Document ID: chunk:federal_register_of_legislation:F2018L00216:reg:6
Version: federal_register_of_legislation:F2018L00216
Segment Type: reg
Provision Reference: reg 6
Character Range: 2741–4195

6  Qualifications of Fund administrator
 (1) This section makes provision in relation to a person with whom the Corporation proposes to enter, or has entered, a contract to administer the Fund, as mentioned in subsection 8(2) of the Act (the administrator).
 (2) If the administrator is an individual, the Corporation must be satisfied on reasonable grounds that the administrator:
 (a) has educational qualifications and experience appropriate to administer the Fund; and
 (b) is not an insolvent under administration within the meaning of the Corporations Act 2001; and
 (c) has not within the last 10 years been convicted of an offence involving financial dishonesty; and
 (d) is of good fame and character; and
 (e) will be an honest, efficient and fair administrator of the Fund.
 (3) If the administrator is a corporation, the Corporation must be satisfied on reasonable grounds that:
 (a) the administrator is not a Chapter 5 body corporate within the meaning of the Corporations Act 2001; and
 (b) subject to subsection (4), each officer of the administrator meets the requirements set out in subsection (2).
 (4) The Corporation may appoint a corporation as administrator even though not every officer of the administrator meets the requirements set out in subsection (2), if the Board is satisfied that the administration of the Fund is not likely to be prejudiced by the circumstance that one or more officers do not meet those requirements.