Industry Superannuation Fund definition

Industry Superannuation Fund means a complying superannuation fund, as defined in the Superannuation Industry (Supervision) Act 1993, that: (i) has twenty or more participating employers; (ii) excluding any independent directors, provides for half of the trustee board to be comprised of employee representatives and/or nominated by one or more trade unions and half of the trustee board to be comprised of representatives of participating employers; and (iii) operates on a “not for profit” basis.
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Examples of Industry Superannuation Fund in a sentence

  • The employer shall pay on the employee's account, to one of either the Australian Primary Industry Superannuation Fund or AMP Retirement Superannuation Fund, or such other fund by agreement between the employee and the employer, an amount representing an amount of superannuation as required by law.

  • Meat team members engaged prior to the commencement of this Agreement who were enrolled in either MIESF (Meat Industry Superannuation Fund) or AMIST (Australian Meat Industry Superannuation Trust) superannuation funds can continue to be members of the fund and shall have contributions paid into that fund.

  • Fund means any approved and eligible Industry Superannuation Fund that conforms to the Commonwealth Government’s operational standards for Occupational Superannuation.

  • Alternatively, the Employee may nominate to Museums Victoria, within 14 days of commencement, an Industry Superannuation Fund selected from the list supplied by Museums Victoria, subject to the fund being a complying superannuation fund for the purposes of the Superannuation Industry (Supervision) ▇▇▇ ▇▇▇▇ (Cth).

  • If a Client wishes a re-classification, he/ she needs to send a written request to the Company which shall review his/ her request in terms of the DFSA rules and notify him/ her of the status.

  • The Employee may remain a member of the Defined Benefit Section (Part 2) of the Electricity Supply Industry Superannuation Fund.

  • An employee will have the choice of the employer paying all Superannuation requirements under the Superannuation Guarantee (Administration) Act 1997 into one of the following funds: Construction & Building Industry Superannuation Fund (CBUS) OR Australian Super Choice of fund may only be exercised once during the life of this agreement.

  • All permanent employees of the company and casual employees hired directly are entitled to benefits on termination from the Victorian Electricity Industry Superannuation Fund.

  • Fund means any approved and eligible Industry Superannuation Fund that conforms to he HESTA means the Health Employees Superannuati n Trust Australia.

  • In addition to the contributions required under subclause (1) above, the Employer shall contribute to the Coal Industry Superannuation Fund an amount or rate that is required for the Employer to comply with the Coal Industry Superannuation Regulations 1990 (WA) (the regulations).