126KDisqualified persons not to be trustees, investment managers or custodians of superannuation entities

#### 126K Disqualified persons not to be trustees, investment managers or custodians of superannuation entities (1) A person commits an offence if: (a) the person is a disqualified person; and (b) the person knows he or she is a disqualified person; and (c) the person is or acts as a trustee, investment manager or custodian of a superannuation entity; and (d) for a person who is an individual and who is a disqualified person only because he or she was disqualified under section 126H—the person is disqualified from being or acting as a trustee of that superannuation entity. Penalty: Imprisonment for 2 years. (2) A person commits an offence if: (a) the person is a disqualified person; and (b) the person knows he or she is a disqualified person; and (c) the person is or acts as a trustee, investment manager or custodian of a superannuation entity; and (d) for a person who is an individual and who is a disqualified person only because he or she was disqualified under section 126H—the person is disqualified from being or acting as a trustee of that superannuation entity. Penalty: 60 penalty units. (3) Subsection (2) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. (4) A person commits an offence if: (a) the person is a disqualified person; and (b) the person knows he or she is a disqualified person; and (c) the person is or acts as a responsible officer of a body corporate that is a trustee, investment manager or custodian of a superannuation entity; and (d) for a person who is an individual and who is a disqualified person only because he or she was disqualified under section 126H—the person is disqualified from being or acting as that responsible officer. Penalty: Imprisonment for 2 years. (5) A person commits an offence if: (a) the person is a disqualified person; and (b) the person knows he or she is a disqualified person; and (c) the person is or acts as a responsible officer of a body corporate that is a trustee, investment manager or custodian of a superannuation entity; and (d) for a person who is an individual and who is a disqualified person only because he or she was disqualified under section 126H—the person is disqualified from being or acting as that responsible officer. Penalty: 60 penalty units. (6) Subsection (5) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. (7) A person commits an offence if: (a) the person is a trustee of a superannuation entity; and (b) the person is or becomes a disqualified person; and (c) the person does not tell the Regulator in writing immediately. Penalty: 50 penalty units. (8) 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.