09 Jul 09 SMSFs and enduring powers of attorney - SMSFR 2009/D1
This draft Self Managed Superannuation Funds Ruling was released on 8 July 2009 for public comment by 21 August 2009. Its full title is "Self Managed Superannuation Funds: the scope and operation of subparagraph 17A(3)(b)(ii) of the Superannuation Industry (Supervision) Act 1993".
The draft Ruling explains how s 17A(3)(b)(ii) of the Superannuation Industry (Supervision) Act 1993 (SISA) applies to self managed superannuation funds (SMSFs). Section 17A(3)(b)(ii) allows a person who holds an enduring power of attorney in respect of a member to be trustee, or director of the corporate trustee, of a superannuation fund in place of the member without causing the fund to cease to be an SMSF.
For a copy of SMSFR 2009/D1, go here