Retirement Savings Accounts Act 1997
An RSA provider must ensure that payments and information relating to a holder of an RSA, or a person for whose benefit a contribution to the RSA is to be made, are dealt with in a manner that complies with any applicable:
(a) regulations made under this Part; and
(b) data and payment standards relating to RSAs.
A person commits an offence of strict liability if the person contravenes subsection (1).
Penalty: 20 penalty units.
For offences of strict liability, see subsection 6.1(1) of the Criminal Code .45D(3)
A contravention of subsection (1) does not affect the validity of a transaction.
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