Retirement Savings Accounts Act 1997

PART 7 - PROHIBITED CONDUCT IN RELATION TO RSAs  

SECTION 78   IMPROPER CONDUCT IN THE PROVISION OF RSAs  

78(1)   [Prohibited conduct]  

An RSA provider, or an associate of an RSA provider, must not:

(a) supply, or offer to supply, goods or services to a person; or

(b) supply, or offer to supply, goods or services to a person at a particular price; or

(c) give or allow, or offer to give or allow, a discount, allowance, rebate or credit in relation to the supply, or the proposed supply, of goods or services to a person;

on the condition that one or more of the employees of the person will hold, or has applied or agreed to hold, an RSA provided by the RSA provider.

78(1A)   [Prescribed ``supply'']  

However, subsection (1) does not apply in relation to a supply, or offer to supply, of a kind prescribed in the regulations for the purposes of this subsection.

78(2)   [Prohibited refusal]  

An RSA provider, or an associate of an RSA provider, must not refuse:

(a) to supply, or offer to supply, goods or services to a person; or

(b) to supply, or offer to supply, goods or services to a person at a particular price; or

(c) to give or allow, or offer to give or allow, a discount, allowance, rebate or credit in relation to the supply, or the proposed supply, of goods or services to a person;

for the reason that one or more of the employees of the person does not hold, or has not applied or agreed to hold, an RSA provided by the RSA provider.

78(2A)   [Prescribed ``supply'']  

However, subsection (2) does not apply in relation to a supply, or offer to supply, of a kind prescribed in the regulations for the purposes of this subsection.

78(3)   [Civil liability]  

A contravention of subsection (1) or (2) is not an offence, but it does give rise to civil liability under section 74 .