Western Australian Consolidated Acts Western Australian Consolidated Acts (1) When a benefit
(other than a reversionary pension) is payable because a Member has died the
investment powers that would be exercisable by the Member if he or she were
alive and entitled to the benefit may be exercised —
(a) if
the benefit is payable to the executor or administrator of the estate of a
Member —
(i)
until probate of the will, or administration of the
estate, of the Member is granted, by the Board; and
(ii)
thereafter, by the executor or administrator;
or
(b)
otherwise, by the Board.
(2) If, under
regulation 242, the Board does not pay a benefit to a person entitled to
it, the investment powers exercisable by that person may be
exercised —
(a) if
there is a person authorised by or under a written law to administer the
entitled person’s affairs, by that authorised person; or
(b)
otherwise, by the Board.
(3) When exercising a
power under this regulation the Board is to act in what it reasonably
considers to be the best interests of the person who is or will become
entitled to the benefit.
(4) In this
regulation —
“investment powers” means the powers
exercisable by a Member under the regulations relating to investment choice
for Members of the scheme of which the Member was a member.
[Regulation 246B inserted in Gazette
10 Dec 2004 p. 5907.]