SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 17 - SUSPENSION OR REMOVAL OF TRUSTEE OF SUPERANNUATION ENTITY  

SECTION 141   THE REGULATOR MAY GIVE DIRECTIONS TO ACTING TRUSTEE  

141(1)   [The Regulator's directions]  

If a person is appointed under this Part to act as trustee of a superannuation entity, the Regulator may give a written notice to the person directing the person to do, or not to do, one or more specified acts or things in relation to the superannuation entity.

141(2)   [Penalty]  

A person must not intentionally or recklessly contravene a direction under subsection (1).

Penalty: 100 penalty units.

Note:

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

141(3)   [Validity of transaction]  

This section does not affect the validity of a transaction entered into by a person in contravention of the notice.




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