Document ID: chunk:federal_register_of_legislation:C2025C00134:section:52b:p2
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 52B (pt 2/2)
Character Range: 385223–386199

parties must be in best financial interests of beneficiaries
 (2A) To avoid doubt, the obligations of the trustee under paragraph (2)(c) apply in respect of payments to a third party by, or on behalf of, the fund.

Trustee not prevented from engaging or authorising persons to act on trustee's behalf
 (3) A covenant referred to in paragraph (2)(e) does not prevent the trustee from engaging or authorising persons to do acts or things on behalf of the trustee.

Covenant referred to in paragraph (2)(f)
 (4) An investment strategy is taken to be in accordance with paragraph (2)(f) even if it provides for a specified beneficiary or a specified class of beneficiaries to give directions to the trustee, where:
 (a) the directions relate to the strategy to be followed by the trustee in relation to the investment of a particular asset or assets of the fund; and
 (b) the directions are given in circumstances prescribed by regulations made for the purposes of this paragraph.