Examples of RSE Licensee in a sentence
The Trustee of the Fund is Equity Trustees Superannuation Limited (ABN 50 055 641 757, RSE Licensee L0001458).
According to Superannuation Prudential Standard 114: Operational Risk Financial Requirement, (SPS 114) which became effective 1 July 2013, the financial resources held to meet the ORR must be held either as; • An operational risk reserve held within an RSE; • Operational risk trustee capital held by the RSE licensee; or • A combination of both an operational risk reserve held within an RSE and operational risk trustee capital held by the RSE Licensee.
The Trustee of the Fund is Equity Trustees Superannuation Limited (ACN 055 641 757, RSE Licensee L0001458).
The SPS has the effect of amplifying certain Corporations Act obligations that require the Trustee to possess the attributes and skills to enable it to properly discharge the duties and responsibilities of an RSE Licensee in a prudent manner.
Core RequirementsDirectors must be:• Eligible to be appointed to and hold the position of Director of an RSE Licensee under Australian law.• Assessed as being and remain Fit & Proper under this Policy.• Be normally resident in Australia.
Core RequirementsThe External Auditor must:• Commencing in the 2012 calendar year, the External Audit Partner must meet all Fit and Proper test set out in this Policy prior to appointment and each year after as part of the Trustee’s Fit & Proper Review.• Be eligible to be appointed to and hold a Responsible Person position for an RSE Licensee under Australian law.• Be normally resident in Australia.
Core RequirementsThe First Super CEO must:• Meet all Fit and Proper test set out in this Policy prior to appointment and each year after as part of the Trustee’s Fit & Proper Review;• Be eligible to be appointed to and hold a Responsible Person position for an RSE Licensee under Australian law; and• Be normally resident in Australia.
Core RequirementsThe Internal Auditor must:• Commencing in the 2012 calendar year, the Internal Audit Partner must meet all Fit and Proper tests set out in this Policy prior to appointment and each year after as part of the Trustee’s Fit & Proper Review;• Be eligible to be appointed to and hold a Responsible Person position for an RSE Licensee under Australian law;• Be normally resident in Australia; and• Agree to enter into a written agreement that complies with the Trustee’s Outsourcing Policy.
For any Employee that does not provide a Choice of Fund form within the requisite period determined by the Employer, all contributions will be paid to Statewide Superannuation Pty Ltd ABN 62 008 099 223 (AFSL 243171) Trustee and RSE Licensee of Statewide Superannuation Trust ABN 54 145 196 298 (Statewide Super).
In addition to the requirements outlined in this Policy, for RSE Licensees, additional requirements exist to: ensure performance based components of remuneration are designed to encourage behaviour that supports protecting the interests, and meeting the reasonable expectations, of beneficiaries; and support the long term financial soundness of the RSE Licensee and any of its RSEs.