Superannuation Safety Amendment Act 2004 (53 of 2004)
Schedule 1 Licensing, registration and amalgamation
Part 1 Amendments commencing first
Superannuation Industry (Supervision) Act 1993
60 After section 338
Add:
338A Liability of trustees required to ensure thing occurs
A person who is a member of a group of individual trustees is not liable under any offence of strict liability or civil penalty provision of this Act or the regulations in respect of any contravention resulting from a failure by the person to ensure that a particular thing occurs if the person proves that he or she:
(a) made all inquiries (if any) that were reasonable in the circumstances; and
(b) after doing so, believed on reasonable grounds that his or her obligations were being complied with.
Note: In a prosecution for an offence of strict liability against a provision of this Act or the regulations, a defendant bears a legal burden in relation to the matters in this section (see section 13.4 of the Criminal Code).