Document ID: chunk:federal_register_of_legislation:C2022C00261:section:52:p6
Version: federal_register_of_legislation:C2022C00261
Segment Type: section
Provision Reference: s 52 (pt 6/48)
Character Range: 45380–47912

of CSC for the purpose of making the determination; or
     (b) take part in the making by CSC of the determination.

(7) Where a Trustee is obliged by subclause (4) to disclose the nature of an interest at a meeting of CSC, the fact that the Trustee has presented to a meeting of CSC a statement under subclause (1) or (3) that includes particulars of that interest does not relieve the Trustee of the Trustee's obligation under subclause (4).

Meetings of the CSC of Trustees

8. (1) CSC shall hold such meetings as are necessary for the conduct of its affairs.

(2) The Chairperson may at any time convene a meeting of CSC and shall, when so requested in writing by another Trustee, convene a meeting of CSC within 30 days of receiving such notice.

(3) The Chairperson shall preside at all meetings of CSC at which the Chairperson is present. If the Chairperson is not present at a meeting of CSC, the Chairperson may nominate one of the Trustees to be Chairperson for the meeting. In the absence of such nomination, the Trustees shall elect one of the Trustees present at the meeting as a Chairperson for the meeting.

(4) At a meeting of CSC 4 Trustees, or acting Trustees, shall constitute a quorum and all decisions of CSC shall require a majority of 4 votes of the Trustees, or acting Trustees, present in person and voting.

(5) CSC shall keep accurate records of all meetings held by CSC.

Operation of the Fund

9. (1) All contributions and other moneys paid to CSC, or as directed by CSC, shall be held in trust by CSC in the Fund. The Fund shall be managed and invested by CSC in accordance with the Act and the Deed.

(2) The Fund shall comprise:
     (a) contributions made by members;
     (b) contributions made by the Commonwealth pursuant to the Act and the Deed;
     (c) any other moneys paid or transferred to CSC pursuant to the Act and the Deed or which become subject to the trusts of the Deed;
     (d) the income arising from investments; and
     (e) any accretions to or profits on realisation of investments.

(3) The Fund shall be used by CSC to pay benefits to or in respect of members, to make payments to the Commonwealth in respect of members' benefits as provided for in the Act and to pay the costs and expenses of the management and investment of the Fund.

Investment of the Fund

10. (1) For the purposes of this clause:
     (a) "invest" means expend moneys with a view to obtaining a present or future financial return (whether by way of income, profit or otherwise); and
     (b) "profit"