Superannuation Industry (Supervision) Act 1993

This section applies to a regulated superannuation fund, other than a self managed superannuation fund, of which the trustee is a body corporate.

A provision in the governing rules of the fund is void to the extent that it purports to preclude a director of the trustee from voting on a matter relating to the fund.

Subsection (2) does not apply to a provision in the governing rules of the fund to the extent that the provision:

precludes a director of the trustee of the fund from voting on a matter in which the director has a material personal interest; or

otherwise relates to voting by a director of the trustee of the fund on a matter in which the director has a material personal interest; or

precludes a director of the trustee of the fund from voting where there is a conflict of a kind described in paragraph 52(2)(d) or 52A(2)(d); or

otherwise relates to voting by a director of the trustee of the fund where there is a conflict of a kind described in paragraph 52(2)(d) or 52A(2)(d); or

precludes a director of the trustee of the fund from exercising a casting vote; or

ensures compliance by the trustee of the fund, or a director of the trustee of the fund, with a prudential standard that deals with conflicts of interest or duty.