NSWIn ForceRegulation
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Superannuation Administration (Local Government Superannuation Scheme Transitional Provisions) Regulation 1997
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Turn the raw legal text into a practical explanation grounded in Superannuation Administration (Local Government Superannuation Scheme Transitional Provisions) Regulation 1997.
18 Provision of superannuation investment management services
(1) The trustee of the local government superannuation scheme must enter into a contract or an arrangement with AFML (or its successors) for the provision by AFML of superannuation investment management services for Divisions B, C and D of the local government superannuation scheme.
(2) The contract or arrangement is to cover a period commencing on or before the transfer day and ending on a date determined by the Minister (not being a date later than 30 June 2002) for the purposes of this clause.
(3) Any such contract or arrangement may provide for the circumstances in which it may be ended before that period expires. Any such termination of the contract has no effect unless it is approved in writing by the Minister.
(4) On or after the end of the contract or arrangement referred to in subclause (1), LGSS Pty Ltd is not required to enter into a further contract or arrangement with AFML but may enter into a contract or arrangement with AFML (or its successors) or any other person for the provision of superannuation investment management services.
(5) For the purposes of this clause:
AFML means Axiom Funds Management Limited.
superannuation investment management services include (but are not limited to) the following:
(a) acting as investment manager for any superannuation fund or funds concerned or part of any such fund,
(b) advising on investments and investment strategies and other related strategies for any superannuation fund or funds concerned or part of any such fund.