195Superannuation and other funds

195 Superannuation and other funds employee includes a director, officer, servant and employee of an employer. Law of Property Act 2000 124 fund means: (a) a provident, superannuation, retirement, sickness, accident, assurance, unemployment, pension or co-operative benefit fund, scheme, arrangement or provision; or (b) a fund, scheme, arrangement or provision for the education of children, for payments based on employment service or for long service leave (if money is taken in lieu of leave) and includes any like fund, scheme, arrangement or provision. self-employed person includes a person engaged in a lawful profession, trade, occupation or calling. (2) The rule against perpetuities does not invalidate a fund established by a settlement for the benefit of: (a) employees; (b) self-employed persons; (c) spouses, children, grandchildren, parents, dependants or legal personal representatives of employees or self-employed persons; or (d) persons duly selected or nominated for that purpose by employees or self-employed persons in pursuance of the provisions of the settlement. (3) The rule against perpetuities does not invalidate a trust established by a settlement and used for investing the assets of a fund referred to in subsection (2) (whether or not it is also used for investing other assets). (4) Subsection (3) does not affect the generality of subsection (2). (5) This section applies to settlements taking effect before or after