Document ID: chunk:federal_register_of_legislation:C2025C00134:section:122
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 122
Character Range: 602458–603068

122  Investment manager must not appoint or engage custodian without the trustee's consent
 (1) An investment manager of a superannuation entity must not appoint or engage a custodian of the entity without the written consent of the trustee, or the trustees, of the entity.
 (2) The investment manager commits an offence if the investment manager 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.