Superannuation Industry (Supervision) Act 1993
PART 24
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ELIGIBLE ROLLOVER FUNDS
Division 2
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Authority to operate an eligible rollover fund
Subdivision D
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Trustee obligations relating to eligible rollover funds
SECTION 242M
CONTRAVENTION OF SECTION 242K OR 242L
242M(1)
A person must not contravene section 242K or 242L .
242M(2)
Subsection (1) is a civil penalty provision as defined by section 193 , and Part 21 therefore provides for civil and criminal consequences of contravening, or of being involved in a contravention of, that subsection.
242M(3)
A contravention of subsection (1) does not result in the invalidity of a transaction.
View history note
Hide history note[ CCH Note: Pt 24 has effect in relation to standard employer-sponsored funds and eligible rollover funds, and their trustees, as if it were modified by amendments to s 244 , 247 , 248 and 249 - see ISC Modification Declaration No 4 under s 244 , 247 , 248 and 249 .]
A person must not contravene section 242K or 242L .
242M(2)
Subsection (1) is a civil penalty provision as defined by section 193 , and Part 21 therefore provides for civil and criminal consequences of contravening, or of being involved in a contravention of, that subsection.
242M(3)
A contravention of subsection (1) does not result in the invalidity of a transaction.
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