Document ID: chunk:federal_register_of_legislation:C2004A00522:clause:1_43
Version: federal_register_of_legislation:C2004A00522
Segment Type: clause
Provision Reference: sch 1 cl 43
Character Range: 37806–39168

43  Transitional—superannuation providers to give corrective statements

(1) If a superannuation provider has, before the commencement of this item, given a statement to the Commissioner under section 13 of the Superannuation Contributions Tax (Assessment and Collection) Act 1997 that did not comply with the requirements that would have applied if the amendments made by items of this Schedule that are taken to have commenced on 5 June 1997 had been in force, the provider must give to the Commissioner not later than a date fixed by the Minister by notice published in the Gazette, in substitution for the first‑mentioned statement, a further statement that complies with those requirements.

(2) A superannuation provider who contravenes subsection (1) is guilty of an offence punishable on conviction by a fine of not more than 60 penalty units.

Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2: The amount of a penalty unit is stated in section 4AA of the Crimes Act 1914. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine that is not greater than 5 times the maximum fine that could be imposed by the court on an individual convicted of the same offence.

(3) Chapter 2 of the Criminal Code applies to offences against subsection (2).