Section 59(1) of the Superannuation Industry (Supervision) Act 1993 (Cth) provides that generally only a trustee can exercise discretion under a super fund’s governing rules. Therefore, a binding death benefit nomination (BDBN) appears to be not allowed, because it involves someone other than a trustee (that is, the member) exercising discretion (that is, to whom
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We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
Advice