Superannuation Industry (Supervision) Act 1993

PART 15 - STANDARDS FOR TRUSTEES, CUSTODIANS AND INVESTMENT MANAGERS OF SUPERANNUATION ENTITIES  

Division 1 - Object of Part and definition of disqualified person  

SECTION 120   DISQUALIFIED PERSONS  

120(1)   Individuals.  

For the purposes of this Part, an individual is a disqualified person if:

(a)  at any time (including a time before the commencement of this section):


(i) the individual was convicted of an offence against or arising out of a law of the Commonwealth, a State, a Territory or a foreign country, being an offence in respect of dishonest conduct; or

(ii) a civil penalty order was made in relation to the person; or

(b)  the person is an insolvent under administration; or

(c)  

either:

(i) to the extent that the Regulator is the Commissioner of Taxation - the Regulator has disqualified the individual under section 126A ; or

(ii) to the extent that the Regulator is APRA - the Federal Court of Australia has disqualified the individual under section 126H .

120(2)   Bodies corporate.  

For the purposes of this Part, a body corporate is a disqualified person if:

(a)  

the body corporate knows, or has reasonable grounds to suspect, that a person who is, or is acting as, a responsible officer of the body corporate is:

(i) for a person who is a disqualified person only because he or she was disqualified under section 126H - disqualified from being or acting as a responsible officer of the body corporate; or

(ii) otherwise - a disqualified person; or

(b)  a receiver, or a receiver and manager, has been appointed in respect of property beneficially owned by the body; or

(c)  

an administrator has been appointed in respect of the body; or

(ca)  

a restructuring practitioner (within the meaning of the Corporations Act 2001 ) has been appointed in respect of the body; or

(d)  a provisional liquidator has been appointed in respect of the body; or

(e)  the body has begun to be wound up.

120(2A)  
(Repealed by No 25 of 2008)

120(3)   Convictions.  

A reference in this section to a person who has been convicted of an offence includes a reference to a person in respect of whom an order has been made under section 19B of the Crimes Act 1914 , or under a corresponding provision of a law of a State, a Territory or a foreign country, in relation to the offence.

120(4)   Law on spent convictions does not apply.  

Division 3 of Part VIIC of the Crimes Act 1914 does not apply in relation to the disclosure of information about a conviction of the kind mentioned in paragraph (1)(a) , if the disclosure is for the purposes of this Part.




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