SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 25 - MONITORING AND INVESTIGATION  

Division 3 - APRA may require trustee of superannuation entity to appoint an individual, or a committee, to investigate the financial position of the entity  

SECTION 260   DEADLINE FOR RECEIPT OF REPORT  

260(1)  
APRA ' s notice under section 257 must specify a date as the deadline for the receipt of the report.

260(2)  


A person appointed to investigate and make a report under subsection 257(1) (whether as an individual or as a member of a committee) commits an offence if the report is not given to APRA:


(a) before the expiry of the deadline; or


(b) within such further time as APRA, by written notice, allows.

Penalty: 100 penalty units.

260(3)  


A person appointed to investigate and make a report under subsection 257(1) (whether as an individual or as a member of a committee) commits an offence if the report is not given to APRA:


(a) before the expiry of the deadline; or


(b) within such further time as APRA, by written notice, allows.

This is an offence of strict liability.

Penalty: 50 penalty units.

Note 1:

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

Note 2:

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




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