Document ID: chunk:federal_register_of_legislation:C2025C00134:section:91
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 91
Character Range: 545962–547747

91  Pre‑1 July 1995 rules—funds with 200 or more members

Application
 (1) This section applies to a standard employer‑sponsored fund with 200 or more members, where:
 (a) the fund is a private sector fund established on or after 16 December 1985; or
 (b) the fund is a public sector fund established on or after 25 May 1988; or
 (c) if there are 2 or more standard employer‑sponsors of the fund—any one of those employer‑sponsors is not an associate of any other of those employer‑sponsors.

Pre‑1 July 1995
 (2) This section does not apply on or after 1 July 1995.

Public offer funds
 (3) If the fund is a public offer superannuation fund:
 (a) either:
 (i) the trustee of the fund must be an independent trustee; or
 (ii) the fund must comply with the basic equal representation rules; and
 (b) if the regulations provide that the fund is subject to rules about the existence, number and functions of policy committees (prescribed policy committees)—the fund must comply with those rules; and
 (c) each prescribed policy committee must consist of equal numbers of employer representatives and member representatives.

Non‑public offer funds
 (4) If the fund is not a public offer superannuation fund, the fund must comply with the basic equal representation rules.

Transitional
 (5) If, at a particular time, the number of members of a fund increases from a number less than 200 to 200 or more:
 (a) the trustee of the fund must make such arrangements (if any) as are necessary to enable the fund to comply with this section; and
 (b) the fund does not have to comply with this section during the period:
 (i) beginning at that time; and
 (ii) ending at whichever is the earlier of the following times:
 (A) the time at which such arrangements are made;
 (B) the end of 90 days.