Document ID: chunk:federal_register_of_legislation:C2025C00134:section:68b
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 68B
Character Range: 492140–493254

68B  Promotion of illegal early release schemes
 (1) A person must not promote a scheme that has resulted, or is likely to result, in a payment being made from a regulated superannuation fund otherwise than in accordance with payment standards prescribed under subsection 31(1).
 (2) Subsection (1) is a civil penalty provision as defined by section 193, and Part 21 therefore provides for civil and criminal consequences of contravening, or being involved in a contravention of, that subsection.
 (3) In this section:
promote, in relation to a scheme, includes the following:
 (a) enter into the scheme;
 (b) induce another person to enter into the scheme;
 (c) carry out the scheme;
 (d) commence to carry out the scheme;
 (e) facilitate entry into, or the carrying out of, the scheme.
scheme means:
 (a) any agreement, arrangement, understanding, promise or undertaking:
 (i) whether express or implied; or
 (ii) whether or not enforceable, or intended to be enforceable, by legal proceedings; or
 (b) any scheme, plan, proposal, action, course of action or course of conduct, whether unilateral or otherwise.