Treasury Laws Amendment (2022 Measures No. 4) Act 2023 (29 of 2023)

Schedule 6   Financial reporting and auditing requirements for superannuation entities

Part 2   Amendments of other Acts

Superannuation Industry (Supervision) Act 1993

263   After section 131B

Insert:

131BA Misleading representations by disqualified firm or company

(1) A person commits an offence if:

(a) the person is a firm; and

(b) the firm is disqualified under section 130EA; and

(c) the firm represents that a member or employee of the firm is eligible to be an RSE auditor.

Penalty: 50 penalty units.

(2) A person commits an offence if:

(a) the person is a company; and

(b) the company is disqualified under section 130EA; and

(c) the company represents that a director or employee of the company is eligible to be an RSE auditor.

Penalty: 250 penalty units.

(3) Subsections (1) and (2) are offences of strict liability.

Note: See also sections 131CC and 131CD.