Document ID: chunk:federal_register_of_legislation:C2021A00046:clause:3_220a
Version: federal_register_of_legislation:C2021A00046
Segment Type: clause
Provision Reference: sch 3 cl 220A
Character Range: 44853–45705

220A  Burden of proof—civil proceedings relating to duty to act in best financial interests of beneficiaries
 (1) In civil proceedings for a contravention of subsection 54B(1) in relation to a covenant set out in paragraph 52(2)(c), it is presumed that a trustee did not perform the trustee's duties and exercise the trustee's powers in the best financial interests of beneficiaries, unless the trustee adduces evidence to the contrary.
 (2) If, in such proceedings:
 (a) a trustee wishes to adduce evidence to the contrary—the trustee bears an evidential burden in relation to the matter; and
 (b) in the case that evidence to the contrary is so adduced—the Regulator must prove, on the balance of probabilities, that the trustee did not perform the trustee's duties and exercise the trustee's powers in the best financial interests of beneficiaries.