Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to the following persons:
(a) a trustee of a self managed superannuation fund, if the Regulator reasonably believes that the trustee has contravened a provision of this Act (other than Part 3B) or the regulations in relation to the fund;
(b) a director of a body corporate that is a trustee of a self managed superannuation fund, if the Regulator reasonably believes that:
(i) the director has contravened a provision of this Act (other than Part 3B) or the regulations in relation to the fund; or
(ii) the trustee has contravened a provision of this Act (other than Part 3B) or the regulations in relation to the fund.
(2) The Regulator may give the person a written direction (an education direction ) requiring the person:
(a) to undertake a specified approved course of education (see section 161); and
(b) to provide the Regulator with evidence of completion of the course.
Note: See also section 104A (recognition of obligations and responsibilities).
(3) An education direction must specify the period within which the person must comply with the direction (which must be a period that is reasonable in the circumstances).
Note: The period may be affected by the operation of subsection 164(7).
(4) A person to whom an education direction is given must comply with the direction before the end of the specified period.
Note: Section 166 imposes an administrative penalty for a contravention of subsection (4).
(5) A person commits an offence of strict liability if the person contravenes subsection (4).