Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010 (82 of 2010)

Schedule 4   Amendment of other Acts

Part 1   Amendments

Superannuation Industry (Supervision) Act 1993

34   At the end of Subdivision C of Division 3 of Part 15

Add:

126L Privilege against exposure to penalty - disqualification under section 126A, 126H or 130D

Proceedings

(1) In the case of any proceeding under, or arising out of, this Act, a person is not entitled to refuse or fail to comply with a requirement:

(a) to answer a question or give information; or

(b) to produce books; or

(c) to do any other act;

on the ground that the answer or information, production of the books, or doing that other act, as the case may be, might tend to make the person liable to a penalty by way of a disqualification under section 126A, 126H or 130D.

(2) Subsection (1) applies whether or not the person is a defendant in, or a party to, the proceeding or any other proceeding.

Statutory requirements

(3) A person is not entitled to refuse or fail to comply with a requirement under this Act:

(a) to answer a question or give information; or

(b) to produce books; or

(c) to do any other act;

on the ground that the answer or information, production of the books, or doing that other act, as the case may be, might tend to make the person liable to a penalty by way of a disqualification under section 126A, 126H or 130D.

Admissibility

(4) Subsections 130B(2), 287(3), 290(2) and 336F(2) do not apply to a proceeding for the imposition of a penalty by way of a disqualification under section 126A, 126H or 130D.

Other provisions

(5) Subsections (1) and (3) of this section have effect despite anything in:

(a) section 199; or

(b) any other provision of this Act; or

(c) theAdministrative Appeals Tribunal Act 1975.

Definition

(6) In this section:

penalty includes forfeiture.