Document ID: chunk:federal_register_of_legislation:C2004A01287:clause:1_29pc
Version: federal_register_of_legislation:C2004A01287
Segment Type: clause
Provision Reference: sch 1 cl 29PC
Character Range: 82174–84077

29PC  Notification of modifications etc. to risk management plans

 (1) If an RSE licensee modifies a risk management plan for a registrable superannuation entity that has been registered under this Part, the RSE licensee must give APRA:
 (a) a copy of the modification; and
 (b) a copy of the plan as modified;
within 14 days after making the modification.

 (2) If an RSE licensee repeals a risk management plan (the old plan) for a registrable superannuation entity that has been registered under this Part and replaces it with another risk management plan (the new plan), the RSE licensee must give APRA:
 (a) a copy of the new plan; and
 (b) a written statement to the effect that the new plan replaces the old plan;
within 14 days after the old plan is repealed.

 (3) Any copy or statement given to APRA under this section must be signed by the RSE licensee.

Note: If the RSE licensee is a group of individual trustees, the copy or statement must be signed by each of the individual trustees: see subsection 13A(6).

 (4) A person commits an offence if:
 (a) the person is:
 (i) a body corporate that is an RSE licensee; or
 (ii) a member of a group of individual trustees that is an RSE licensee; and
 (b) the RSE licensee is in breach of subsection (1), (2) or (3).

Penalty: 50 penalty units.

 (5) A person commits an offence if:
 (a) the person is:
 (i) a body corporate that is an RSE licensee; or
 (ii) a member of a group of individual trustees that is an RSE licensee; and
 (b) the RSE licensee is in breach of subsection (1), (2) or (3).
This is an offence of strict liability.

Penalty: 25 penalty units.

Note 1: For strict liability, see section 6.1 of the Criminal Code.

Note 2: 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.

Subdivision C—Miscellaneous