PART 25
-
MONITORING AND INVESTIGATION
History
Pt 25 heading substituted by No 158 of 2012, s 3 and Sch 2 item 41, effective 31 January 2013. For application provisions see note under Pt 16 Div
1A
heading. The heading formerly read:
PART 25
-
MONITORING AND INVESTIGATING SUPERANNUATION ENTITIES
Division 2
-
Monitoring
History
Div 2 heading substituted by No 158 of 2012, s 3 and Sch 2 item 47, effective 31 January 2013. For application provisions see note under Pt 16 Div
1A
heading. The heading formerly read:
Division 2
-
Monitoring superannuation entities
SECTION 255
REGULATOR MAY REQUIRE PRODUCTION OF BOOKS
255(1)
For the purposes of this Act, the Regulator or an authorised person may, by written notice to:
(a)
a relevant person in relation to a superannuation entity or approved SMSF auditor; or
(b)
a relevant person in relation to an audit of a self managed superannuation fund; or
(c)
a contributing employer;
require the relevant person, or the contributing employer, to produce to the Regulator or an authorised person, at such reasonable time and reasonable place as are specified in a notice, any books relating to the affairs of the entity, auditor or audit, or to the obligations of the contributing employer under Part
3B
.
History
S 255(1) amended by No 158 of 2012, s 3 and Sch 4 items 12
-
15, by inserting
"
or
"
at the end of para (b), inserting para (c), substituting
"
require the relevant person, or the contributing employer,
"
for
"
require the relevant person
"
and inserting
"
, or to the obligations of the contributing employer under Part 3B
"
at the end, effective 31 January 2013.
S 255(1) substituted by No 158 of 2012, s 3 and Sch 2 item 48, effective 31 January 2013. For application provisions see note under Pt 16 Div
1A
heading. S 255(1) formerly read:
255(1)
For the purposes of this Act, the Regulator or an authorised person may by written notice to a relevant person in relation to a superannuation entity, require the relevant person to produce to the Regulator or an authorised person, at such reasonable time and reasonable place as are specified in a notice, any books relating to the affairs of the entity.
S 255(1) amended by No 54 of 1998.
255(2)
[Books to be in English language]
If any book produced to the Regulator or an authorised person under subsection (1) is not in writing in the English language, the Regulator or an authorised person may require the relevant person to produce to the Regulator or an authorised person a version of the book that is in writing in the English language.
History
S 255(2) amended by No 54 of 1998.
255(3)
[Copies or extracts of books]
The Regulator or an authorised person may inspect, take extracts from and make copies of any book, or of any version of any book, produced to the Regulator or an authorised person under this section.
History
S 255(3) amended by No 54 of 1998.
255(4)
The powers of the Regulator or an authorised person under this section may be exercised in relation to a superannuation entity or an approved SMSF auditor, or in relation to an audit of a self managed superannuation fund, even though an investigation is being conducted, under section
263
, of:
(a)
the whole or a part of the affairs of the entity or auditor; or
(b)
the whole or a part of the conduct of the audit.
History
S 255(4) substituted by No 158 of 2012, s 3 and Sch 2 item 49, effective 31 January 2013. For application provisions see note under Pt 16 Div
1A
heading. S 255(4) formerly read:
255(4)
The powers of the Regulator or an authorised person under this section may be exercised in relation to a superannuation entity even though an investigation of the whole or a part of the affairs of the entity is being conducted under section
263
.
S 255(4) amended by No 54 of 1998, inserted by No 38 of 1999.
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