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Retirement Savings Accounts Act 1997
42RSA provider not to breach capital guarantee
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#### 42 RSA provider not to breach capital guarantee
(1) An RSA provider must not:
(a) reduce the balance of an RSA that is an account by the crediting of any negative interest; or
(b) reduce the contributions or accumulated earnings of an RSA that is a policy by negative investment returns or any reduction in the value of assets in which the policy is invested.
Penalty: 100 penalty units.
(2) Subsection (1) 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.