Commonwealth Numbered Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 No. 78, 1993 - SECT 152

152.(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, intentionally or
recklessly, engage in conduct to which this section applies unless:

   (a)  the trustee is an approved trustee and is the only trustee of the
        entity; and

   (b)  the entity is constituted by a deed as a trust. Penalty: Imprisonment
        for 5 years.

(3) A person, other than the trustee of a public offer entity, must not,
intentionally or recklessly, engage in conduct to which this section applies.
Penalty: Imprisonment for 5 years.

(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.