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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 29PD

Obligation on auditor to answer questions

  (1)   This section applies if:

  (a)   a person is required by subsection   29P(3) or (3A) to attend an annual members' meeting for a registrable superannuation entity for a year of income of the entity; and

  (b)   a member of the entity asks the person a question at the meeting.

  (2)   The person must answer the question at the meeting or, if it is not reasonably practicable to do so, within 1 month after the meeting.

Penalty:   50 penalty units.

  (3)   Subsection   (2) does not apply:

  (a)   if the question is not relevant to:

  (i)   an action, or failure to act, by the RSE licensee in relation to the registrable superannuation entity or one or more members of the registrable superannuation entity; or

  (ii)   the registrable superannuation entity; or

  (iii)   an audit of the registrable superannuation entity carried out by the individual RSE auditor, the RSE audit firm or the RSE audit company, as the case may be; or

  (iv)   any matter that might reasonably be expected to be apparent to the auditor of the entity in relation to the entity; or

  (b)   if it would be in breach of the governing rules of the registrable superannuation entity, this Act or any other law to answer the question; or

  (c)   if answering the question would result in detriment to the members of the registrable superannuation entity, taken as a whole; or

  (d)   in any other circumstances prescribed by the regulations.



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