Superannuation Industry (Supervision) Act 1993

PART 2A - LICENSING OF TRUSTEES AND GROUPS OF INDIVIDUAL TRUSTEES  

Division 9 - Offences and self-incrimination  

SECTION 29J   BEING TRUSTEE OF A REGISTRABLE SUPERANNUATION ENTITY WHILE UNLICENSED ETC.  

29J(1)   [Licence requirements]  

A person must not be a trustee, or act as a trustee, of a registrable superannuation entity unless at least one of the following paragraphs apply:

(a) the person holds an RSE licence that enables the person to be the trustee of the entity;

(b) the person is a member of a group of individual trustees that holds an RSE licence that enables the members of the group to each be a trustee of the entity.

(c) (Repealed by No 53 of 2004)

(d) (Repealed by No 53 of 2004)

(e) (Repealed by No 53 of 2004)

29J(2)   [Evidential burden]  

Despite subsection 13.3(3) of the Criminal Code , a defendant does not bear an evidential burden in relation to any matter in subsection (1) of this section.

29J(3)   [Offence]  

A person that contravenes subsection (1) commits an offence.

Penalty: Imprisonment for 2 years, or 120 penalty units, or both.

Note:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility and Part IA of the Crimes Act 1914 contains provisions dealing with penalties.

29J(4)   [Bodies corporate]  

A person must not be a trustee of a registrable superannuation entity, or act as a trustee of a registrable superannuation entity, if the person:

(a) is a body corporate; and

(b) is not the only trustee of the registrable superannuation entity.

29J(5)   [Offence]  

A person that contravenes subsection (4) commits an offence.

Penalty: Imprisonment for 2 years, or 120 penalty units, or both.

Note:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility and Part IA of the Crimes Act 1914 contains provisions dealing with penalties.

29J(6)   [Authorisations, etc]  

This section does not prevent an RSE licensee from engaging or authorising persons to act on its behalf.