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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 120 Disqualified persons

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 120

Disqualified persons

Individuals

  (1)   For the purposes of this Part, an individual is a disqualified person if:

  (a)   at any time (including a time before the commencement of this section):

  (i)   the individual was convicted of an offence against or arising out of a law of the Commonwealth, a State, a Territory or a foreign country, being an offence in respect of dishonest conduct; or

  (ii)   a civil penalty order was made in relation to the person; or

  (b)   the person is an insolvent under administration; or

  (c)   either:

  (i)   to the extent that the Regulator is the Commissioner of Taxation--the Regulator has disqualified the individual under section   126A; or

  (ii)   to the extent that the Regulator is APRA--the Federal Court of Australia has disqualified the individual under section   126H.

Bodies corporate

  (2)   For the purposes of this Part, a body corporate is a disqualified person if:

  (a)   the body corporate knows, or has reasonable grounds to suspect, that a person who is, or is acting as, a responsible officer of the body corporate is:

  (i)   for a person who is a disqualified person only because he or she was disqualified under section   126H--disqualified from being or acting as a responsible officer of the body corporate; or

  (ii)   otherwise--a disqualified person; or

  (b)   a receiver, or a receiver and manager, has been appointed in respect of property beneficially owned by the body; or

  (c)   an administrator has been appointed in respect of the body; or

  (ca)   a restructuring practitioner (within the meaning of the Corporations Act 2001 ) has been appointed in respect of the body; or

  (d)   a provisional liquidator has been appointed in respect of the body; or

  (e)   the body has begun to be wound up.

Convictions

  (3)   A reference in this section to a person who has been convicted of an offence includes a reference to a person in respect of whom an order has been made under section   19B of the Crimes Act 1914 , or under a corresponding provision of a law of a State, a Territory or a foreign country, in relation to the offence.

Law on spent convictions does not apply

  (4)   Division   3 of Part   VIIC of the Crimes Act 1914 does not apply in relation to the disclosure of information about a conviction of the kind mentioned in paragraph   (1)(a), if the disclosure is for the purposes of this Part.

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