Superannuation Industry (Supervision) Legislation Amendment Act 1995 (144 of 1995)
Schedule 4 AMENDMENTS OF THE SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993
48 After subsection 120(2)
Insert:
"(2A) This subsection applies if:
(a) the body corporate knows, or has reasonable grounds to suspect, that a person who is, or is acting as, a responsible officer of the body corporate is a disqualified person; and
(b) the body corporate knows, or has reasonable grounds to suspect, that:
(i) the person is not eligible under subsection 126B(1) to apply to the Commissioner for a declaration waiving his or her status as a disqualified person; or
(ii) the person is so eligible but will not make an application under subsection 126B(3) within the period allowed for the purpose.".
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