Document ID: chunk:federal_register_of_legislation:C2020A00135:clause:9_63
Version: federal_register_of_legislation:C2020A00135
Segment Type: clause
Provision Reference: sch 9 cl 63
Character Range: 159654–160702

63  Subsection 56(2)
Repeal the subsection, substitute:
 (2) A provision in the governing rules of a superannuation entity is void in so far as it would have the effect of exempting a trustee of the entity from, or indemnifying a trustee of the entity against:
 (a) liability for breach of trust if the trustee:
 (i) fails to act honestly in a matter concerning the entity; or
 (ii) intentionally or recklessly fails to exercise, in relation to a matter affecting the entity, the degree of care and diligence that the trustee was required to exercise; or
 (b) liability for an amount of a criminal, civil or administrative penalty incurred by the trustee of the entity in relation to a contravention of a law of the Commonwealth (including this Act); or
 (c) the payment of any amount payable under an infringement notice (however described) given under a law of the Commonwealth (including this Act); or
 (d) liability for the costs of undertaking a course of education in compliance with an education direction (within the meaning of this Act).