SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 303 Incorrectly keeping records etc.

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 303

  (1)   Where:

  (a)   a person who is required under this Act, the regulations or the prudential standards to keep any accounts, accounting records or other records keeps them in such a way that they do not correctly record and explain the matters, transactions, acts or operations to which they relate; or

  (b)   a person who is required under this Act, the regulations or the prudential standards to make a record of any matter, transaction, act or operation makes it in such a way that it does not correctly record the matter, transaction, act or operation;

the person commits an offence punishable on conviction by a fine not exceeding 40 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)   In a prosecution of a person for an offence against subsection   (1), it is a defence if the person proves that the person:

  (a)   did not know; and

  (b)   could not reasonably be expected to have known;

that:

  (c)   in the case of a prosecution for an offence against subsection   (1) by virtue of paragraph   (a)--the accounts, accounting records or other records to which the prosecution relates did not correctly record and explain the matters, transactions, acts or operations to which they relate; or

  (d)   in the case of a prosecution for an offence against subsection   (1) by virtue of paragraph   (b)--the record to which the prosecution relates did not correctly record the matter, transaction, act or operation to which the record relates.

Note:   A defendant bears a legal burden in relation to the matters in subsection   (2) (see section   13.4 of the Criminal Code ).