Superannuation Legislation Amendment (Choice of Superannuation Funds) Act 2004 (102 of 2004)

Schedule 1   Choice of superannuation funds

Superannuation Industry (Supervision) Act 1993

23   At the end of Part 7

Add:

68A Conduct relating to fund membership

(1) A trustee of a regulated superannuation fund, or an associate of a trustee of a regulated superannuation fund, 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 be, or will apply or agree to be, members of the fund.

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

(3) A trustee of a regulated superannuation fund, or an associate of a trustee of a regulated superannuation fund, 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 are not, or have not applied or agreed to be, members of the fund.

(4) However, subsection (3) does not apply in relation to a supply of a kind prescribed in the regulations for the purposes of this subsection.

Civil liability

(5) If:

(a) a person (the offender ) contravenes subsection (1) or (3); and

(b) another person (the victim ) suffers loss or damage because of the contravention;

the victim may recover the amount of the loss or damage by action against the offender.

(6) The action must be begun within 6 years after the day on which the cause of action arose.

(7) This section does not affect any liability that the offender or another person has under any other provision of this Act or under any other law.