SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 140 Acting trustee to notify appointment to beneficiaries
SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 140
Acting trustee to notify appointment to beneficiaries(1) If a person is appointed under this Part to act as trustee of a superannuation entity, the person must, as soon as practicable, give each beneficiary a notice about the appointment.
(2) The notice is to be in the approved form.
(3) A person who, without reasonable excuse, contravenes this section commits an offence punishable on conviction by a fine not exceeding 50 penalty units.
(3A) Subsection (3) 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 .
(4) A contravention of subsection (1) does not affect the
validity of the appointment.