Commonwealth Consolidated Acts Commonwealth Consolidated ActsNotice may be given
(1) APRA or the Commissioner of Taxation may give a written notice under this section to a trustee of a regulated superannuation fund if APRA or the Commissioner of Taxation, as the case requires, considers that the fund has no more than 6 members.
Information that may be requested
(2) The notice may require each trustee of the fund, within a specified period (which must not be shorter than 21 days), to ensure that APRA or the Commissioner of Taxation is informed:
(a) whether or not the fund was a self managed superannuation fund as at the date (the response date ) on which APRA or the Commissioner of Taxation was so informed; or
(b) if the fund was not a self managed superannuation fund as at the response date--whether the trustee, or the trustees, of the fund consider that the fund is likely to become a self managed superannuation fund within the period specified in the notice; and
(c) if the fund was a self managed superannuation fund as at the response date--whether the trustee, or the trustees, of the fund consider that the fund is likely to cease to be a self managed superannuation fund within the period specified in the notice.
Offence
(3) A person who contravenes subsection (2) commits an offence punishable on conviction by a fine not exceeding 50 penalty units.
Strict liability
(4) An offence under subsection (3) is an offence of strict liability.