Do superannuation trustees need to comply with SIS Act trustee covenants?
A computed answer from the Rules Mate applicability engine, with the exact condition, the outcome for every structure and size, and the primary source.
Short answer: Yes
Yes. This obligation applies to superannuation trustees whatever their structure or size. The deciding fact: Industry: Superannuation trustees.
The obligation in brief
Comply with SIS Act trustee covenants. Section 52 of the Superannuation Industry (Supervision) Act 1993 imposes covenants on trustees of regulated super funds: act with care, skill and diligence; act in the best financial interests of beneficiaries; avoid conflicts; observe prudent investment principles; and maintain adequate financial resources. APRA-regulated trustees additionally comply with SPS 510, SPS 530, SPS 220.
Trigger: Holding office as a super fund trustee.
Why superannuation trustees get a different answer
Rules Mate runs its applicability engine across 9 business structures and 6 size bands for each of the 35 industries it maps. For 34 of those industries the answer for "Comply with SIS Act trustee covenants" is it depends on structure or size. Superannuation trustees is one of the 1 where the answer is different: yes.
The deciding fact for superannuation trustees: Industry: Superannuation trustees.
About the industry: Trustees of APRA-regulated super funds.
Compare a professional services (general) business with 6–19 employees structured as a Pty Ltd company: the obligation does not apply (Requires industry: Superannuation trustees or an SMSF).
Answer by business structure and size
Each cell is the engine's outcome for a business in superannuation trustees with that structure and size, assuming it sells to consumers and small businesses and holds customer contact details. "Check" means the obligation turns on a fact the industry does not settle.
| Structure | No employees | 1–5 employees | 6–19 employees | 20–99 employees | 100–499 employees | 500+ employees |
|---|---|---|---|---|---|---|
| Sole trader | Yes | Yes | Yes | Yes | Yes | Yes |
| Partnership | Yes | Yes | Yes | Yes | Yes | Yes |
| Trust | Yes | Yes | Yes | Yes | Yes | Yes |
| Pty Ltd company | Yes | Yes | Yes | Yes | Yes | Yes |
| Public company | Yes | Yes | Yes | Yes | Yes | Yes |
| Not-for-profit (unregistered) | Yes | Yes | Yes | Yes | Yes | Yes |
| Registered charity | Yes | Yes | Yes | Yes | Yes | Yes |
| Super fund | Yes | Yes | Yes | Yes | Yes | Yes |
| Foreign company | Yes | Yes | Yes | Yes | Yes | Yes |
What the obligation requires
- When due
- Continuous.
- Evidence to keep
- Investment governance framework, conflicts register, trustee minutes, BFID decision documentation.
- Maximum penalty
- Civil penalties (Commonwealth penalty units, indexed); loss of RSE licence; member compensation orders
- Regulator
- APRA, ASIC and ATO
- Jurisdiction
- Commonwealth (national)
Other obligations where superannuation trustees differ from the norm
- Annual YFYS performance test (MySuper + Choice): Yes
- Lodge an annual SMSF audit before lodging the SMSF Annual Return: No
- Maintain SMSF compliance with the sole purpose test (s 62): No
- Stronger Member Outcomes — APRA SPS 515: Yes
- Comply with SPS 530 (Investment Governance) for APRA-regulated super funds: Yes
- MySuper authorisation for default super products: Yes
- All 15 answers for superannuation trustees
Questions
- Do superannuation trustees need to comply with SIS Act trustee covenants?
- Yes. This obligation applies to superannuation trustees whatever their structure or size. The deciding fact: Industry: Superannuation trustees.
- Is the answer the same for every industry?
- No. For 34 of the 35 industries Rules Mate maps, the answer is it depends on structure or size. Superannuation trustees is one of 1 industries with a different answer.
Related
Sources
- APRA: official source
- Superannuation Industry (Supervision) Act 1993
- APRA guidance
- ASIC guidance
- ATO guidance
Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.