Superannuation Industry (Supervision) Act 1993
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.
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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