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SUPERCentral Governing Rules - Registered as Common Terms Document for QLD Conveyancing Purposes

27/08/2018

Version 05/18 of the SUPERCentral Governing Rules (the current version of the Governing Rules) has now been accepted as a “standard terms document” for Queensland title purposes.

The standard terms document reference is No 718 883 714.

Queensland, unlike the other States and unlike the territories permits (but does not require), the title to record whether the owner holds the land as trustee.  

In order to record the owner as holding land situated in Queensland as being held "as trustee", it is necessary to provide additional documents (being documents which evidence the claim that the land is owned in a trustee capacity) and to request that the holding “as trustee” be recorded.

Where the trustee of a self managed superannuation fund wishes to record its ownership of land situated in Queensland, the trustee will have to provide, amongst other things, a copy of the current trust deed of the superannuation fund.  Given the nature of the SUPERCentral system, this required the trustee to provide a copy of the SUPERCentral Governing Rules.

However, registering Version 05/18 of the SUPERCentral Governing Rules as a standard terms document means that trustees of self managed superannuation funds who have adopted the SUPERCentral Governing Rules and who wish to record their ownership of land situated in Queensland "as trustee" may do so by referring to Standard Terms Document No 718 883 714 rather than providing a copy of the Governing Rules.