Duties of nominee to participant
46 Duties of nominee to participant
It is the duty of a nominee of a participant to ascertain the preferences of the participant in relation to the BSWAT payment scheme and to act in a manner that gives effect to those preferences.
A nominee does not breach the duty imposed by subsection (1) by doing an act if, when the act is done, the nominee reasonably believes that:
the nominee has ascertained the preferences of the participant in relation to the act; and
the doing of the act gives effect to those preferences.
A nominee does not breach the duty imposed by subsection (1) by refraining from doing an act if, at the relevant time, the nominee reasonably believes that:
the nominee has ascertained the preferences of the participant in relation to the act; and
not doing the act gives effect to those preferences.
The rules may modify the duty of a nominee under subsection (1) in relation to participants who cannot formulate preferences.
The rules may prescribe other duties of a nominee, including duties requiring the nominee:
to support decision‑making by the participant personally; or
to have regard to, and give appropriate weight to, the views of the participant; or
to inform the Secretary and the participant if the nominee has, acquires, or is likely to acquire, any interest, pecuniary or otherwise, that conflicts or could conflict with the performance of the nominee’s duties.
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