Superannuation Industry (Supervision) Act 1993
PART 2A
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LICENSING OF TRUSTEES AND GROUPS OF INDIVIDUAL TRUSTEES
A person commits an offence if:
(a) the person holds a controlling stake in an RSE licensee; and
(b) the person does not have approval under section 29HD to hold a controlling stake in the RSE licensee.
Strict liability applies to subsection (1).
Division 9
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Offences and self-incrimination
SECTION 29JCB
HOLDING A CONTROLLING STAKE IN AN RSE LICENSEE WITHOUT APPROVAL
29JCB(1)
A person commits an offence if:
(a) the person holds a controlling stake in an RSE licensee; and
(b) the person does not have approval under section 29HD to hold a controlling stake in the RSE licensee.
Penalty: 400 penalty units for each day on which the person holds a controlling stake in the RSE licensee without approval.
29JCB(2)Strict liability applies to subsection (1).
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