SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 No. 78, 1993 - SECT 153 Trustee must not issue interests, or permit persons to become standard employer-sponsors, except pursuant to applications

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 No. 78, 1993 - SECT 153

153.(1) The trustee of a public offer entity must not, intentionally or
recklessly, issue a superannuation interest in the entity to a person except
pursuant to an application made to the trustee by the person, or by a standard
employer-sponsor of the entity on the person's behalf. Penalty: 100 penalty
units.

(2) The trustee of a public offer entity must not, intentionally or
recklessly, permit a person to become a standard employer-sponsor of the
entity except pursuant to an application made by the person to the trustee.
Penalty: 100 penalty units.