SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 20 - ADMINISTRATIVE DIRECTIONS AND PENALTIES FOR CONTRAVENTIONS RELATING TO SELF MANAGED SUPERANNUATION FUNDS  

Division 3 - Administrative penalties  

SECTION 169   JOINT AND SEVERAL LIABILITY OF DIRECTORS OF CORPORATE TRUSTEE LIABLE TO ADMINISTRATIVE PENALTY UNDER SECTION 166  

169(1)  


This section applies if a trustee of a self managed superannuation fund:


(a) is liable to an administrative penalty imposed by section 166; and


(b) is a body corporate.

169(2)  
The directors of the body corporate at the time it becomes liable to the penalty are jointly and severally liable to pay the amount of the penalty.




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