Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to the following conduct:
(a) issuing superannuation interests in a public offer entity;
(b) offering to issue superannuation interests in a public offer entity;
(c) inviting the making of applications for the issue of superannuation interests in a public offer entity.
(2) The trustee of a public offer entity must not engage in conduct to which this section applies.
Penalty: Imprisonment for 5 years.
Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
(2A) Subsection (2) does not apply if:
(a) the trustee is a constitutional corporation and is an RSE licensee; and
(b) the entity is constituted by a deed as a trust.
Note: A defendant bears an evidential burden in relation to the matter in subsection (2A) (see subsection 13.3(3) of the Criminal Code ).
(3) A person, other than the trustee of a public offer entity, must not engage in conduct to which this section applies.
Penalty: Imprisonment for 5 years.
Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
(4) This section does not prevent the trustee of a public offer entity from engaging or authorising persons to act on behalf of the trustee.