Document ID: chunk:federal_register_of_legislation:C2025C00134:section:152
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 152
Character Range: 791598–792925

152  Limitation on issuing, offering etc. superannuation interests in public offer entities
 (1) This section applies to the following conduct:
 (a) issuing superannuation interests in a public offer entity;
 (b) offering to issue superannuation interests in a public offer entity;
 (c) inviting the making of applications for the issue of superannuation interests in a public offer entity.
 (2) The trustee of a public offer entity must not engage in conduct to which this section applies.
Penalty: Imprisonment for 5 years.
Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
 (2A) Subsection (2) does not apply if:
 (a) the trustee is a constitutional corporation and is an RSE licensee; and
 (b) the entity is constituted by a deed as a trust.
Note: A defendant bears an evidential burden in relation to the matter in subsection (2A) (see subsection 13.3(3) of the Criminal Code).
 (3) A person, other than the trustee of a public offer entity, must not engage in conduct to which this section applies.
Penalty: Imprisonment for 5 years.
Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
 (4) This section does not prevent the trustee of a public offer entity from engaging or authorising persons to act on behalf of the trustee.