Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p49
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 49/52)
Character Range: 190246–192999

vacancy, in accordance with paragraph 91(3)(c), 92(3)(c) or 93(3)(c) of the Act (whichever is applicable) if:
 (a) immediately before the vacancy occurred, the policy committee consisted of equal numbers of employer representatives and member representatives; and
 (b) the vacancy is filled within 90 days after it occurred; and
 (c) immediately after the vacancy is filled, the policy committee consists of equal numbers of employer representatives and member representatives.

3.06  Policy committees—functions (paragraphs 91(3)(b), 92(3)(b) and 93(3)(b) of the Act)
 (1) For the purposes of paragraphs 91(3)(b), 92(3)(b) and 93(3)(b) of the Act, a public offer superannuation fund to which section 91, 92 or 93 of the Act applies is subject to the following rule, namely, that the functions that a policy committee of a fund may undertake include the following:
 (a) providing an avenue:
 (i) for members of the fund to inquire about the investment strategy and performance of the fund; and
 (ii) for the trustee of the fund to obtain the views of members of the fund concerning that strategy and performance;
 (b) providing an avenue for members of the fund to inquire about the fund's operation or performance;
 (c) providing an avenue for the trustee of the fund to obtain the views of members of the fund concerning the fund's operation or performance;
 (d) providing an avenue for the trustee of the fund to obtain the views of members of the fund on their information needs;
 (e) assisting the trustee of the fund in dealing with complaints or inquiries about the operation or management of the fund.
 (2) Subregulation (1) is not to be taken as limiting by implication the functions and responsibilities of the trustee.

3.07  Definition of policy committee in section 10 of the Act—matters specified for purposes of paragraph (a)
  Issues relating to the fund that a member of the fund, or the employer‑sponsor of a member of the fund, has raised with the committee as a matter of concern, are specified for the purposes of paragraph (a) of the definition of policy committee in section 10 of the Act.

3.08  Policy committees—duties of trustee
 (1) In relation to each policy committee of a public offer superannuation fund, the trustee of the fund must:
 (a) ensure, so far as practicable, that the committee meets at least once in any 12‑month period; and
 (b) provide facilities that are reasonably necessary to enable the committee to meet and to function effectively.
 (2) A meeting may be held wholly or in part by means of a telephone conference connection among the committee members and, if a representative of the trustee is to attend, the representative.
 (3) The trustee must arrange for a representative of the trustee to attend