Superannuation Industry (Supervision) Act 1993

PART 8 - IN-HOUSE ASSET RULES APPLYING TO REGULATED SUPERANNUATION FUNDS  

Division 4 - Enforcement  

SECTION 84   IN-HOUSE ASSET RULES MUST BE COMPLIED WITH  

84(1)    

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Each trustee of a regulated superannuation fund must take all reasonable steps to ensure that the provisions of Division 2 , and either Division 3 or 3A (whichever is applicable), are complied with.

Note:

Section 166 imposes an administrative penalty for a contravention of subsection (1) in relation to a self managed superannuation fund.

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History

S 84(1) amended by No 11 of 2014, s 3 and Sch 2 item 12, by inserting a note at the end, applicable to contraventions that occur on or after 1 July 2014.

S 84(1) amended by No 53 of 2004, s 3 and Sch 2 item 114, by substituting " Each trustee " for " The trustee " , effective 1 July 2004.

S 84(1) amended by No 38 of 1999.

84(2)    
Subsection (1) is a civil penalty provision as defined by section 193 , and Part 21 therefore provides for civil and criminal consequences of contravening, or of being involved in a contravention of, that subsection.

84(3)    
A contravention of subsection (1) does not affect the validity of a transaction.

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