Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p1
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 1/66)
Character Range: 225499–228497

3                              is eligible to make a claim for an insured benefit                                     (a) lodge a claim; and
                                                                                                                      (b) have the claim determined; and
                                                                                                                      (c) receive an insured benefit, if the trustee so determines

 (10) In this regulation:
fund includes a sub‑fund.

4.08  Operating standard—voting rule where equal representation applies
 (1) For the purposes of subsection 31(1) of the Act, the standard stated in subregulation (3) is applicable to the operation of standard employer‑sponsored funds that must comply:
 (a) under subsection 91(4) or 93(4) of the Act—with the basic equal representation rules; or
 (b) under subsection 90(3) of the Act—with either:
 (i) the basic equal representation rules; or
 (ii) the alternative agreed representation rule set out in subsection 90(4) of the Act; or
 (c) under subsection 92(4) of the Act—with either:
 (i) the basic equal representation rules; or
 (ii) the alternative agreed representation rule set out in subsection 92(5) of the Act.
 (2) Despite subregulation (1), the standard stated in subregulation (3) is not applicable:
 (a) to the operation of standard employer‑sponsored funds that comply with the alternative agreed representation rule set out in subsection 90(4) or 92(5) of the Act; or
 (b) to a decision of a delegate of the individual trustees or of the board of directors of the corporate trustee of the fund if the delegation was approved by at least two‑thirds of the total number of the trustees or directors.
 (3) A decision of:
 (a) the individual trustees of a fund; or
 (b) the board of directors of the corporate trustee of a fund;
must be taken not to have been made, or to be of no effect, if fewer than two‑thirds of the total number of the trustees or directors, as the case requires, voted for it.

4.08A  Operating standard—member representation for certain regulated superannuation funds where a declaration under subsection 18(7) of the Act applies
 (1) For the purposes of subsection 31(1) of the Act, the standard stated in subregulation (2) applies to the operation of regulated superannuation funds.
 (2) A regulated superannuation fund:
 (a) that is not a standard employer‑sponsored fund; and
 (b) that has more than 6 members; and
 (c) in relation to which a declaration under subsection 18(7) of the Act is in force;
must have in place an arrangement in relation to the management and control of the fund that:
 (d) has been agreed to by a majority of the members of the fund; and
 (e) is approved by APRA in writing.
Note: Subsection 18(7) of the Act allows for funds to be declared not to be public offer funds.
 (3) An approval for paragraph (2)(e):
 (a) is subject to any conditions specified in the instrument of approval; and
 (b) may be