Document ID: chunk:federal_register_of_legislation:C2025C00134:section:10:p6
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 10 (pt 6/19)
Character Range: 69060–71676

is concerned, or takes part, in the management of the body.
exempt public sector superannuation scheme means a public sector superannuation scheme that is specified in regulations made for the purposes of this definition.
exit fee has the meaning given by subsection 99BA(2).
expert, in relation to a matter, means a person whose profession or reputation gives authority to a statement made by him or her in relation to that matter.
fees rules, in relation to MySuper products, means the rules in Division 5 of Part 2C.
financial product has the same meaning as in Division 3 of Part 7.1 of the Corporations Act 2001.
financial product advice has the same meaning as in the Corporations Act 2001.
financial services licensee has the meaning given by the Corporations Act 2001.
function includes duty.
general administration table means the table in section 6.
general fees rules means the rules in Part 11A.
governing rules, in relation to a fund, scheme or trust, means:
 (a) any rules contained in a trust instrument, other document or legislation, or combination of them; or
 (b) any unwritten rules;
governing the establishment or operation of the fund, scheme or trust.
group of individual trustees means a group of trustees each of whom is an individual trustee.
group of trustees, in relation to a fund, scheme or trust, means a board, committee or other group of trustees of the fund, scheme or trust.
half‑year means a period of 6 months ending on 30 June or 31 December.
Income Tax Assessment Act means the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997.
independent director, in relation to a corporate trustee of a fund, means a director of the corporate trustee who:
 (a) is not a member of the fund; and
 (b) is neither an employer‑sponsor of the fund nor an associate of such an employer‑sponsor; and
 (c) is neither an employee of an employer‑sponsor of the fund nor an employee of an associate of such an employer‑sponsor; and
 (d) is not, in any capacity, a representative of a trade union, or other organisation, representing the interests of one or more members of the fund; and
 (e) is not, in any capacity, a representative of an organisation representing the interests of one or more employer‑sponsors of the fund.
Note: Subsection (2) sets out the circumstances in which a director of a corporate trustee of a fund is not taken to be an associate of an employer‑sponsor of the fund.
independent trustee, in relation to a fund, means a trustee of the fund who:
 (a) is not a member of the fund; and
 (b) is neither an employer‑sponsor of the fund nor an associate of such