Superannuation Industry (Supervision) Act 1993

PART 25 - MONITORING AND INVESTIGATION  

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Pt 25 heading substituted by No 158 of 2012, s 3 and Sch 2 item 41, effective 31 January 2013. For application provisions see note under Pt 16 Div 1A heading. The heading formerly read:

PART 25 - MONITORING AND INVESTIGATING SUPERANNUATION ENTITIES

Division 3 - APRA may require trustee of superannuation entity to appoint an individual, or a committee, to investigate the financial position of the entity  

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Heading to Div 3 substituted by No 54 of 1998.

SECTION 262   TRUSTEE MUST COMPLY WITH REQUIREMENTS  

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262(1)    

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A trustee commits an offence if the trustee contravenes a requirement imposed on the trustee by or under section 257 , 258 or 259 .

Penalty: 100 penalty units.

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S 262(1) amended by No 82 of 2010 (as amended by No 136 of 2012), s 3 and Sch 6 item 68, by substituting " Penalty " for " Maximum penalty " in the penalty, effective 27 July 2010.

S 262(1) amended by No 53 of 2004, s 3 and Sch 2 item 272, by substituting " A trustee " for " The trustee " , effective 1 July 2004.

262(2)    

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A trustee commits an offence if the trustee contravenes a requirement imposed on the trustee by or under section 257 , 258 or 259 . 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 .

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History

S 262(2) amended by No 82 of 2010 (as amended by No 136 of 2012), s 3 and Sch 6 item 68, by substituting " Penalty " for " Maximum penalty " in the penalty, effective 27 July 2010.

S 262(2) amended by No 53 of 2004, s 3 and Sch 2 item 272, by substituting " A trustee " for " The trustee " , effective 1 July 2004.

S 262 substituted by No 160 of 2000, s 3 and Sch 3 item 66, effective 18 January 2001. S 262 formerly read:

SECTION 262 TRUSTEE MUST COMPLY WITH THIS DIVISION  
262
A trustee who intentionally or recklessly contravenes this Division is guilty of an offence punishable on conviction by a fine not exceeding 100 penalty units.

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