Notice of Disqualification - Courtney Dowling - 5 June 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted by the Australian Parliament to regulate and oversee the superannuation industry, aiming to protect the interests of superannuation fund members. This Act provides a framework for the oversight and administration of superannuation funds and addresses issues such as the disqualification of individuals who fail to comply with the standards expected of them within the industry. The SISA was designed to ensure that superannuation entities are managed responsibly, and it establishes mechanisms to enforce compliance and address breaches of its provisions. In the case of Courtney Dowling, the Act was invoked to disqualify her due to her role as a responsible officer of a corporate trustee that contravened the SISA on multiple occasions, with the seriousness of the contraventions warranting such action. The policy objective of the SISA is to safeguard the superannuation savings and investments of Australian workers, thereby ensuring their financial security in retirement.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to responsible officers of corporate trustees who are involved in the management of superannuation entities, as well as to the corporate trustees themselves. The Act has a national reach as it is a Commonwealth Act, impacting entities and individuals across Australia. The disqualification under section 126A of the SISA is triggered when a responsible officer is found to have contravened the Act, and the seriousness of these contraventions justifies disqualification. The geographic jurisdiction of this Act extends to the entire nation, covering all states and territories within Australia. There are no stated exclusions or exemptions in the Act regarding who it applies to, but it does provide pathways for the disqualification to be revoked under certain conditions. Additionally, the Act allows for the extension or restriction of its application through subordinate instruments, although specific details of such instruments are not elaborated in the provided text. The notice of disqualification, as in the case of Courtney Dowling, will be published in the Federal Register of Legislation, ensuring transparency and public notification of such actions.

Key Provisions

The primary operative sections of this legislation pertain to the disqualification of an individual, Courtney Dowling, from holding certain roles within superannuation entities. Specifically, subsection 126A(2) of the Superannuation Industry (Supervision) Act 1993 (SISA) allows for the disqualification of a person if the corporate trustee of a superannuation entity has contravened the SISA, and the individual was a responsible officer at the time of the contraventions. The disqualification takes effect immediately upon notice, as indicated in subsection 126A(6). Additionally, under subsection 126A(7), the details of this disqualification will be published in the Federal Register of Legislation as a Notifiable Instrument. The Act imposes several obligations on Courtney Dowling, primarily stemming from the disqualification. Firstly, under section 126K of the SISA, it is an offence for Courtney Dowling, being aware of her disqualification, to assume or act in any capacity as a trustee, investment manager, or custodian of a superannuation entity, or as a responsible officer or part of a body corporate that holds such roles. This provision ensures that disqualified individuals do not continue to influence or manage superannuation entities, thereby protecting the interests of superannuation fund members. The seriousness of this obligation is underscored by the potential criminal penalties for breach. Failure to adhere to the disqualification provisions can result in significant civil and criminal consequences. Section 126K of the SISA stipulates that knowingly acting in a prohibited capacity while disqualified is an offence, carrying a maximum penalty of two years imprisonment. This reflects the importance of compliance with the Act's provisions to maintain the integrity of the superannuation industry. Furthermore, the Act provides mechanisms for reconsideration of the disqualification decision. Under section 344 of the SISA, Courtney Dowling can request the Commissioner to reconsider the decision in writing within 21 days of receiving notice, provided she outlines the reasons she believes the decision to be incorrect. Additionally, subsection 126A(5) allows for the revocation of the disqualification either on the initiative of the relevant authorities or upon written application by Courtney Dowling.