Australia Superannuation Industry (Supervision) Act 1993 (Cth)
Trustee and director covenants – Australia Superannuation Industry (Supervision) Act 1993 (Cth)

Australia Superannuation Industry (Supervision) Act 1993 (Cth) s52-2c: s 52(2)(c), (3A) Best financial interests duty, including payments to third parties

A trustee carries out its role, and uses its powers, with beneficiaries' best financial interests front of mind (s 52(2)(c)). To avoid doubt, this duty reaches payments the entity makes, directly or through someone acting for it, to a third party, and is not confined to paying beneficiaries themselves (s 52(3A)). Every material decision, including expenditure, sponsorships, outsourcing contracts and insurance arrangements, is assessed and documented against members' financial interests.

Maintained by Gerard Blokdyk

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