You will require this licence if you operate as a trustee for a registrable superannuation entity (RSE). A trustee may be a:
- constitutional corporation
- body corporate that is not a constitutional corporation
- a group of individual trustees.
All trustees of a registered RSE must be licensed. There are serious penalties for operating without an RSE licence.
There are different classes of RSE licences:
- public offer entity
- non-public offer entity
- extended public offer entity
- acting trustee.
The class of licence you obtain may specify the classes of registered RSE's that you can belong too.
Trustees of self-managed superannuation funds regulated by the ATO and public sector superannuation schemes are exempt, and all superannuation entities other than those self-managed superannuation funds regulated by the ATO and exempt public sector superannuation schemes need to be registered.
Only an RSE licensee can register a superannuation entity.
