13Superannuation and other funds

#### 13 Superannuation and other funds 13 Superannuation and other funds > > (1) In this section: > > > > employees includes directors, officers, servants and employees of any employer. > > > > fund means a provident, superannuation, sick, accident, assurance, unemployment, pension or co-operative benefit fund, scheme, arrangement or provision or other like fund, scheme, arrangement or provision. > > > > self-employed persons includes persons engaged in any 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 pursuant to the provisions of the settlement. > > > (2A) 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). This subsection does not affect the generality of subsection (2). > > > (3) This section applies to settlements taking effect before, on or after the appointed day. > > **s 13:** Am 1991 No 57, sec 3.