Superannuation Industry (Supervision) Act 1993
Each trustee of a superannuation entity must ensure that the prescribed standards applicable to the operation of the entity are complied with at all times.
Note:
Section 166 imposes an administrative penalty for a contravention of subsection (1) in relation to a self managed superannuation fund.
A person who intentionally or recklessly contravenes subsection (1) commits an offence punishable on conviction by a fine not exceeding 100 penalty units.
Note:
Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
A contravention of subsection (1) does not affect the validity of a transaction.
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