Contravention of superannuation data and payment regulation or standard
288-110 Contravention of superannuation data and payment regulation or standard
Liability to penalty—RSA providers and trustees of eligible superannuation entities
An entity is liable to an administrative penalty if the entity contravenes:
subsection 34M(1) of the Superannuation Industry (Supervision) Act 1993; or
subsection 45D(1) of the Retirement Savings Accounts Act 1997.
An entity is liable to an administrative penalty if the entity contravenes:
subsection 34P(6) of the Superannuation Industry (Supervision) Act 1993; or
subsection 45F(6) of the Retirement Savings Accounts Act 1997.
Liability to penalty—employers
An entity is liable to an administrative penalty if the entity contravenes:
subsection 34N(1) of the Superannuation Industry (Supervision) Act 1993; or
subsection 45E(1) of the Retirement Savings Accounts Act 1997.
An entity is liable to an administrative penalty if the entity contravenes:
subsection 34Q(6) of the Superannuation Industry (Supervision) Act 1993; or
subsection 45G(6) of the Retirement Savings Accounts Act 1997.
Amount of the penalty
The amount of the penalty is:
for an administrative penalty under subsection (1) or (3)—4 penalty units; or
for an administrative penalty under subsection (2) or (4)—10 penalty units.
The Commissioner is required to notify you of an administrative penalty: see section 298‑10.
This Act’s bill:Second reading speech
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