NSWIn ForceAct
Superannuation Administration Act 1996
89STC Board must report events affecting functions
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#### 89 STC Board must report events affecting functions
89 STC Board must report events affecting functions
> > (1) If the STC Board becomes aware of the occurrence of an event, or of a change in circumstances, having a significant adverse effect on the exercise of the functions of STC, the Board must give written notice to the Minister setting out particulars of the event or change in circumstances.
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> > (2) The STC Board must give the notice no later than the third business day after becoming aware of the event or change in circumstances.
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> > (3) Without limiting subsection (1), the STC Board must give written notice of an event if, as a result of the event, STC will not, or may not, be able to make payments to beneficiaries as and when the obligation to make those payments arises.