Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p47
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 47/52)
Character Range: 185524–188105

(1)(c) of the section—25%; and
 (b) in the case of paragraph (1)(d) of the section—at least 75%.

3.04A  Removal of trustee of public offer entity—s 60A(2) of the Act
  For the purposes of subsection 60A(2) of the Act, the following kinds of removal are specified:
 (a) a removal that will have the immediate effect that the fund complies with the basic equal representation rules set out in section 89 of the Act;
 (b) a removal that satisfies all of the following conditions:
 (i) the questions of whether the trustee should be removed, and who should replace the trustee if the removal is agreed to, have been voted on at a meeting of beneficiaries;
 (ii) the beneficiaries who vote (in person or by proxy) on each question mentioned in subparagraph (i) at the meeting referred to in that subparagraph hold interests that are in total at least 25% of the total value of all beneficiaries' interests in the fund;
 (iii) at least 75% by number of the beneficiaries who vote (in person or by proxy) at the meeting on whether to remove the trustee vote in favour of removing the trustee;
 (iv) at least 75% by number of the beneficiaries who vote (in person or by proxy) at the meeting on who the new trustee should be vote in favour of a particular person as trustee;
 (v) that person will become the trustee immediately after the removal takes effect.

3.05  Policy committees—sections 91, 92 and 93 of the Act

Pre‑1 July 1995—funds with 200 or more members (paragraph 91(3)(b) of the Act)
 (1) For the purposes of paragraph 91(3)(b) of the Act, subject to subregulation (4), a public offer superannuation fund to which section 91 of the Act applies is subject to the following rule, namely, that the trustee of the fund must take all reasonable steps to ensure that, if there are at least 200 of its members (a group), each of whom:
 (a) is a standard employer‑sponsored member; and
 (b) has a standard employer‑sponsor who is the, or is an associate of a, standard employer‑sponsor of each other member of that group;
there is at least 1 policy committee established for that group.

Post‑30 June 1995—funds with more than 6, but fewer than 50, members (paragraph 92(3)(b) of the Act)
 (2) For the purposes of paragraph 92(3)(b) of the Act, subject to subregulation (4), a public offer superannuation fund to which section 92 of the Act applies is subject to the following rule, namely, that the trustee of the fund must take all reasonable steps to ensure that if:
 (a) there are more than 6 of its members (a group) each of whom:
 (i) is a standard employer‑sponsored member;