SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 24 - ELIGIBLE ROLLOVER FUNDS  

Division 2 - Authority to operate an eligible rollover fund  

Subdivision E - Miscellaneous  

SECTION 242P   OPERATING A FUND AS AN ELIGIBLE ROLLOVER FUND WHEN NOT AUTHORISED TO DO SO  

242P(1)  
A person commits an offence if:


(a) the person makes a representation; and


(b) the representation is that a regulated superannuation fund is an eligible rollover fund; and


(c) the RSE licensee for the fund does not have authority to operate the fund as an eligible rollover fund.

Penalty: 60 penalty units.

Note:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility and Part IA of the Crimes Act 1914 contains provisions dealing with penalties.

242P(2)  
Subsection (1) is an offence of strict liability.

Note:

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




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