29PAnnual members’ meeting

#### 29P Annual members’ meeting RSE licensees must hold annual members’ meetings (1) The RSE licensee of a registrable superannuation entity must hold an annual meeting of members of the entity for each year of income of the entity. Notice of meeting (2) The RSE licensee must give notice of the annual members’ meeting to each of the following: (a) all members of the registrable superannuation entity; (b) if the RSE licensee is a body corporate—all responsible officers of the body corporate; (c) any individual, company or firm that is the RSE auditor of the registrable superannuation entity; (ca) any individual, company or firm that has been an RSE auditor of the registrable superannuation entity for the year of income of the entity; (d) any person who has been an actuary of the registrable superannuation entity during the year of income of the entity. (3) The RSE licensee must: (a) set out in the notice: (i) if there is only one location at which to physically attend the annual members’ meeting—the date, time and place for the meeting; and (ii) if there are 2 or more locations at which to physically attend the annual members’ meeting—the date and time for the meeting at each location, and the main location for the meeting; and (iii) if virtual meeting technology is to be used in holding the annual members’ meeting—sufficient information to allow persons to participate in the meeting by means of the technology; and (aaa) include in the notice the agenda of matters to be discussed at the annual members’ meeting; and (aa) include in the notice links to each of the following reports that are publicly available on the registrable superannuation entity’s website: (i) the financial report for the year of income of the entity; (ii) the directors’ report for the year of income of the entity; (iii) the auditor’s report on the financial report for the year of income of the entity; and (b) include with the notice any other information prescribed by the regulations; and (c) give the notice, and any information required to be included with the notice, in the manner (if any) prescribed by the regulations; and (d) give the notice, and any information required to be included with the notice: (i) no later than 6 months after the end of the year of income of the entity; and (ii) at least 21 days before the meeting. (3A) Despite subsection 14(2) of the Legislation Act 2003, regulations made for the purposes of paragraph (3)(b) may make provision in relation to a matter by applying, adopting or incorporating (with or without modification) any matter contained in a reporting standard, made by APRA under the Financial Sector (Collection of Data) Act 2001, as in force or existing from time to time. Timing of meeting (4) The meeting must be held within 3 months after the notice of the meeting is given in accordance with subsections (2) and (3). Place and time of meetings and presence at meetings (4A) The RSE licensee may hold the annual members’ meeting: (a) at one or more physical venues; or (b) at one or more physical venues and using virtual meeting technology; or (c) using virtual meeting technology only. (4B) The place at which the annual members’ meeting is held is taken to be: (a) if the meeting is held at only one physical venue (whether or not it is also held using virtual meeting technology)—that physical venue; or (b) if the meeting is held at more than one physical venue (whether or not it is also held using virtual meeting technology)—the main physical venue of the meeting as set out in the notice of the meeting; or (c) if the meeting is held using virtual meeting technology only—the registered address of, or an address for service of notices on, the registrable superannuation entity as contained in a register kept by APRA under regulations made for the purposes of subsection 353(2). (4C) The time at which the annual members’ meeting is held is taken to be the time at the place at which the meeting is taken to be held in accordance with subsection (4B). (4D) A person who attends the annual members’ meeting (whether at a physical venue or by using virtual meeting technology) is taken for all purposes to be present in person at the meeting while so attending. Conduct of an annual members’ meeting (5) At the annual members’ meeting, the RSE licensee must give members of the registrable superannuation entity reasonable opportunities to ask questions about: (a) the registrable superannuation entity; and (b) if the RSE licensee is a body corporate—the RSE licensee and the responsible officers of the RSE licensee; and (c) if the RSE licensee is a group of individual trustees—each of the individual trustees; and (d) any audit of the registrable superannuation entity for the year of income of the entity; and (e) any actuarial investigation of the registrable superannuation entity during the year of income of the entity; and (f) any information included with the notice of the meeting. Minutes of meeting (6) The RSE licensee must ensure that: (a) minutes of the annual members’ meeting are prepared; and (b) those minutes include the answers to any questions asked at the meeting that a person is obliged to answer either at or after the meeting under sections 29PB, 29PC, 29PD or 29PE; and (c) those minutes are made available to all members on the registrable superannuation entity’s website. Subsection (1) does not apply in relation to certain entities (7) Subsection (1) does not apply in relation to a registrable superannuation entity that is: (a) a superannuation fund with no more than 6 members; or (b) an excluded approved deposit fund; or (c) a pooled superannuation trust; or (d) an eligible rollover fund. Offence (8) A person commits an offence if: (a) the person is: (i) a body corporate that is an RSE licensee; or (ii) a member of a group of individual trustees that is an RSE licensee; and (b) the RSE licensee contravenes subsection (1), (2), (3), (4), (5) or (6). Penalty: 50 penalty units.