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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 29PB

Obligation on responsible officers of RSE licensees to answer questions

  (1)   This section applies if a member of a registrable superannuation entity asks a responsible officer of the RSE licensee for the entity a question at the meeting.

  (2)   The responsible officer of the RSE licensee must answer the question at the meeting or, if it is not reasonably practicable to do so, within 1 month after the meeting.

Penalty:   50 penalty units.

  (3)   Subsection   (2) does not apply:

  (a)   if the question is not relevant to:

  (i)   an action, or failure to act, by the RSE licensee in relation to the registrable superannuation entity or one or more members of the registrable superannuation entity; or

  (ii)   the registrable superannuation entity; or

  (b)   if it would be in breach of the governing rules of the registrable superannuation entity, this Act or any other law to answer the question; or

  (c)   if answering the question would result in detriment to the members of the registrable superannuation entity, taken as a whole; or

  (d)   in any other circumstances prescribed by the regulations.


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