Document ID: chunk:federal_register_of_legislation:C2015C00151:clause:7_242p
Version: federal_register_of_legislation:C2015C00151
Segment Type: clause
Provision Reference: sch 7 cl 242P
Character Range: 134474–135167

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.