sec.4EMeaning of supervising entity

### sec.4E Meaning of supervising entity A supervising entity is an entity that under subsection (2) or (4) is the supervising entity for a trustee. An entity is the supervising entity for a trustee if a regulation declares the entity to be the supervising entity for the trustee. However, a regulation may declare an entity to be a supervising entity only if the chief executive is satisfied— the entity has the qualifications, experience or standing necessary to perform the functions of a supervising entity under this Act; and anyone the entity employs to perform the functions has the qualifications, experience or standing necessary to perform the functions. If a regulation does not declare an entity other than the chief executive to be the supervising entity for a trustee, the chief executive is the supervising entity for the trustee. A reference to a supervising entity made in relation to a trustee is a reference to the trustee’s supervising entity. A reference to a supervising entity made in relation to an auditor performing duties as an auditor under this Act is a reference to the supervising entity of the trustee in relation to whom the duties are performed. s 4E ins 1997 No. 55 s 5 (sec.4E-ssec.1) A supervising entity is an entity that under subsection (2) or (4) is the supervising entity for a trustee. (sec.4E-ssec.2) An entity is the supervising entity for a trustee if a regulation declares the entity to be the supervising entity for the trustee. (sec.4E-ssec.3) However, a regulation may declare an entity to be a supervising entity only if the chief executive is satisfied— the entity has the qualifications, experience or standing necessary to perform the functions of a supervising entity under this Act; and anyone the entity employs to perform the functions has the qualifications, experience or standing necessary to perform the functions. (sec.4E-ssec.4) If a regulation does not declare an entity other than the chief executive to be the supervising entity for a trustee, the chief executive is the supervising entity for the trustee. (sec.4E-ssec.5) A reference to a supervising entity made in relation to a trustee is a reference to the trustee’s supervising entity. (sec.4E-ssec.6) A reference to a supervising entity made in relation to an auditor performing duties as an auditor under this Act is a reference to the supervising entity of the trustee in relation to whom the duties are performed. - (a) the entity has the qualifications, experience or standing necessary to perform the functions of a supervising entity under this Act; and - (b) anyone the entity employs to perform the functions has the qualifications, experience or standing necessary to perform the functions.