Commonwealth Consolidated Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 11C

  (1)   This section applies if:

  (a)   the Regulator is given an approved form in a way that is required or permitted as mentioned in paragraph   11A(3)(b); and

  (b)   the form is given to the Regulator by a person on behalf of the trustee, or one or more of the trustees, of a superannuation entity.

In this section, the trustee, or each of the trustees, on whose behalf the form is given is referred to as the responsible trustee .

  (2)   The responsible trustee commits an offence if the responsible trustee does not, before the form is given to the Regulator, make a signed declaration that states that:

  (a)   the person is authorised to give the form to the Regulator on the responsible trustee's behalf; and

  (b)   the information in the form is correct.

Penalty:   50 penalty units.

  (3)   The responsible trustee commits an offence if the responsible trustee does not retain the declaration for 5 years after it is made.

Penalty:   50 penalty units.

  (4)   The responsible trustee commits an offence if:

  (a)   within the 5 year period, the Regulator requests the responsible trustee to produce the declaration to the Regulator; and

  (b)   the responsible trustee does not comply with the request.

Penalty:   50 penalty units.

  (5)   Subsections   (2), (3) and (4) are offences of strict liability within the meaning of section   6.1 of the Criminal Code .