New South Wales Consolidated Acts

SUPERANNUATION ADMINISTRATION ACT 1996 - SECT 80

80 Personal and other liability

(1) A matter or thing done or omitted to be done by STC, the STC Board, a member of the Board, an STC disputes committee, a member of an STC disputes committee or any person acting under the direction of STC or the Board does not, if the matter or thing was done or omitted in good faith for the purpose of executing this or any other Act, subject such a member or a person so acting personally to any action, liability, claim or demand.

(2) A decision made, or any act or thing done or omitted, by STC, the STC Board, a member of the Board, an STC disputes committee, a member of an STC disputes committee or any person acting under the direction of STC or the Board may not be called into question on any of the following grounds:

(a) an alleged conflict of interest because STC, the Board or the person is involved in administering different Acts or different superannuation schemes,

(b) that knowledge gained by STC, the Board or the person is or may be relevant to the exercise of a function under another such Act or scheme.

(3) Subsection (1) does not preclude STC from being subject to any action, liability, claim or demand. Any money becoming payable by STC in respect of an action, liability, claim or demand is to be paid out of an STC fund or funds as determined by STC.

(4) However, money is not payable under subsection (3) in circumstances in which a trustee may not be indemnified under the Superannuation Industry (Supervision) Act 1993 of the Commonwealth.