Superannuation Industry (Supervision) Act 1993

PART 21 - CIVIL AND CRIMINAL CONSEQUENCES OF CONTRAVENING CIVIL PENALTY PROVISIONS  

Division 5 - Compensation for loss suffered by superannuation entity  

SECTION 220A   BURDEN OF PROOF - CIVIL PROCEEDINGS RELATING TO DUTY TO ACT IN BEST FINANCIAL INTERESTS OF BENEFICIARIES  

220A(1)  
In civil proceedings for a contravention of subsection 54B(1) in relation to a covenant set out in paragraph 52(2)(c) , it is presumed that a trustee did not perform the trustee ' s duties and exercise the trustee ' s powers in the best financial interests of beneficiaries, unless the trustee adduces evidence to the contrary.

220A(2)  
If, in such proceedings:

(a)  a trustee wishes to adduce evidence to the contrary - the trustee bears an evidential burden in relation to the matter; and

(b)  in the case that evidence to the contrary is so adduced - the Regulator must prove, on the balance of probabilities, that the trustee did not perform the trustee ' s duties and exercise the trustee ' s powers in the best financial interests of beneficiaries.




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