Retirement Savings Accounts Act 1997
A person commits an offence if:
(a) the person is an employee or officer of an RSA provider; and (b) the person gives information, or allows information to be given, to an auditor of the RSA provider; and (c) the information relates to the affairs of the RSA provider; and (d) the person knows that the information:
(i) is false or misleading in a material particular; or
(ii) is missing something that makes the information misleading in a material respect.
Penalty: Imprisonment for 5 years or 200 penalty units, or both.
70(2) Offence - person fails to ensure the information is not false or misleading etc.A person commits an offence if:
(a) the person is an employee or officer of an RSA provider; and (b) the person gives information, or allows information to be given, to an auditor of the RSA provider; and (c) the information relates to the affairs of the RSA provider; and (d) the information:
(i) is false or misleading in a material particular; or
(e) the person did not take reasonable steps to ensure that the information:
(ii) is missing something that makes the information misleading in a material respect; and
(i) was not false or misleading in a material particular; or
(ii) was not missing something that makes the information misleading in a material respect.
Penalty: Imprisonment for 2 years or 100 penalty units, or both.
70(3) Determining whether information is false or misleading.If information is given to the auditor in response to a question asked by the auditor, the information and the question must be considered together in determining whether the information is false or misleading.
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