Document ID: chunk:federal_register_of_legislation:C2004A03971:section:1990:p26
Version: federal_register_of_legislation:C2004A03971
Segment Type: section
Provision Reference: s 1990 (pt 26/38)
Character Range: 82583–85392

(first occurring).

Disclosure of interests

29. Section 34a of the Principal Act is amended:

   (a) by omitting from paragraph (1) (a) "appointment as" and substituting "becoming";

   (b) by omitting from paragraph (1) (b) "the member's appointment as" and substituting "becoming";

    (c) by omitting from subsection (1) "appointment" and substituting "becoming a member of the Trust".

Termination of appointment

30. Section 35 of the Principal Act is amended:

    (a) by inserting in subsection (1) "part-time" before "member";

    (b) by omitting from subsection (2) "If—" and paragraphs (a), (b) and (c) and substituting the following words and paragraphs:

"If a part-time member of the Trust:

           (a) becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with the member's creditors or makes an assignment of the member's remuneration for their benefit; or

           (b) fails, without reasonable excuse, to comply with the member's obligations under section 34a; or

           (c) is absent, except on leave granted by the Minister, from 3 consecutive meetings of the Trust of which the member has had notice;".

Acting appointments

31. Section 36 of the Principal Act is amended:

(a) by inserting in subsection (2) "(other than the Chairperson)" after "Trust" (first occurring);

(b) by inserting in paragraphs (2) (a) and (b) "such" before "a part-time member";

(c) by omitting from paragraph (2) (b) "that" and substituting "his or her";

(d) by omitting subsections (3), (4), (6), (7), (8) and (9).

Meetings of Trust

32. Section 37 of the Principal Act is amended by omitting subsections (4) and (5) and substituting the following subsections:

"(4) If the Chairperson is not present at a meeting of the Trust, the members present must appoint one of their number to preside at the meeting.

"(5) At a meeting of the Trust, a quorum is constituted if the number of members present exceeds half of the number of members for the time being holding office.".

Repeal of section 39

33. Section 39 of the Principal Act is repealed.

Establishment of Fund

34. Section 40 of the Principal Act is amended by omitting from subsection (1) "Superannuation Fund" and substituting "Commonwealth Superannuation Fund No. 2".

35. After section 42 of the Principal Act the following section, Division and heading are inserted:

Certain documents not liable to stamp duty etc.

"43. An instrument or document that has been made, executed or given in the course of, or for a purpose connected with or arising out of, the exercise by the Trust of its power to invest moneys of the Fund

is not liable to stamp duty or other tax under a law of the Commonwealth, of a State or of a Territory.

"Division 2a—Provisions relating to