Superannuation Industry (Supervision) Act 1993
Where:
(a) a person who is required under this Act, the regulations or the prudential standards to keep any accounts, accounting records or other records keeps them in such a way that they do not correctly record and explain the matters, transactions, acts or operations to which they relate; or
(b) a person who is required under this Act, the regulations or the prudential standards to make a record of any matter, transaction, act or operation makes it in such a way that it does not correctly record the matter, transaction, act or operation;
the person commits an offence punishable on conviction by a fine not exceeding 40 penalty units.
View history note
Hide history note303(1A)
Subsection (1) is an offence of strict liability.
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 .
303(2)
In a prosecution of a person for an offence against subsection (1), it is a defence if the person proves that the person:
(a) did not know; and
(b) could not reasonably be expected to have known;
that:
(c) in the case of a prosecution for an offence against subsection (1) by virtue of paragraph (a) - the accounts, accounting records or other records to which the prosecution relates did not correctly record and explain the matters, transactions, acts or operations to which they relate; or
(d) in the case of a prosecution for an offence against subsection (1) by virtue of paragraph (b) - the record to which the prosecution relates did not correctly record the matter, transaction, act or operation to which the record relates.
Note:
A defendant bears a legal burden in relation to the matters in subsection (2) (see section 13.4 of the Criminal Code ).
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