SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 17 - SUSPENSION OR REMOVAL OF TRUSTEE OF SUPERANNUATION ENTITY  

SECTION 140   ACTING TRUSTEE TO NOTIFY APPOINTMENT TO BENEFICIARIES  

140(1)  
If a person is appointed under this Part to act as trustee of a superannuation entity, the person must, as soon as practicable, give each beneficiary a notice about the appointment.

140(2)  
The notice is to be in the approved form.

140(3)  


A person who, without reasonable excuse, contravenes this section commits an offence punishable on conviction by a fine not exceeding 50 penalty units.

140(3A)  


Subsection (3) is an offence of strict liability.
Note 1:

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

Note 2:

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

140(4)  
A contravention of subsection (1) does not affect the validity of the appointment.




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