NOTICE OF DISQUALIFICATION Evita Edelmane- 24 April 2026
Superannuation Industry (Supervision) Act 1993
To:
Evita Edelmane
POTTS POINT NSW 2011
I, Ben Kelly, a delegate of the Commissioner of Taxation, give you notice as required by subsection 126A(6) of the Superannuation Industry (Supervision) Act 1993 (SISA), that I have disqualified you under subsection 126A(1) of the SISA.
I’ve disqualified you as I’m satisfied that you’ve contravened the SISA on one or more occasions and the seriousness of the contraventions provide grounds for disqualifying you.
The disqualification takes effect on the day on which it is made.
Dated: 24 April 2026
Ben Kelly
Deputy Commissioner of Taxation
Per Nichola Wood-Smith
Note 1:
Under subsection 126A(7) of the SISA, details of this disqualification notice will be published as a notifiable instrument in the Federal Register of Legislation.
Note 2:
Under section 126K of the SISA, it is an offence for a disqualified person, who knows that he or she is a disqualified person, to be, or act as a:
› trustee, investment manager or custodian of a superannuation entity
› responsible officer or a body corporate that is a trustee, investment manager or custodian, of a superannuation entity.
The maximum penalty for committing this offence is two years jail.
Note 3:
Under subsection 126A(5) of the SISA, we may revoke this disqualification on our own initiative or on your written application.
Note 4:
Under section 344 of the SISA, if you are affected by this decision and are not satisfied with it, you can ask the Commissioner to reconsider the decision. This request must be made in writing within 21 days of receiving notice of this decision and must give the reasons you think the decision is wrong.
Overview
The Superannuation Industry (Supervision) Act 1993 was enacted to provide a regulatory framework governing the operations of the superannuation industry in Australia. This legislation aims to protect the interests of superannuation fund members by ensuring the proper management and administration of funds. The Act addresses issues such as ensuring compliance with industry standards, maintaining the integrity of the superannuation system, and safeguarding the financial well-being of participants. Enacted by the Australian Parliament, the policy objective of the Superannuation Industry (Supervision) Act 1993 is to maintain high standards of conduct and governance within the superannuation sector, thereby promoting trust and confidence in the system. The Act empowers the Commissioner of Taxation to disqualify individuals who contravene its provisions, ensuring that those who do not adhere to the regulatory requirements are appropriately sanctioned.
Scope and Application
The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and entities involved in the superannuation industry, with a primary focus on trustees, investment managers, and custodians of superannuation entities. The act has a national reach, operating across the Commonwealth of Australia, and its provisions are applicable to all states and territories. The legislation encompasses conduct and transactions that pertain to the administration and management of superannuation funds, ensuring compliance with specified standards to protect the interests of superannuation fund members. The SISA also extends its application through subordinate instruments, which can provide additional regulations and guidelines to further clarify and enforce the act's provisions. Notably, the act does not explicitly state exclusions, exemptions, or thresholds, implying that its application is broad and comprehensive within the defined scope of the superannuation industry.
Key Provisions
The Superannuation Industry (Supervision) Act 1993 (SISA) contains provisions that allow the Commissioner of Taxation to disqualify individuals from participating in the administration of superannuation entities under certain conditions. Specifically, subsection 126A(1) provides the authority to disqualify individuals who have contravened the SISA, particularly if the contraventions are serious enough to warrant such action. The disqualification is immediate upon notice, as stipulated in subsection 126A(6). The notice itself, as seen in the document, is formal and specifies the reasons for the disqualification, including the contraventions that led to this decision.
The Act imposes significant obligations on the parties it governs. For instance, a disqualified person under section 126K is prohibited from acting as a trustee, investment manager, or custodian of a superannuation entity, or being a responsible officer or part of a body corporate that holds these roles. This restriction is intended to protect the interests of superannuation fund members by ensuring that only fit and proper persons manage their retirement savings. Furthermore, the Act mandates that details of the disqualification, such as the notice provided to Evita Edelmane, be published in the Federal Register of Legislation as a notifiable instrument under subsection 126A(7).
Failure to comply with the disqualification can lead to severe consequences. As outlined in section 126K, it is an offence for a disqualified person to act in any capacity within a superannuation entity. This offence carries a maximum penalty of two years imprisonment, highlighting the seriousness with which the Act treats breaches of disqualification orders. Additionally, the Act provides mechanisms for reviewing the disqualification decision, as per section 344, allowing the disqualified person to request a reconsideration in writing within 21 days of receiving the notice, provided they present reasons why the decision should be revisited. This offers a measure of due process and ensures that individuals have a chance to contest decisions that significantly impact their professional capabilities.