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FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT LEVY (COLLECTION) ACT 2023 - SECT 28

Treatment of RSE licensees

  (1)   This Act applies to an RSE licensee that is a group of individual trustees as if the group were a person, but with the changes set out in this section.

  (2)   An obligation that would otherwise be imposed on the group by this Act is imposed on each individual, but may be discharged by any of the individuals.

  (3)   An offence against this Act that would otherwise have been committed by the group is taken to have been committed by each individual trustee, at the time the offence was committed, who:

  (a)   did the relevant act or made the relevant omission; or

  (b)   aided, abetted, counselled or procured the relevant act or omission; or

  (c)   was in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the individual).



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