Notice of Disqualification – Kathleen Stenhouse – 19 January 2026

Overview

The Superannuation Industry (Supervision) Act 1993 was enacted to address the need for regulation and oversight within the superannuation industry in Australia. The Act was introduced to ensure the proper administration, management, and regulation of superannuation entities, including industry superannuation funds, public sector superannuation funds, and retail superannuation funds. The policy objective was to protect the interests of superannuation fund members by promoting efficient, honest, and responsible administration of these funds. Enacted by the Commonwealth Parliament, the Act provides the Commissioner of Taxation with the authority to regulate and oversee the superannuation industry to maintain the integrity and stability of the superannuation system. The Act includes provisions for the disqualification of individuals who have contravened its requirements, with the aim of preventing those who have acted in a manner that is detrimental to the interests of superannuation fund members from participating in the administration of these funds. The Act empowers the Commissioner of Taxation, or their delegate, to disqualify individuals from being involved in the management or administration of superannuation entities if they are found to have contravened the Act. This disqualification serves as a deterrent to improper conduct and helps maintain the integrity of the superannuation industry.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to any person who is or has been involved in the administration or management of a superannuation entity, including trustees, investment managers, and custodians. The Act extends across the Commonwealth of Australia, governing the conduct and transactions associated with superannuation entities. The Act also provides for the disqualification of individuals who have breached its provisions, which can be done by a delegate of the Commissioner of Taxation as evidenced in the notice to Kathleen Stenhouse. This disqualification prevents the person from acting as a trustee, investment manager or custodian of a superannuation entity, or being a responsible officer of a body corporate that performs these roles. The consequences of contravening these provisions are severe, with a potential penalty of up to two years in jail. Furthermore, the Act allows for the revocation of such disqualifications under certain conditions, and provides a mechanism for reconsideration of the decision by the Commissioner if the affected party is dissatisfied.

Key Provisions

The Superannuation Industry (Supervision) Act 1993 (SISA) includes a provision under subsection 126A(6) that allows for the disqualification of individuals who contravene the Act. In the case of Kathleen Stenhouse, she has been disqualified by Ben Kelly, a delegate of the Commissioner of Taxation, due to her contravention of the SISA. This disqualification is based on the seriousness of the contraventions, which provides sufficient grounds for such action. The disqualification takes immediate effect on the date of the notice, which was 19 January 2026. Under the Act, Kathleen Stenhouse is now prohibited from acting as a trustee, investment manager, or custodian of a superannuation entity, or being a responsible officer or a body corporate that is a trustee, investment manager, or custodian, of a superannuation entity, as outlined in section 126K. This restriction is crucial to protect the integrity and proper management of superannuation funds. If Kathleen Stenhouse knowingly contravenes these provisions, she commits an offence that carries a maximum penalty of two years in jail. Furthermore, the disqualification notice, as detailed in subsection 126A(7) of the SISA, will be published as a Notifiable Instrument in the Federal Register of Legislation. This public notification ensures transparency and informs relevant parties of the disqualification. Kathleen Stenhouse also has the right to request a reconsideration of the decision within 21 days of receiving the notice, as stipulated in section 344 of the SISA. Additionally, the disqualification may be revoked on Ben Kelly's initiative or based on a written application from Kathleen Stenhouse, as provided in subsection 126A(5) of the SISA.