SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 16 - ACTUARIES AND AUDITORS OF SUPERANNUATION ENTITIES  

Division 4 - Offences and failure to carry out duties etc.  

SECTION 131C   DISQUALIFIED PERSONS NOT TO BE AUDITOR OR ACTUARY OF SUPERANNUATION ENTITIES  

131C(1)   [ Offence resulting in imprisonment]  

A person commits an offence if:


(a) the person is, or acts as, an auditor or actuary of a superannuation entity for the purposes of this Act; and


(b) either:


(i) for a person who is disqualified under section 130D - the person is disqualified from being or acting as an auditor or actuary (as the case requires) of that superannuation entity; or

(ii) the person is disqualified or suspended under section 130F from being an approved SMSF auditor; or

(iii) the person is disqualified under section 131 from being an actuary; and


(c) the person knows that he or she is so disqualified or suspended.

Penalty: Imprisonment for 2 years.

131C(2)   [ Offence of strict liability]  

A person commits an offence if:


(a) the person is, or acts as, an auditor or actuary of a superannuation entity for the purposes of this Act; and


(b) either:


(i) for a person who is disqualified under section 130D - the person is disqualified from being or acting as an auditor or actuary (as the case requires) of that superannuation entity; or

(ii) the person is disqualified or suspended under section 130F from being an approved SMSF auditor; or

(iii) the person is disqualified under section 131 from being an actuary; and


(c) the person knows that he or she is so disqualified or suspended.

Penalty: 60 penalty units.

131C(3)   [ Strict liability]  

Subsection (2) is an offence of strict liability.

Note:

For strict liability , see section 6.1 of the Criminal Code .




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