Commonwealth Consolidated Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 11C

             (1)  This section applies if:

                     (a)  the Regulator is given an approved form in a way that is required or permitted as mentioned in paragraph 11A(3)(b); and

                     (b)  the form is given to the Regulator by a person on behalf of the trustee, or one or more of the trustees, of a superannuation entity.

In this section, the trustee, or each of the trustees, on whose behalf the form is given is referred to as the responsible trustee .

             (2)  The responsible trustee is guilty of an offence if the responsible trustee does not, before the form is given to the Regulator, make a signed declaration that states that:

                     (a)  the person is authorised to give the form to the Regulator on the responsible trustee's behalf; and

                     (b)  the information in the form is correct.

Maximum penalty:    50 penalty units.

             (3)  The responsible trustee is guilty of an offence if the responsible trustee does not retain the declaration for 5 years after it is made.

Maximum penalty:    50 penalty units.

             (4)  The responsible trustee is guilty of an offence if:

                     (a)  within the 5 year period, the Regulator requests the responsible trustee to produce the declaration to the Regulator; and

                     (b)  the responsible trustee does not comply with the request.

Maximum penalty:    50 penalty units.

             (5)  Subsections (2), (3) and (4) are offences of strict liability within the meaning of section 6.1 of the Criminal Code .