Document ID: chunk:federal_register_of_legislation:C2019A00040:clause:7_29pa
Version: federal_register_of_legislation:C2019A00040
Segment Type: clause
Provision Reference: sch 7 cl 29PA
Character Range: 68989–70797

29PA  Obligation to attend an annual members' meeting
 (1) If:
 (a) the RSE licensee of a registrable superannuation entity is a body corporate; and
 (b) any of the following persons is given notice of an annual members' meeting for the entity in accordance with subsections 29P(2) and (3):
 (i) the Chair of the board of directors of the RSE licensee;
 (ii) a director of the RSE licensee;
 (iii) an executive officer of the RSE licensee;
the person must attend the meeting.
Penalty: 50 penalty units.
 (2) A member of a group of individual trustees that is an RSE licensee of a registrable superannuation entity must attend an annual members' meeting for the entity.
Penalty: 50 penalty units.
 (3) A person who has been an auditor of a registrable superannuation entity for a year of income of the entity, must attend an annual members' meeting for the entity relating to that year if the person is given notice of the meeting in accordance with subsections 29P(2) and (3).
Penalty: 50 penalty units.
 (4) A person who has been an actuary of a registrable superannuation entity during a year of income of the entity must attend an annual members' meeting for the entity relating to that year if the person is given notice of the meeting in accordance with subsections 29P(2) and (3).
Penalty: 50 penalty units.
 (5) Subsections (1), (2), (3) and (4) do not apply to a person if the person has a reasonable excuse for not attending.
 (6) Subsection (1) does not apply to a director of an RSE licensee of a registrable superannuation entity, if:
 (a) other directors of the entity have attended the meeting; and
 (b) the number of directors of the entity who attended the meeting is no less than the number of directors that would constitute a quorum for a meeting of the board of directors of the entity.