Superannuation Industry (Supervision) Amendment Regulations 2008 (No. 3) (171 of 2008)

Schedule 1   Amendments

[5]   After regulation 13.19

insert

13.19A Disqualification by Federal Court - matters to take into account

(1) For paragraph 126H (6) (a) of the Act, the matters set out in this regulation are specified.

(2) In relation to subsection 126H (3) of the Act, the matters are:

(a) whether the individual is, or has been, a disqualified person under Part 15 of the Act, as applied by Division 2 of Part 7 of the FHSA Act; and

(b) whether the individual has contravened the FHSA Act (including provisions of the Act applied by Division 2 of Part 7 of the FHSA Act) on one or more occasions; and

(c) the number, nature and seriousness of any contraventions of the FHSA Act (including applied provisions of the Act).

(3) In relation to subsection 126H (4) of the Act, the matters are:

(a) whether the individual is, or has been, a responsible officer of a trustee, investment manager or custodian that is, or has been, a disqualified person under Part 15 of the Act, as applied by Division 2 of Part 7 of the FHSA Act; and

(b) whether the individual is, or has been, a responsible officer of a trustee, investment manager or custodian that has contravened the FHSA Act (including provisions of the Act applied by Division 2 of Part 7 of the FHSA Act) on one or more occasions; and

(c) the number, nature and seriousness of any contraventions of the FHSA Act (including applied provisions of the Act).

(4) In relation to subsection 126H (5) of the Act, the matters are:

(a) whether the individual has engaged in conduct that relates to FHSA trusts within the meaning of the FHSA Act on one or more occasions; and

(b) whether any conduct of that kind makes it reasonable to conclude that the individual is not a fit and proper person to be a person referred to in subsection 126H (2) of the Act.