Document ID: chunk:federal_register_of_legislation:C2025C00134:section:124
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 124
Character Range: 606501–607130

124  Investment managers must be appointed in writing
 (1) A trustee of a superannuation entity must not make a non‑written appointment of an investment manager of the entity.
Note: Section 166 imposes an administrative penalty for a contravention of subsection (1) in relation to a self managed superannuation fund.
 (2) A trustee commits an offence if the trustee contravenes subsection (1). This is an offence of strict liability.
Penalty: 50 penalty units.
Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
Note 2: For strict liability, see section 6.1 of the Criminal Code.