Superannuation Industry (Supervision) Act 1993

Pt 2B inserted by No 53 of 2004, s 3 and Sch 1 item 29, effective 1 July 2004.

Div 6 repealed by No 117 of 2012, s 3 and Sch 2 item 33, effective 9 September 2012. Div 6 formerly read:

Division 6 - Offences and self-incrimination

SECTION 29Q NOT COMPLYING WITH DIRECTION TO MODIFY RISK MANAGEMENT PLAN  
29Q(1)
An RSE licensee must comply with a direction given to it under section 29PB within the time specified in the direction.

29Q(2)
A person commits an offence if:

(a) the person is:

(i) a body corporate that is an RSE licensee; or

(ii) a member of a group of individual trustees that is an RSE licensee; and

(b) the RSE licensee is in breach of subsection (1).

Penalty: 60 penalty units.

29Q(3)
Subsection (2) is an offence of strict liability.

Note 1:

For strict liability , see section 6.1 of the Criminal Code .

Note 2:

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.

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S 29Q inserted by No 53 of 2004, s 3 and Sch 1 item 29, effective 1 July 2004.

SECTION 29QA BREACH DOES NOT AFFECT VALIDITY OF ISSUE OF SUPERANNUATION INTERESTS ETC.  
29QA
A breach of section 29Q does not affect the validity of the issue of a superannuation interest or of any other act.

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S 29QA inserted by No 53 of 2004, s 3 and Sch 1 item 29, effective 1 July 2004.

SECTION 29QB SELF INCRIMINATION  
29QB(1)
An individual is not excused from complying with a requirement under section 29LA or 29PE to give information on the ground that doing so would tend to incriminate the individual or make the individual liable to a penalty.

29QB(2)
The information given by the individual in compliance with such a requirement is not admissible in evidence against the individual in a criminal proceeding or a proceeding for the imposition of a penalty, other than a proceeding in respect of the falsity of the information, if:

(a) before giving the information, the individual claims that giving the information might tend to incriminate the individual or make the individual liable to a penalty; and

(b) giving the information might in fact tend to incriminate the individual or make the individual liable to a penalty.

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History

S 29QB inserted by No 53 of 2004, s 3 and Sch 1 item 29, effective 1 July 2004.

Div 6 inserted by No 53 of 2004, s 3 and Sch 1 item 29, effective 1 July 2004.