Superannuation Industry (Supervision) Act 1993

S 133(1) amended by No 40 of 2019, s 3 and Sch 4 item 11, by inserting para (f) and (g), effective 5 July 2019. For application and transitional provisions, see note under Pt 2A Div 8 heading.

S 133(1) amended by No 25 of 2008, s 3 and Sch 1 item 68, by substituting para (a), effective 26 May 2008. Para (a) formerly read:

(a) the trustee is a disqualified person within the meaning of Part 15 ; or

S 133(1) amended by No 53 of 2004, s 3 and Sch 1 item 80, by substituting para (c) for paras (c) and (d), effective 1 July 2006. Paras (c) and (d) formerly read:

(c) the Regulator:

(i) under section 28 , revokes the approval of the trustee; or

(ii) under section 29G , cancels the RSE licence that enables the trustee to be a trustee of that entity; or

(d) if the superannuation entity is a superannuation fund with fewer than 5 members (other than a self managed superannuation fund) - the trustee is required by subsection 121A(1) to be, but is not, an approved trustee or an RSE licensee that is a constitutional corporation; or

S 133(1) substituted by No 53 of 2004, s 3 and Sch 1 item 57, effective 1 July 2004. S 133(1) formerly read:

133(1) Suspension or removal.  

The Regulator may suspend or remove the trustee, or all of the trustees, of a superannuation entity if:

(a) the trustee, or any of the trustees, is a disqualified person within the meaning of Part 15 ; or

(b) it appears to the Regulator that conduct that has been, is being, or is proposed to be, engaged in by the trustee or any of the trustees may result in the financial position of the entity or of any other superannuation entity becoming unsatisfactory; or

(c) the Regulator, under section 28 , revokes the approval of the trustee, or any of the trustees;

(d) where the superannuation entity is a superannuation fund with fewer than 5 members (other than a self managed superannuation fund) - the trustee is required by subsection 121A(1) to be, but is not, an approved trustee.

S 133(1) amended by No 37 of 2002, s 3 and Sch 8 item 5, by substituting " is required by subsection 121A(1) to be, but is not, an approved trustee " for " is not an approved trustee " in para (d), effective 27 June 2002.

S 133(1) amended by No 121 of 1999, s 3 and Sch 1 items 54, 95 and 96, by inserting para (d), effective 1 April 2000, and by substituting " The Regulator " for " APRA " (first occurring) and " the Regulator " for " APRA " (wherever occurring) in paras (b) and (c), effective 8 October 1999. For transitional and saving provisions, see the history note under the heading to Pt 24B .

S 133(1) amended by No 54 of 1998.

S 133(2) amended by No 121 of 1999, s 3 and Sch 1 item 97, 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 133(2) amended by No 54 of 1998.

S 133(3) amended by No 121 of 1999, s 3 and Sch 1 item 97, 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 133(3) amended by No 54 of 1998.

S 133(4) amended by No 121 of 1999, s 3 and Sch 1 item 97, by substituting " the Regulator " for " APRA " (wherever occurring), effective 8 October 1999. For transitional and saving provisions, see the history note under the heading to Pt 24B .

S 133(4) amended by No 54 of 1998.

S 133(5) repealed by No 25 of 2008, s 3 and Sch 3 item 35, effective 26 May 2008. S 133(5) formerly read:

133(5) Written consent of the Minister.  

The Regulator must not make either of the following decisions without the written consent of the Minister:

(a) a decision to suspend or remove a trustee;

(b) a decision to extend the suspension of a trustee.

S 133(5) amended by No 121 of 1999, s 3 and Sch 1 item 98, 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 133(5) amended by No 54 of 1998.