Notice of Disqualification – Matthew John Burton- 8 August 2025

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted to address the need for robust oversight and regulation of the superannuation industry in Australia. This legislation was introduced to safeguard the interests of superannuation fund members by ensuring the integrity and competence of those managing these funds. The SISA empowers the Commissioner of Taxation to disqualify individuals from participating in the administration of superannuation funds where there are grounds to believe they have engaged in misconduct or serious contraventions of the Act. The disqualification serves as a protective measure to prevent potentially harmful actions by unfit individuals, thereby maintaining the stability and reliability of the superannuation system. The enactment of this Act reflects the Australian Parliament's commitment to protecting the financial security of superannuation fund members by enforcing high standards of conduct and governance within the industry.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and entities involved in the management and oversight of superannuation entities, including trustees, investment managers, custodians, and responsible officers. The Act operates on a national level, providing comprehensive regulation across Australia to ensure the integrity and proper administration of superannuation funds. The Act's jurisdiction extends to all trustees, investment managers, and custodians of superannuation entities, regardless of state or territory boundaries, ensuring a uniform regulatory environment. The Act includes provisions for disqualification of individuals found to have contravened its provisions seriously enough to warrant such action, as seen in the case of Matthew John Burton. This disqualification prohibits the individual from acting in certain capacities within the superannuation industry. Notably, the Act allows for potential revocation of the disqualification either by the Commissioner's office on its own initiative or upon written application by the disqualified person. Additionally, the Act provides a mechanism for the Commissioner to reconsider a decision if the affected party is dissatisfied, offering a pathway for review within 21 days of receiving the disqualification notice.

Key Provisions

The notice provided under section 126A(6) of the Superannuation Industry (Supervision) Act 1993 (SISA) informs Matthew John Burton that he has been disqualified from certain roles due to contraventions of the SISA. The decision to disqualify him is made under subsection 126A(1) and takes effect immediately upon issuance. This notice follows a determination that the seriousness of Burton’s contraventions justifies the disqualification. Under this legislation, Burton is now subject to restrictions that prevent him from acting as a trustee, investment manager, or custodian of a superannuation entity, or from being a responsible officer or a body corporate that performs these roles. These restrictions are outlined in section 126K, which imposes criminal penalties for any disqualified person who knowingly engages in these activities. The maximum penalty for such an offence is a two-year imprisonment term. The disqualification can be revoked either on the initiative of the authorities or upon Burton’s written application, as stipulated under subsection 126A(5). Additionally, Burton has the right to appeal the disqualification decision within 21 days of receiving the notice, as provided by section 344 of the SISA. This appeal must be submitted in writing and should detail the reasons why he believes the decision is incorrect. Publication of the disqualification notice as a notifiable instrument is also mandated under subsection 126A(7), ensuring transparency and public awareness of such decisions.