Document ID: chunk:federal_register_of_legislation:C2025C00134:section:63:p2
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 63 (pt 2/3)
Character Range: 436581–439292

units.
 (7A) Subsection (7) is an offence of strict liability.
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.

Additional rule for certain funds not complying with equal representation rules
 (7B) An RSE licensee of a fund that is not a public offer superannuation fund must not, while subsection (7D) applies to the fund, accept any contributions made to the fund by an employer‑sponsor.
Penalty: 60 penalty units.
 (7C) Subsection (7B) is an offence of strict liability.
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.
 (7D) This subsection applies to the fund if:
 (a) the fund is failing to comply with subsection 92(4) or 93(4) (whichever is applicable); or
 (b) having previously failed to comply, the fund does so comply but the RSE licensee has not given to APRA a notice in the approved form that:
 (i) states that the fund so complies; and
 (ii) if the RSE licensee is a group of individual trustees and the compliance is as a result of the appointment of one or more other individual trustees to the group—states the appointee's name or the appointees' names; and
 (iii) if the RSE licensee is a body corporate and the compliance is as a result of the appointment of one or more directors to the board of directors of the body corporate—states the appointee's name or the appointees' names.

Refund of contributions
 (8) A contravention of subsection (7) or (7B) does not result in the invalidity of a transaction. However, if a contribution is accepted in contravention of either of those subsections, a trustee of the fund concerned must refund the contribution within 28 days or such further period as the Regulator allows.

Notification to employer‑sponsors
 (9) If a trustee of a fund is given a direction under this section, each trustee of the fund must ensure that all reasonable steps are taken to notify the direction to each employer‑sponsor of the fund.

Offence of contravening subsection (8) or (9)
 (10) A person who, without reasonable excuse, contravenes subsection (8) or (9) commits an offence punishable on conviction by a fine not exceeding 50 penalty units.
 (10A) Subsection (10) is an offence of strict liability.
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.

Refunded contributions to be ignored for the purposes of income tax and superannuation guarantee charge
 (11) For the purposes of the Income Tax Assessment