Superannuation Industry (Supervision) Act 1993

PART 21 - CIVIL AND CRIMINAL CONSEQUENCES OF CONTRAVENING CIVIL PENALTY PROVISIONS  

Division 5 - Compensation for loss suffered by superannuation entity  

SECTION 215   ON APPLICATION FOR CIVIL PENALTY ORDER, COURT MAY ORDER COMPENSATION  

215(1)   [Order to pay compensation]  

If, on an application for a civil penalty order against a person in relation to a contravention, the Court is satisfied that:

(a) the person committed the contravention; and

(b) the superannuation entity in relation to which the contravention was committed has suffered loss or damage as a result of the act or omission constituting the contravention;

the Court may (whether or not it makes an order under subsection 196(3) ) order the person to pay to a trustee of the entity or, if the person is a trustee of the entity, to pay to the entity compensation of such amount as the order specifies.

215(2)   [Intervention by superannuation entity]  

A trustee of a superannuation entity may intervene in an application for a civil penalty order against a person in relation to a contravention, unless the application was made under Division 4 .

215(3)   [When entity entitled to be heard]  

A trustee of a superannuation entity that so intervenes is entitled to be heard:

(a) only if the Court is satisfied that the person committed the contravention in relation to that entity; and

(b) only on the question whether the Court should order the person to pay compensation to the trustee because of the contravention.