SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 16 - ACTUARIES AND AUDITORS OF SUPERANNUATION ENTITIES  

Division 2 - Obligations of actuaries and auditors  

SECTION 130BB   GIVING FALSE OR MISLEADING INFORMATION TO AUDITOR  

130BB(1)   Offence - person knows the information is false or misleading etc.  

A person commits an offence if:


(a) the person is:


(i) the trustee of a superannuation entity; or

(ii) a responsible officer of the trustee of a superannuation entity; or

(iii) an employee of the trustee of a superannuation entity; and


(b) the person gives information, or allows information to be given, to an auditor of the superannuation entity; and


(c) the information relates to the affairs of the superannuation entity; and


(d) the person knows that the information:


(i) is false or misleading in a material particular; or

(ii) is missing something that makes the information misleading in a material respect.

Penalty: Imprisonment for 5 years or 200 penalty units, or both.

130BB(2)   Offence - person fails to ensure the information is not false or misleading etc.  

A person commits an offence if:


(a) the person is:


(i) the trustee of a superannuation entity; or

(ii) a responsible officer of the trustee of a superannuation entity; or

(iii) an employee of the trustee of a superannuation entity; and


(b) the person gives information, or allows information to be given, to an auditor of the superannuation entity; and


(c) the information relates to the affairs of the superannuation entity; and


(d) the information:


(i) is false or misleading in a material particular; or

(ii) is missing something that makes the information misleading in a material respect; and


(e) the person did not take reasonable steps to ensure that the information:


(i) was not false or misleading in a material particular; or

(ii) was not missing something that makes the information misleading in a material respect.

Penalty: Imprisonment for 2 years or 100 penalty units, or both.

130BB(3)   Determining whether information is false or misleading.  

If information is given to the auditor in response to a question asked by the auditor, the information and the question must be considered together in determining whether the information is false or misleading.




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