Document ID: chunk:federal_register_of_legislation:F2025C00180:reg:65
Version: federal_register_of_legislation:F2025C00180
Segment Type: reg
Provision Reference: reg 65
Character Range: 110321–112841

65  Limit on who can be representative for defunct institution, lone institution or participating group
 (1) The purpose of this section is to prevent there being multiple different representatives with powers, functions, duties, or other responsibilities, relating to a particular institution (either directly as a representative for the institution or indirectly as a representative for a participating group that includes either the institution or a representative for the institution).

Limit on representative for defunct institution or lone institution
 (2) A person must not:
 (a) agree to be; or
 (b) become; or
 (c) be;
the representative for a participating defunct institution or a participating lone institution if the person is, or proposes to become:
 (d) a participating incorporated lone institution with a representative; or
 (e) a member of a participating group with a representative for the group other than the person.

Limit on representative for participating group
 (3) A person must not:
 (a) agree to be; or
 (b) become; or
 (c) be;
the representative for a participating group if:
 (d) the person is, or proposes to become, a participating incorporated lone institution with a representative; or
 (e) a member of the group, other than the person, is or will be a representative for either a participating defunct institution or a participating lone institution.

Empowering provisions
 (4) This section is for the purposes of paragraph 179(2)(d) of the Act.
 (5) Subsection (2) of this section also has effect for the purposes of paragraph 115(3)(f) of the Act (which affects whether the defunct institution or lone institution may be declared to be a participating institution and therefore whether the person must, under section 119 or 126 of the Act, be declared to be the representative for the institution if it is defunct or an unincorporated lone institution).
 (6) Subsection (3) of this section also has effect for the purposes of:
 (a) subparagraph 134(2)(e)(iii) of the Act (which affects whether the participating group may be declared); and
 (b) paragraph 137(2)(d) of the Act (which affects whether the person may be declared to be the representative for the group).
Note: This section is also relevant to the Operator's consideration whether to exercise powers to revoke a declaration of a person as representative or vary a declaration of the person as representative so the person ceases to be declared.

Part 13—Financial matters

Division 1—Simplified outline of this Part