Document ID: chunk:federal_register_of_legislation:C2025C00134:section:154
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 154
Character Range: 792925–794129

154  Commission and brokerage
 (1) The trustee of a public offer entity must comply with the requirements of the regulations in relation to the payment of commission or brokerage in respect of:
 (a) an application for the issue of a superannuation interest in the entity; or
 (b) an application to become a standard employer‑sponsor of the entity.
 (2) The trustee commits an offence if the trustee contravenes subsection (1).
Penalty: 100 penalty units.
 (2A) The 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.
 (3) Requirements specified in regulations for the purposes of subsection (1) must relate to all or any of the following:
 (a) the classes of persons to whom payments of commission or brokerage may be made;
 (b) the situations in which payments of commission or brokerage may be made;
 (c) the disclosure of information about payments of commission or brokerage;
 (d) the keeping of records about payments of commission or brokerage.