S 121 repealed by No 25 of 2008, s 3 and Sch 1 item 52, effective 26 May 2008. S 121 formerly read:
SECTION 121 DISQUALIFIED PERSONS NOT TO BE TRUSTEES OF SUPERANNUATION ENTITIES
121(1)
A person must not intentionally be, or act as, a trustee of a superannuation entity if the person is, and knows that the person is, a disqualified person.
Penalty: Imprisonment for 2 years.
121(2)
A person must not intentionally be, or act as, a responsible officer of a body corporate that is a trustee of a superannuation entity if the person is, and knows that the person is, a disqualified person.
Penalty: Imprisonment for 2 years.
History
S 121(2) substituted by No 144 of 1995.
121(3)
If a trustee of a superannuation entity is or becomes a disqualified person, the trustee must immediately tell the Regulator in writing.
Penalty for a contravention of this subsection: 50 penalty units.
History
S 121(3) amended by No 121 of 1999, s 3 and Sch 1 item 81, by substituting
"
the Regulator
"
for
"
APRA
"
, effective 8 October 1999. For transitional and saving provisions, see the history note under the heading to Pt
24B
.
S 121(3) amended by No 54 of 1998.
121(4)
Subsection (3) is an offence of strict liability.
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
.
History
S 121(4) inserted by No 160 of 2000, s 3 and Sch 3 item 81, effective 18 January 2001.
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