Financial Sector Reform (Hayne Royal Commission Response) Act 2020 (135 of 2020)
Schedule 9 Adjustment of APRA and ASIC's roles in superannuation
Part 2 Adjustments relating to financial services
Australian Securities and Investments Commission Act 2001
32 At the end of section 93C
Add:
(2) If:
(a) a person commits an offence against this Act in the person's capacity as trustee of a registrable superannuation entity; and
(b) the penalty applicable to the offence is, or includes, a fine;
then, in determining the fine for the offence, the court must take into account the impact that the fine under consideration would have on the beneficiaries of the entity.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).