137Scheme rules

137 Scheme rules

137 Scheme rules

(1) The Minister may approve rules that make provision about—

(a) matters for which a scheme rule may be made under this Part, and

(b) other matters prescribed by the regulations.

(2) A rule may make provision for a matter by applying, adopting or incorporating the provisions of an Act or statutory rule or another publication as follows—

(a) with or without modification,

(b) as in force on a particular day or from time to time.

(3) A rule may—

(a) apply generally or be limited in its application by reference to specified exceptions or factors, or

(b) apply differently according to different factors of a specified kind, or

(c) authorise a matter or thing to be from time to time agreed, determined, applied or regulated by a specified person or body.

(4) The Minister may from time to time approve a rule that amends a rule or revokes a rule.

(5) Notice of a rule approved by the Minister must be published in the Gazette.

(6) A rule takes effect on—

(a) the day on which the written notice is published in the Gazette, or

(b) the later day specified in the rule.

(7) The Minister must make copies of each rule available to each scheme participant and the public.

(8) A rule must be consistent with this Act and the regulations.

(9) A person who is a scheme participant or an accredited certificate provider must not contravene a provision of a scheme rule.

Maximum penalty (subclause (9))—250 penalty units for a corporation or 100 penalty units for an individual.