Queensland Consolidated Acts Queensland Consolidated Acts(1) A supervising entity is an entity that under subsection (2) or (4) is the supervising entity for a trustee.
(2) An entity is the supervising entity for a trustee if a regulation declares the entity to be the supervising entity for the trustee.
(3) However, a regulation may declare an entity to be a supervising entity only if the chief executive is satisfied--
(a) the entity has the qualifications, experience or standing necessary to perform the functions of a supervising entity under this Act; and
(b) anyone the entity employs to perform the functions has the qualifications, experience or standing necessary to perform the functions.
(4) If a regulation does not declare an entity other than the chief executive to be the supervising entity for a trustee, the chief executive is the supervising entity for the trustee.
(5) A reference to a supervising entity made in relation to a trustee is a reference to the trustee's supervising entity.
(6) A reference to a supervising entity made in relation to an auditor performing duties as an auditor under this Act is a reference to the supervising entity of the trustee in relation to whom the duties are performed.