Document ID: chunk:federal_register_of_legislation:C2025C00134:section:126k:p1
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 126K (pt 1/2)
Character Range: 623845–626465

126K  Disqualified persons not to be trustees, investment managers or custodians of superannuation entities
 (1) A person commits an offence if:
 (a) the person is a disqualified person; and
 (b) the person knows he or she is a disqualified person; and
 (c) the person is or acts as a trustee, investment manager or custodian of a superannuation entity; and
 (d) for a person who is an individual and who is a disqualified person only because he or she was disqualified under section 126H—the person is disqualified from being or acting as a trustee of that superannuation entity.
Penalty: Imprisonment for 2 years.
 (2) A person commits an offence if:
 (a) the person is a disqualified person; and
 (b) the person knows he or she is a disqualified person; and
 (c) the person is or acts as a trustee, investment manager or custodian of a superannuation entity; and
 (d) for a person who is an individual and who is a disqualified person only because he or she was disqualified under section 126H—the person is disqualified from being or acting as a trustee of that superannuation entity.
Penalty: 60 penalty units.
 (3) Subsection (2) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
 (4) A person commits an offence if:
 (a) the person is a disqualified person; and
 (b) the person knows he or she is a disqualified person; and
 (c) the person is or acts as a responsible officer of a body corporate that is a trustee, investment manager or custodian of a superannuation entity; and
 (d) for a person who is an individual and who is a disqualified person only because he or she was disqualified under section 126H—the person is disqualified from being or acting as that responsible officer.
Penalty: Imprisonment for 2 years.
 (5) A person commits an offence if:
 (a) the person is a disqualified person; and
 (b) the person knows he or she is a disqualified person; and
 (c) the person is or acts as a responsible officer of a body corporate that is a trustee, investment manager or custodian of a superannuation entity; and
 (d) for a person who is an individual and who is a disqualified person only because he or she was disqualified under section 126H—the person is disqualified from being or acting as that responsible officer.
Penalty: 60 penalty units.
 (6) Subsection (5) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
 (7) A person commits an offence if:
 (a) the person is a trustee of a superannuation entity; and
 (b) the person is or becomes a disqualified person; and
 (c) the person does not tell