242P
CurrentOperating a fund as an eligible rollover fund when not authorised to do so
Volume 2Parts 16 to 32 (sections 128 to 383), Endnotes
Part 24Eligible rollover funds
Division 2Authority to operate an eligible rollover fund
Subdivision EMiscellaneous
242P Operating a fund as an eligible rollover fund when not authorised to do so
(1)
A person commits an offence if:
(a)
the person makes a representation; and
(b)
the representation is that a regulated superannuation fund is an eligible rollover fund; and
(c)
the RSE licensee for the fund does not have authority to operate the fund as an eligible rollover fund.
Penalty: 60 penalty units.
Note:
Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility and Part IA of the Crimes Act 1914 contains provisions dealing with penalties.
(2)
Subsection (1) is an offence of strict liability.
Note:
For strict liability, see section 6.1 of the Criminal Code.
This Act’s bill:Second reading speech
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