Document ID: chunk:federal_register_of_legislation:C2012A00117:clause:1_29vo
Version: federal_register_of_legislation:C2012A00117
Segment Type: clause
Provision Reference: sch 1 cl 29VO
Character Range: 8635–9493

29VO  Additional obligations of a director of a corporate trustee in relation to a MySuper product
 (1) Each director of a corporate trustee of a regulated superannuation fund that includes a MySuper product must exercise a reasonable degree of care and diligence for the purposes of ensuring that the corporate trustee carries out the obligations referred to in section 29VN.
 (2) The reference in subsection (1) to a reasonable degree of care and diligence is a reference to the degree of care and diligence that a superannuation entity director would exercise in the corporate trustee's circumstances.
 (3) A superannuation entity director is a person whose profession, business or employment is or includes acting as director of a corporate trustee of a superannuation entity and investing money on behalf of beneficiaries of the superannuation entity.