Retirement Savings Accounts Act 1997

PART 4 - OPERATING STANDARDS ETC. AND ANNUAL RETURNS FOR RSAs  

Division 2 - Operating standards  

SECTION 39   PRESCRIBED OPERATING STANDARDS MUST BE COMPLIED WITH  

39(1)   Standards must be complied with.  

An RSA provider must ensure that the prescribed standards applicable to the operation of the RSA provider are complied with at all times.

39(2)   Offence.  

A person who intentionally or recklessly contravenes subsection (1) commits an offence punishable on conviction by a fine not exceeding 100 penalty units.

Note:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

39(3)   Validity of transaction not affected by contravention of subsection (1).  

A contravention of subsection (1) does not affect the validity of a transaction.