Document ID: chunk:federal_register_of_legislation:C2025C00134:section:29pa:p1
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 29PA (pt 1/2)
Character Range: 197388–199934

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) If:
 (a) a person (the relevant person) has been an individual RSE auditor of a registrable superannuation entity for a year of income of the entity; and
 (b) the relevant person is given notice of an annual members' meeting for the entity for the year in accordance with subsections 29P(2) and (3);
then:
 (c) if the relevant person is a practising auditor—the relevant person must attend the meeting; and
 (d) if:
 (i) the relevant person is not a practising auditor; and
 (ii) another person is the individual RSE auditor of the entity;
  the individual RSE auditor must attend the meeting; and
 (e) if:
 (i) the relevant person is not a practising auditor; and
 (ii) a firm or company is the RSE auditor of the entity; and
 (iii) the firm or company is conducting an audit of the entity;
  the lead auditor of the audit must attend the meeting.
Penalty: 50 penalty units.
 (3A) If:
 (a) a firm or company has been an RSE auditor of a registrable superannuation entity for a year of income of the entity; and
 (b) the firm or company is given notice of an annual members' meeting for the entity for the year in accordance with subsections 29P(2) and (3); and
 (c) a person (the relevant lead auditor) was the lead auditor of the audit of the entity that was conducted by the firm or company for the year;
then:
 (d) if:
 (i) the firm or company conducts audits; and
 (ii) the relevant lead auditor is a member or employee of the firm or a director or employee of the company;
  the relevant lead auditor must attend the meeting; and
 (e) if:
 (i) the firm or company conducts audits; and
 (ii) paragraph (d) does not apply; and
 (iii) a person (the relevant audit team member) was a member of the audit team that was involved in the audit of the entity that was conducted by the firm or company for the year; and
 (iv) the relevant audit team