Superannuation Industry (Supervision) Act 1993
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Hide history notePt 19 heading subsituted by No 123 of 2001, s 3 and Sch 1 item 328, effective 11 March 2002. The heading formerly read:
PART 19 - PUBLIC OFFER ENTITIES - PROVISIONS RELATING TO SUPERANNUATION INTERESTS AND DISCLOSURE OF INFORMATION
Div 4 repealed by No 123 of 2001, s 3 and Sch 1 item 332, effective 11 March 2002. Div 4 formerly read:
Division 4 - Stop orders
SECTION 164 ORDER TO STOP CONTRACTS ETC. FOR ISSUE OF SUPERANNUATION INTERESTS IN PUBLIC OFFER ENTITIES
164(1)
If it appears to ASIC that any of the circumstances mentioned in subsection (2) exist in respect of a regulated document in relation to a public offer entity, ASIC may, by written order (a " stop order " ) given to the trustee of the entity, direct that no contract or agreement for the issue of superannuation interests in the entity may be entered into while the stop order is in force.HistoryS 164(1) amended by No 54 of 1998.
164(2)
The circumstances are as follows:
(a) there is a material statement in the document that is false or misleading; or
(b) there is a material omission from the document.
SECTION 165 SECTION 165 WHEN A STOP ORDER IS IN FORCE
165
A stop order:
(a) comes into force when it is made, or, if a later time is specified in the order as the time when the order comes into force, at that later time; and
(b) remains in force until it is revoked under section 166.
SECTION 166 SECTION 166 REVOCATION OF STOP ORDER
166
ASIC may, in writing, revoke a stop order if ASIC is satisfied, for whatever reason, that the stop order should no longer have effect.HistoryS 166 amended by No 54 of 1998.
SECTION 167 SECTION 167 EFFECT OF STOP ORDER
167
While a stop order is in force in relation to a public offer entity, the trustee of the entity must not enter into a contract or agreement for the issue of a superannuation interest in the entity, being reckless as to whether the stop order is so in force.Penalty: Imprisonment for 2 years.
Note:
Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
HistoryS 167 substituted by No 31 of 2001, s 3 and Sch 1 item 210, effective 15 December 2001. S 167 formerly read:
SECTION 167 EFFECT OF STOP ORDER
167
While a stop order is in force in relation to a public offer entity, the trustee of the entity must not, intentionally or recklessly, enter into a contract or agreement for the issue of a superannuation interest in the entity.Penalty: Imprisonment for 2 years.
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