Superannuation Industry (Supervision) Act 1993
PART 25
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MONITORING AND INVESTIGATION
Division 3
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APRA may require trustee of superannuation entity to appoint an individual, or a committee, to investigate the financial position of the entity
SECTION 260
DEADLINE FOR RECEIPT OF REPORT
260(1)
APRA ' s notice under section 257 must specify a date as the deadline for the receipt of the report.
260(2)
A person appointed to investigate and make a report under subsection 257(1) (whether as an individual or as a member of a committee) commits an offence if the report is not given to APRA:
(a) before the expiry of the deadline; or
(b) within such further time as APRA, by written notice, allows.
260(3)
A person appointed to investigate and make a report under subsection 257(1) (whether as an individual or as a member of a committee) commits an offence if the report is not given to APRA:
(a) before the expiry of the deadline; or
(b) within such further time as APRA, by written notice, allows.
View history note
Hide history noteAPRA ' s notice under section 257 must specify a date as the deadline for the receipt of the report.
260(2)
A person appointed to investigate and make a report under subsection 257(1) (whether as an individual or as a member of a committee) commits an offence if the report is not given to APRA:
(a) before the expiry of the deadline; or
(b) within such further time as APRA, by written notice, allows.
Penalty: 100 penalty units.
260(3)
A person appointed to investigate and make a report under subsection 257(1) (whether as an individual or as a member of a committee) commits an offence if the report is not given to APRA:
(a) before the expiry of the deadline; or
(b) within such further time as APRA, by written notice, allows.
This is an offence of strict liability.
Penalty: 50 penalty units.
Note 1:
Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
Note 2:
For strict liability , see section 6.1 of the Criminal Code .
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