SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993
[ CCH Note: Pt 24 has effect in relation to standard employer-sponsored funds and eligible rollover funds, and their trustees, as if it were modified by amendments to s 244 , 247 , 248 and 249 - see ISC Modification Declaration No 4 under s 244 , 247 , 248 and 249 .]
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.
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.
For strict liability, see section 6.1 of the Criminal Code .