Superannuation Industry (Supervision) Act 1993

Pt 31 repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007.

Div 2 repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007.

Subdiv C repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007.

S 364 repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007. S 364 formerly read:

SECTION 364 ACTION TO BE TAKEN BY EXISTING MANAGEMENT COMPANY ON RECEIPT OF NOTICE UNDER SECTION 363  
364(1)
If the existing management company receives a notice under section 363 , the existing management company must take action under subsection (2) or (3) within 2 months after receiving the notice.

364(2)
Subject to section 367 , the existing management company may retire from the office of management company of the Part 31 entity, and refuse to be appointed as its trustee, by giving written notice to APRA.

 View history note

 Hide history note

History

S 364(2) amended by No 54 of 1998.

364(3)
Subject to section 367 , the existing management company may retire from the office of management company of the Part 31 entity, and agree to being appointed as its trustee, by giving written notice to APRA.

 View history note

 Hide history note

History

S 364(3) amended by No 54 of 1998.

364(4)
The existing management company must not intentionally or recklessly contravene subsection (1).

Penalty: 250 penalty units.

Note:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

 View history note

 Hide history note

History

S 364(4) amended by No 31 of 2001, s 3 and Sch 1 item 236, by inserting the note at the end, effective 15 December 2001.