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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 15 - STANDARDS FOR TRUSTEES, CUSTODIANS AND INVESTMENT MANAGERS OF SUPERANNUATION ENTITIES  

Division 1 - Object of Part and definition of disqualified person    View history reference

SECTION 120  DISQUALIFIED PERSONS  

120(1)  Individuals.  


For the purposes of this Part, an individual is a disqualified person if:


(a) at any time (including a time before the commencement of this section):


(i) the individual was convicted of an offence against or arising out of a law of the Commonwealth, a State, a Territory or a foreign country, being an offence in respect of dishonest conduct; or

(ii) a civil penalty order was made in relation to the person; or


(b) the person is an insolvent under administration; or


(c) either:

(i) to the extent that the Regulator is the Commissioner of Taxation - the Regulator has disqualified the individual under section 126A ; or

(ii) to the extent that the Regulator is APRA - the Federal Court of Australia has disqualified the individual under section 126H .
 View history reference

120(2)  Bodies corporate.  


For the purposes of this Part, a body corporate is a disqualified person 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:

(i) for a person who is a disqualified person only because he or she was disqualified under section 126H - disqualified from being or acting as a responsible officer of the body corporate; or

(ii) otherwise - a disqualified person; or
 View history reference


(b) a receiver, or a receiver and manager, has been appointed in respect of property beneficially owned by the body; or


(c) an administrator has been appointed in respect of the body; or
 View history reference


(d) a provisional liquidator has been appointed in respect of the body; or


(e) the body has begun to be wound up.

120(2A)  

(Repealed by No 25 of 2008)

120(3)  Convictions.  


A reference in this section to a person who has been convicted of an offence includes a reference to a person in respect of whom an order has been made under section 19B of the Crimes Act 1914 , or under a corresponding provision of a law of a State, a Territory or a foreign country, in relation to the offence.

120(4)  Law on spent convictions does not apply.  


Division 3 of Part VIIC of the Crimes Act 1914 does not apply in relation to the disclosure of information about a conviction of the kind mentioned in paragraph (1)(a), if the disclosure is for the purposes of this Part.

 



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