Commonwealth Consolidated Acts

RETIREMENT SAVINGS ACCOUNTS ACT 1997 - SECT 40

             (1)  An RSA provider must not enter into any interest off‑set arrangements or combination account arrangements where one of the accounts involved is an RSA.

Penalty:  100 penalty units.

          (1A)  Subsection (1) is an offence of strict liability.

Note 1:       Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2:       For strict liability , see section 6.1 of the Criminal Code .

             (2)  A contravention of subclause (1) does not affect the validity of a transaction to the extent that the transaction relates to an account other than an RSA.