SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

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

Division 3 - Disqualified persons  

Subdivision A - Disqualification by the Commissioner of Taxation  

SECTION 126B   APPLICATION FOR WAIVER OF DISQUALIFIED STATUS  

126B(1)   [Conditions for application]  

An individual may apply to the Regulator for a declaration under section 126D waiving his or her status as a disqualified person for the purposes of this Part only if:


(a) he or she is a disqualified person solely because of the operation of subparagraph 120(1)(a)(i) ; and


(b) the offence leading to him or her being a disqualified person is not an offence involving serious dishonest conduct as described in subsection (2).

126B(2)   [Offence involving serious dishonest conduct]  

For the purposes of paragraph (1)(b), an offence involves serious dishonest conduct if the penalty actually imposed for the offence is:


(a) a term of imprisonment of at least 2 years or such longer period (if any) as is specified in the regulations; or


(b) a fine of at least 120 penalty units or such larger fine, if any, as is specified in the regulations.

126B(3)   [Form and manner of application]  

An application must:


(a) be in writing; and


(b) be made within 14 days after the commencement of this subsection or the person's conviction, whichever is the later; and


(c) identify the offence to which the application relates; and


(d) to the extent that the court documents relating to the offence exist - be accompanied by a copy, certified to be a true copy by the Clerk or Registrar of the court, of those documents; and


(e) give consent to the Regulator making inquiries in relation to the applicant of any law enforcement agency, regulatory agency or court that the Regulator believes on reasonable grounds has in its possession or control information directly relevant to the Regulator's consideration of the application; and


(f) be signed by the applicant.

126B(4)   [Application made after period prescribed]  

The Regulator may accept an application meeting conditions referred to in subsection (3) other than paragraph (3)(b) after the end of the period referred to in that paragraph only if the Regulator is satisfied that there are exceptional circumstances that prevented the application from being made within that period.

126B(5)   [Court documents]  

The court documents are:


(a) the information or indictment against the applicant; and


(b) the transcript of the proceedings; and


(c) witness statements and affidavits; and


(d) the court's judgment and orders; and


(e) the court's reasons for judgment.

126B(6)   [Application not accompanied by court documents]  

If an individual is not reasonably able to obtain some or all of the court documents referred to in subsection (5), he or she:


(a) may make an application that is not accompanied by those documents; and


(b) must give the Regulator those documents as soon as practicable after making the application.

126B(7)   [Notification of inquiries]  

The Regulator must notify the applicant of any police force, agency or court of which the Regulator intends to make inquiries.

126B(8)   [When notification should be made]  

Such notification should if possible be given to the applicant as soon as practicable after a decision has been made to approach that police force, agency or court.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.