SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 218 Recovery of profits, and compensation for loss, resulting from contravention

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 218

  (1)   If a civil penalty provision in relation to a superannuation entity is contravened by a person other than a trustee of the entity, a trustee of the entity may, by proceedings in a court of competent jurisdiction, recover from the person, as a debt due to the trustee:

  (a)   if that or another person has made a profit because of the act or omission constituting the contravention--an amount equal to the amount of that profit; and

  (b)   if the entity has suffered loss or damage as a result of that act or omission--an amount equal to the amount of that loss or damage;

whether or not:

  (c)   the first - mentioned person has been convicted of an offence in relation to the contravention; or

  (d)   a civil penalty order has been made against the first - mentioned person in relation to the contravention.

  (2)   Proceedings under this section may only be begun within 6 years after the contravention.