Commonwealth Consolidated Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 29JCB

  (1)   A person commits an offence if:

  (a)   the person holds a controlling stake in an RSE licensee; and

  (b)   the person does not have approval under section   29HD to hold a controlling stake in the RSE licensee.

Penalty:   400 penalty units for each day on which the person holds a controlling stake in the RSE licensee without approval.

  (2)   Strict liability applies to subsection   (1).