Document ID: chunk:federal_register_of_legislation:C2004A01287:clause:1_29pa
Version: federal_register_of_legislation:C2004A01287
Segment Type: clause
Provision Reference: sch 1 cl 29PA
Character Range: 79717–81165

29PA  Requirement to maintain and review risk management plans

 (1) An RSE licensee of a registrable superannuation entity that has been registered under this Part must:
 (a) ensure that at all times the risk management plan for the entity is up‑to‑date; and
 (b) ensure that the risk management plan for the entity is reviewed at least once each year to ensure that it complies with section 29P; and
 (c) modify, or replace, the risk management plan for the entity in accordance with section 29PB if at any time the trustee becomes aware that the risk management plan no longer complies with section 29P.

 (2) An RSE licensee of a registrable superannuation entity must review the risk management plan for the entity within 60 days after the RSE licensee:
 (a) becomes the RSE licensee of the entity (unless the entity is a registrable superannuation entity of which, at the time of the application for an RSE license, the RSE licensee proposed to become the RSE licensee); or
 (b) becomes an acting trustee appointed under Part 17 of a superannuation entity following the suspension or removal of a former trustee of the entity under that Part.
However, this subsection does not apply if a review of the risk management plan is due under paragraph (1)(b) within the 60 days after the RSE licensee becomes the RSE licensee, or trustee, of the entity.

Note: Only a person may be appointed as an acting trustee under Part 17: see section 134.