Notice of Disqualification – Justin Betteridge - 8 July 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted to regulate the superannuation industry, ensuring that trustees, investment managers, and custodians of superannuation entities operate within the prescribed legal and regulatory framework. This Act was introduced to address the need for stringent oversight of superannuation entities to protect the interests of superannuation fund members. The Parliament of Australia enacted the SISA with the policy objective of safeguarding the superannuation system by promoting integrity, efficiency, and prudence in the management of superannuation funds. The Act provides the Commissioner of Taxation with the authority to disqualify individuals who are responsible officers of corporate trustees that have contravened the provisions of the Act. This legislative measure aims to maintain the integrity of the superannuation system by preventing individuals involved in serious contraventions from continuing to manage superannuation funds.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 applies to responsible officers of corporate trustees within the superannuation industry, including trustees, investment managers, or custodians of superannuation entities. The Act has a Commonwealth jurisdiction, meaning it applies across Australia. The Act’s provisions extend to disqualify individuals who have been involved in the contravention of the Act by a corporate trustee if the contravention is serious enough to warrant such action. The disqualification is immediate upon notification and prohibits the disqualified individual from acting in any capacity within a superannuation entity. This prohibition includes being a trustee, investment manager, or custodian, or a responsible officer of such roles within a body corporate. The disqualification can be revoked at the discretion of the delegate of the Commissioner of Taxation, either on their own initiative or in response to a written application from the disqualified person. Should a disqualified person contravene the Act by continuing in their role, they face a criminal penalty of up to two years in jail. Additionally, the disqualification notice is published as a notifiable instrument in the Federal Register of Legislation, ensuring transparency and public awareness of such actions.

Key Provisions

The primary operative sections of the Superannuation Industry (Supervision) Act 1993 (SISA) in this notice are subsection 126A(2), which allows the Commissioner of Taxation to disqualify a person from performing certain roles in connection with superannuation entities, and subsection 126A(6), which requires the Commissioner to give notice of such a disqualification to the person affected. In this instance, Justin Betteridge has been disqualified from acting as a responsible officer due to the corporate trustee of one or more superannuation entities contravening the SISA while he was in that role. The Act imposes several obligations on the parties it governs. Notably, responsible officers of corporate trustees must adhere to the SISA, which includes, but is not limited to, ensuring compliance with legislative requirements and maintaining the integrity of superannuation funds. Failure to uphold these obligations can lead to disqualification, as it has for Justin Betteridge. Additionally, any person who has been disqualified must refrain from acting in any capacity that involves the management or oversight of superannuation entities unless and until the disqualification is revoked. There are significant consequences for breaches of the SISA, particularly for disqualified persons. Under section 126K of the SISA, it is an offence for a disqualified person to act as, or be, a trustee, investment manager, or custodian of a superannuation entity, or to be a responsible officer or a body corporate that holds such a position. The maximum penalty for this offence is two years imprisonment, highlighting the seriousness with which the Act treats non-compliance. Additionally, subsection 126A(7) mandates that details of this disqualification notice be published as a notifiable instrument in the Federal Register of Legislation, ensuring transparency and public accountability. Justin Betteridge has the right to seek reconsideration of the disqualification under section 344 of the SISA. If he is not satisfied with the decision, he must make a written request to the Commissioner within 21 days of receiving notice, outlining the reasons why he believes the decision is incorrect. Furthermore, under subsection 126A(5) of the SISA, the disqualification can be revoked either on the initiative of the Commissioner or upon a written application by Justin Betteridge himself. This provides a potential pathway for Justin to address the grounds for his disqualification and seek reinstatement.