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FINANCIAL SECTOR REFORM (AMENDMENTS AND TRANSITIONAL PROVISIONS) ACT (NO. 1) 2000 NO. 24, 2000 - SCHEDULE 10
- Other amendments of the Superannuation Industry (Supervision) Act 1993
1 Subparagraph 6(1)(a)(viii)
Omit "(other than section 140)".
2 Subparagraph
6(1)(c)(iii)
Repeal the subparagraph.
3 Subsection 10(1) (definition of
approved form )
Repeal the definition, substitute: approved form has the
meaning given by section 11A.
4 Subsection 10(1)
Insert: signed , in relation to a body corporate, means
executed by or on behalf of the body corporate in a way that is effective in
law and that binds the body corporate.
5 After section 11
Insert: 11A Approved forms
- (1)
- In this Act, a reference
to an approved form is a reference to a form approved by the Regulator, in
writing, for the purposes of the provision in which the expression appears.
- (2)
- An approved form may require particular information to be included in the
completed form.
- (3)
- An approved form may do either or both of the following:
- (a)
- require or permit the form to be attached to, or to form part of, another
document;
- (b)
- require or permit the form to be given on a specified kind of data
processing device or by specified electronic transmission, in accordance with
specified software or other requirements.
- (4)
- An approved form may require the form to be signed by a particular person
or persons. This applies whether or not a provision of this Act also requires
the form to be signed.
- (5)
- An approved form may make different requirements to be complied with
according to whether or not the form is given in a way that is required or
permitted as mentioned in paragraph (3)(b).
- (6)
- If an approved form makes a requirement as mentioned in subsection (2),
- (3)
- or (4), a purported use of the form is not effective for the purposes of
this Act unless the requirement has been complied with.
11B Electronic lodgment of approved forms - (1)
- If a person gives the
Regulator an approved form in a way that is required or permitted as mentioned
in paragraph 11A(3)(b):
- (a)
- the form is taken to constitute a written notice; and
- (b)
- if the form includes the electronic signature of a person—the form is
taken to be signed by that person.
- (2)
- The person's electronic signature is a unique identification, in an
electronic form, that is approved by the Regulator for use by the person.
- (3)
- A person is guilty of an offence if:
- (a)
- the person gives the Regulator an approved form in a way that is required
or permitted as mentioned in paragraph 11A(3)(b); and
- (b)
- either:
- (i)
- the form purports to be given by another person; or
- (ii)
- the form purports to be given on behalf of another person, and that other
person has not consented to the giving of the form.
Maximum penalty: 50 penalty units.
- (4)
- A person is guilty of an offence if:
- (a)
- the person gives the Regulator an approved form in a way that is required
or permitted as mentioned in paragraph 11A(3)(b); and
- (b)
- the form includes the electronic signature of another person who has not
consented to the inclusion of the signature.
Maximum penalty: 50 penalty units.
- (5)
- Subsections (3) and (4) are offences
of strict liability within the meaning of section 6.1 of the Criminal Code .
11C Declaration required if approved form lodged electronically on trustee's
behalf - (1)
- This section applies if:
- (a)
- the Regulator is given an approved form in a way that is required or
permitted as mentioned in paragraph 11A(3)(b); and
- (b)
- the form is given to the Regulator by a person on behalf of the trustee,
or one or more of the trustees, of a superannuation entity.
In this section, the trustee, or each of the trustees, on whose behalf the
form is given is referred to as the responsible trustee .
- (2)
- The responsible trustee is guilty of an offence if the responsible trustee
does not, before the form is given to the Regulator, make a signed declaration
that states that:
- (a)
- the person is authorised to give the form to the Regulator on the
responsible trustee's behalf; and
- (b)
- the information in the form is correct.
Maximum penalty: 50 penalty units.
- (3)
- The responsible trustee is guilty of
an offence if the responsible trustee does not retain the declaration for 5
years after it is made.
Maximum penalty: 50 penalty units.
- (4)
- The responsible trustee is guilty of
an offence if:
- (a)
- within the 5 year period, the Regulator requests the responsible trustee
to produce the declaration to the Regulator; and
- (b)
- the responsible trustee does not comply with the request.
Maximum penalty: 50 penalty units.
- (5)
- Subsections (2), (3) and (4) are
offences of strict liability within the meaning of section 6.1 of the Criminal
Code .
11D Electronic lodgment—documents other than approved forms - (1)
- A
document that is not required to be lodged in an approved form may be lodged
with the Regulator electronically only if:
- (a)
- the Regulator and the person seeking to lodge it (either on the person's
own behalf or on another person's behalf) have agreed, in writing, that it may
be lodged electronically; or
- (b)
- the Regulator has approved, in writing, the electronic lodgment of
documents of that kind.
- (2)
- The document is taken to be lodged with the Regulator if it is lodged in
accordance with the agreement or approval (including any requirements of the
agreement or approval as to authentication).
6 Paragraph 18(3)(b)
Omit "under the common or official seal of", substitute
"signed by".
7 Subsection 19(4)
Omit all the words from and including
"written notice" to and including the end of paragraph (b), substitute:
written notice that is:
- (a)
- in the approved form; and
- (b)
- signed by the trustee or each trustee;
8 Subsections 36A(4), (5) and (6)
Repeal the subsections.
9 Subsection
131A(1)
Omit all the words from and including "the Regulator" (second
occurring), substitute: the Regulator may refer the details of the matter to
the persons specified in subsection (2).
- Note: Persons to whom the Regulator refers the details of the matter are
subject to secrecy obligations under section 56 of the Australian Prudential
Regulation Authority Act 1998 (if APRA is the Regulator) or section 252C of
this Act (if the Commissioner of Taxation is the Regulator). In particular,
see paragraph (c) of the definition of officer in subsection (1), and
subsections (2), (9) and (10), of those sections .
10 Subsection 140(2)
Omit "a form approved by ASIC", substitute "the approved
form".
11 Subsection 254(1)
Omit "the prescribed information to APRA or such
other body or person as is specified in the regulations", substitute "such
information to APRA, or to such other body or person as is specified in the
regulations, as is required by the approved form".
12 Subsection 254(1)
(note)
Repeal the note, substitute:
- Note: The approved form for information
required to be given under this subsection may require the trustee to set out
the tax file number of the entity. See subsection 299U(8).
13 Subsection 299U(8)
Repeal the subsection, substitute:
Information to be
given after establishment of entity
- (8)
- The approved form for information
required to be given under subsection 254(1) may require the tax file number
of the entity to be given.
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