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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 2A - LICENSING OF TRUSTEES AND GROUPS OF INDIVIDUAL TRUSTEES    View history reference

Division 9 - Offences and self-incrimination    View history reference

SECTION 29J  BEING TRUSTEE OF A REGISTRABLE SUPERANNUATION ENTITY WHILE UNLICENSED ETC.  

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29J(1)  [Licence requirements]  

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A person must not be a trustee, or act as a trustee, of a registrable superannuation entity unless at least one of the following paragraphs apply:


(a) the person holds an RSE licence that enables the person to be the trustee of the entity;


(b) the person is a member of a group of individual trustees that holds an RSE licence that enables the members of the group to each be a trustee of the entity.
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(c) (Repealed by No 53 of 2004)
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(d) (Repealed by No 53 of 2004)
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(e) (Repealed by No 53 of 2004)
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29J(2)  [Evidential burden]  


Despite subsection 13.3(3) of the Criminal Code , a defendant does not bear an evidential burden in relation to any matter in subsection (1) of this section.

29J(3)  [Offence]  


A person that contravenes subsection (1) commits an offence.

Penalty: Imprisonment for 2 years, or 120 penalty units, or both.

Note:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility and Part IA of the Crimes Act 1914 contains provisions dealing with penalties.

29J(4)  [Bodies corporate]  


A person must not be a trustee of a registrable superannuation entity, or act as a trustee of a registrable superannuation entity, if the person:


(a) is a body corporate; and


(b) is not the only trustee of the registrable superannuation entity.

29J(5)  [Offence]  


A person that contravenes subsection (4) commits an offence.

Penalty: Imprisonment for 2 years, or 120 penalty units, or both.

Note:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility and Part IA of the Crimes Act 1914 contains provisions dealing with penalties.

29J(6)  [Authorisations, etc]  


This section does not prevent an RSE licensee from engaging or authorising persons to act on its behalf.


 



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