Superannuation Industry (Supervision) Act 1993
PART 25A
-
TAX FILE NUMBERS
Division 5
-
General
SECTION 299Y
TRUSTEE OF FORMER REGULATED EXEMPT PUBLIC SECTOR SUPERANNUATION SCHEME TO DESTROY RECORDS OF TAX FILE NUMBERS
299Y(1)
If an exempt public sector superannuation scheme ceases to be a regulated exempt public sector superannuation scheme and does not become an eligible superannuation entity, each trustee of the scheme must ensure that, as soon as is reasonably practicable, all records of tax file numbers of beneficiaries, or of applicants to become beneficiaries, of the scheme that are kept by the trustee are destroyed.
299Y(2)
A trustee commits an offence if the trustee contravenes subsection (1).
299Y(3)
A trustee commits an offence if the trustee contravenes subsection (1). This is an offence of strict liability.
View history note
Hide history noteIf an exempt public sector superannuation scheme ceases to be a regulated exempt public sector superannuation scheme and does not become an eligible superannuation entity, each trustee of the scheme must ensure that, as soon as is reasonably practicable, all records of tax file numbers of beneficiaries, or of applicants to become beneficiaries, of the scheme that are kept by the trustee are destroyed.
299Y(2)
A trustee commits an offence if the trustee contravenes subsection (1).
Penalty: 100 penalty units.
299Y(3)
A trustee commits an offence if the trustee contravenes subsection (1). This is an offence of strict liability.
Penalty: 50 penalty units.
Note 1:
Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
Note 2:
For strict liability , see section 6.1 of the Criminal Code .
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.