases to be:

  (i)   in the case of an additional independent trustee--an independent trustee; or

  (ii)   in the case of an additional independent director--an independent director; or

  (d)   if the office - holder ceases to satisfy a condition that the office - holder was required to satisfy to be eligible for appointment.