Notice of Disqualification - Donna Powell - 3 July 2026

Overview

The Superannuation Industry (Supervision) Act 1993 was enacted to address significant regulatory gaps and provide robust oversight of the superannuation industry in Australia. The Act was introduced by the Australian Parliament with the policy objective of ensuring the protection of superannuation funds and the maintenance of high standards of conduct among industry participants. One of the Act's key provisions includes the ability to disqualify individuals from acting as responsible officers in superannuation entities if they are found to have contravened the Act, thus ensuring that those who fail to uphold the required standards are held accountable. The legislation empowers the Commissioner of Taxation to make such disqualifications, as seen in the notice to Donna Powell, who has been disqualified due to her role in corporate trustee contraventions of the Act.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to responsible officers of corporate trustees who manage superannuation entities. This legislation is a Commonwealth Act and thus has a national jurisdictional reach, governing the conduct of individuals and entities involved in the administration of superannuation funds across Australia. The Act aims to ensure the proper management and supervision of superannuation funds by disqualifying individuals who engage in serious contraventions of the Act while acting in their official capacity. Exclusions or exemptions from this legislation are limited, and the scope of its application can be further defined through subordinate instruments. These may include regulations that specify the nature of disqualifying conduct or outline the processes for disqualification and potential revocation. Notably, the Act stipulates that disqualified individuals are prohibited from acting as trustees, investment managers, or custodians of superannuation entities, with serious legal consequences for non-compliance, including potential jail time. The geographic and jurisdictional reach of the Act ensures uniform enforcement of these standards across all states and territories in Australia.

Key Provisions

The primary operative sections in this notice of disqualification are subsection 126A(2) and subsection 126A(6) of the Superannuation Industry (Supervision) Act 1993 (SISA). Under subsection 126A(2), the delegate of the Commissioner of Taxation has the authority to disqualify an individual from participating in superannuation entities if there are grounds for doing so. The notice, provided under subsection 126A(6), informs Donna Powell of her disqualification based on the delegate's satisfaction that she was a responsible officer of the corporate trustee during contraventions of the SISA. The obligations and requirements imposed on Donna Powell by this disqualification are significant. She is prohibited from acting or being involved as a trustee, investment manager, custodian, responsible officer, or a body corporate that is a trustee, investment manager, or custodian of a superannuation entity. This restriction is crucial to prevent further contraventions of the SISA and to maintain the integrity of the superannuation industry. The disqualification notice explicitly details the prohibitions and the immediate effect of the disqualification upon its issuance. Any breach of this disqualification notice constitutes a serious offence under section 126K of the SISA. If Donna Powell knowingly acts or is involved in any capacity that she is disqualified from, she faces potential criminal penalties. The maximum penalty for such an offence is two years imprisonment, underscoring the seriousness of complying with the disqualification. Additionally, subsection 126A(5) of the SISA provides a mechanism for the revocation of this disqualification, either by the delegate on their own initiative or upon a written application by Donna Powell. This offers a pathway for her to potentially regain her eligibility under certain conditions. Finally, section 344 of the SISA allows Donna Powell to request a reconsideration of the disqualification decision if she is dissatisfied with it. This reconsideration must be requested in writing within 21 days of receiving the notice and must include the reasons for her dissatisfaction. This provision ensures that there is a formal process for challenging the decision, providing a measure of due process.