Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:8:p8
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 8 (pt 8/9)
Character Range: 220515–223199

be removed other than by the same procedure by which they were appointed.
 (2) The circumstances referred to in subregulation (1) are:
 (a) if the office‑holder resigns from office; or
 (b) if the office‑holder's tenure of office expires; or
 (c) if the office‑holder ceases to be:
 (i) in the case of an additional independent trustee—an independent trustee; or
 (ii) in the case of an additional independent director—an independent director; or
 (d) if the office‑holder ceases to satisfy a condition that the office‑holder was required to satisfy to be eligible for appointment.

Division 4.2—Operating standards

4.07C  Definitions
  In this Division:
insured benefit, for a member, means a right for the member's benefits to be increased on the realisation of a risk.

4.07D  Operating standard—permitted types of insurance
 (1) This regulation is made for subsection 31(1) of the Act.
 (2) A trustee of a regulated superannuation fund must not provide an insured benefit in relation to a member of the fund unless the insured event is consistent with a condition of release specified in item 102, 102A, 103 or 109 of Schedule 1.
 (3) However, subregulation (2) does not apply to:
 (a) the continued provision of benefits to members who joined a fund before 1 July 2014; or
 (b) the provision of benefits under an approval granted before 1 July 2014 under subparagraph 62(1)(b)(v) of the Act.
 (4) If a trustee is unable to amend the governing rules of a fund, to make the governing rules comply with subregulation (2):
 (a) the rules that do not comply with subregulation (2) are taken to have been omitted from the governing rules; and
 (b) the rules omitted under paragraph (a) are taken to have been replaced by rules that allow the provision of benefits that are permitted under subregulation (2).
 (5) This regulation does not apply until 1 July 2014.

4.07E  Operating standard—self‑insurance
 (1) This regulation is made for subsection 31(1) of the Act.
Note: See also paragraph 31(2)(eb) of the Act.
 (2) If, on 1 July 2013, a regulated superannuation fund does not self‑insure, in relation to a particular risk, a trustee of the fund may, on and after 1 July 2013, provide an insured benefit, in relation to that risk, to members of the fund only if the provision of the benefit is fully supported by an insurance policy provided by an insurer.
 (3) Subregulation (2) does not apply, on or before 1 July 2016, to a member who is transferred from a fund that self‑insured, in relation to the member and the risk, into:
 (a) a successor fund that, immediately before the transfer, did not self‑insure in relation to the risk; or
 (b) under Part 33 of the Act—a fund that,