Superannuation Industry (Supervision) Act 1993

A person must not promote a scheme that has resulted, or is likely to result, in a payment being made from a regulated superannuation fund otherwise than in accordance with payment standards prescribed under subsection 31(1).

Subsection (1) is a civil penalty provision as defined by section 193, and Part 21 therefore provides for civil and criminal consequences of contravening, or being involved in a contravention of, that subsection.

In this section:

enter into the scheme;

induce another person to enter into the scheme;

carry out the scheme;

commence to carry out the scheme;

facilitate entry into, or the carrying out of, the scheme.

any agreement, arrangement, understanding, promise or undertaking:

whether express or implied; or

whether or not enforceable, or intended to be enforceable, by legal proceedings; or

any scheme, plan, proposal, action, course of action or course of conduct, whether unilateral or otherwise.