Document ID: chunk:federal_register_of_legislation:C2025C00134:section:29e:p1
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 29E (pt 1/4)
Character Range: 152476–155046

29E  Conditions imposed on all licences and on groups of licences

Conditions imposed on all RSE licences
 (1) The following conditions are imposed on all RSE licences:
 (a) the RSE licensee and, if the RSE licensee is a group of individual trustees, each of the members of the group, must comply with the RSE licensee law and Chapter 2M of the Corporations Act 2001;
 (b) the duties of a trustee in respect of each registrable superannuation entity of which it is an RSE licensee must be properly performed by:
 (i) if the RSE licensee is a body corporate—the body corporate; or
 (ii) if the RSE licensee is a group of individual trustees—each of the members of the group;
 (ba) the RSE licensee must:
 (i) have an ABN; or
 (ii) have made an application for an ABN that has not been refused under the A New Tax System (Australian Business Number) Act 1999;
 (d) the RSE licensee must ensure that each registrable superannuation entity of which it is the RSE licensee is:
 (i) registered under Part 2B; or
 (ii) the subject of an application for registration under Part 2B that has not been finally determined or otherwise disposed of;
 (ea) the RSE licensee must ensure that each registrable superannuation entity of which it is an RSE licensee has an ABN;
 (f) the RSE licensee must notify APRA of any change in the composition or control of the RSE licensee (see subsection (2)) within 14 days after the change takes place;
 (g) the RSE licensee must comply with any other conditions prescribed by regulations made for the purposes of this paragraph.
Note 1: Breach of a licence condition may lead to consequences such as a direction from APRA to comply with the condition (see Division 1 of Part 16A) or cancellation of the licence (see section 29G).
Note 2: An RSE licensee must notify APRA if the RSE licensee breaches a licence condition: see section 29JA.
Note 3: Additional conditions may be imposed on various types of RSE licences (see subsections (3) to (7)) or a particular RSE licence (see section 29EA).

Change in the composition of the RSE licensee
 (2) For the purposes of paragraph (1)(f), a change in the composition or control of the RSE licensee is:
 (a) if the RSE licensee is a body corporate:
 (i) a person becoming, or ceasing to be, a director of the RSE licensee; or
 (ii) a person's stake in the RSE licensee changing; or
 (b) if the RSE licensee is a group of individual trustees—an individual becoming, or ceasing to be, a member of the group.
 (3) An additional condition is imposed on each RSE licence that enables a trustee that holds a