Notice of Disqualification - Alexia Dew - 27 March 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted to address the need for oversight and regulation of the superannuation industry in Australia. The primary objective of this legislation is to ensure the proper management and administration of superannuation entities, protecting the interests of superannuation fund members. The SISA establishes a framework for the supervision and regulation of the industry, including provisions for the disqualification of individuals who have contravened the Act's provisions while acting as responsible officers of corporate trustees. The Parliament of Australia enacted this legislation to safeguard the financial well-being of superannuation fund members and maintain the integrity of the superannuation system. The Act empowers the Commissioner of Taxation to disqualify individuals who have been involved in serious contraventions of the SISA, ensuring that those responsible for the administration of superannuation entities are held accountable for their actions.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to responsible officers of corporate trustees within the superannuation industry, with a particular focus on those involved in the management of superannuation entities. This Act operates at the Commonwealth level, ensuring a consistent regulatory framework across Australia. It extends its jurisdiction to individuals who have contravened the provisions of the Act, particularly those who were responsible officers at the time of the contraventions. The Act also imposes penalties on disqualified persons who continue to act in a prohibited capacity, with a maximum penalty of two years imprisonment. The scope of the Act is broad, encompassing various aspects of superannuation management and governance, and it includes provisions for the disqualification and subsequent revocation of disqualification of responsible officers. The Act can extend its application through subordinate instruments, which may provide further detail on the specific circumstances under which disqualification can occur or be revoked.

Key Provisions

The main sections of the Superannuation Industry (Supervision) Act 1993 (SISA) relevant to this notice are subsections 126A(2) and 126A(6). Subsection 126A(2) allows for the disqualification of a person from being involved in the management of a superannuation entity if there has been a contravention of the SISA. Subsection 126A(6) requires that the person be notified in writing of this disqualification, detailing the grounds and the effective date of the disqualification. Under the SISA, Alexia Dew is required to cease any involvement in the management of superannuation entities following her disqualification. This includes ceasing to act as a trustee, investment manager, custodian, or responsible officer of any superannuation entity. The obligations on Alexia Dew are stringent, as she must ensure that she does not engage in any activities that would require her to be involved in the administration of a superannuation fund, directly or indirectly. The Act imposes several obligations on Alexia Dew. Primarily, she must refrain from participating in the management of any superannuation entity. This includes ceasing any professional activities that would involve her in the administration of superannuation funds. Additionally, she is obligated to notify any superannuation entities of which she is currently involved that she is disqualified and to withdraw from any position she holds with these entities. There are significant consequences for breach of the disqualification under section 126K of the SISA. It is an offence for a disqualified person to act in any capacity within a superannuation entity, and the maximum penalty for this offence is two years imprisonment. This penalty serves as a deterrent against non-compliance with the disqualification. Furthermore, subsection 126A(5) of the SISA allows for the revocation of the disqualification on the initiative of the Commissioner or upon written application by Alexia Dew. This provides a mechanism for potential reinstatement under certain conditions. In summary, the notice of disqualification under the SISA serves to protect the integrity of superannuation management by ensuring that individuals who have contravened the Act are removed from positions of responsibility. The obligations placed on Alexia Dew are clear and enforceable, with significant penalties for non-compliance. The notice not only enforces the law but also provides pathways for reconsideration and potential reinstatement, ensuring a balanced approach to enforcement.