Notice of Disqualification - Mr Brett D Hartwig

Overview

The Superannuation Industry (Supervision) Act 1993 was enacted to address the need for effective oversight and regulation of the superannuation industry in Australia, ensuring the protection of superannuation funds and the interests of fund members. The Act was introduced by the Commonwealth Parliament and aims to maintain the integrity, efficiency, and soundness of the superannuation industry. In the case of Mr Brett D Hartwig, a disqualification notice under the Act was issued by a delegate of the Commissioner of Taxation, citing multiple contraventions of the Act by the corporate trustee of one or more superannuation entities while he was a responsible officer. This disqualification notice, effective immediately, prohibits Mr Hartwig from acting as a trustee, investment manager, or custodian of a superannuation entity, with potential criminal penalties for non-compliance. The decision can be appealed, and the disqualification may be revoked under certain conditions.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to responsible officers of corporate trustees of superannuation entities, aiming to ensure compliance with the Act's provisions. This legislation imposes a disqualification on Mr Brett D Hartwig, who was a responsible officer of a corporate trustee that contravened the SISA. The Act's jurisdictional reach is national, as it is a Commonwealth Act, impacting the entire country. The disqualification prohibits Mr Hartwig from acting as a trustee, investment manager, or custodian of a superannuation entity, or as a responsible officer of such entities, with serious penalties for non-compliance, including a maximum of two years in jail. This disqualification extends to the entire Commonwealth of Australia, and it is enforceable under the criminal provisions of the SISA. Any revocation of the disqualification must be initiated either by the Commissioner or by Mr Hartwig himself. Additionally, if Mr Hartwig is dissatisfied with the decision, he can request the Commissioner to reconsider the decision within 21 days of receiving notice, providing reasons for his dissatisfaction.

Key Provisions

The Superannuation Industry (Supervision) Act 1993 (SISA) includes provisions for the disqualification of individuals involved in superannuation entities. Section 126A(2) and (6) of the Act empower a delegate of the Commissioner of Taxation to disqualify a person if they believe that the corporate trustee of one or more superannuation entities has contravened the Act and the individual was a responsible officer during the contraventions. Subsection 126A(7) mandates that details of such a disqualification notice be published in the Commonwealth Government Notices Gazette. The Act imposes specific obligations on parties and entities it governs. Section 126K stipulates that a disqualified person, knowing they are disqualified, must not act as a trustee, investment manager, or custodian of a superannuation entity, or serve as a responsible officer or body corporate for such roles. This includes ensuring compliance with all relevant provisions of the SISA. Failure to adhere to these obligations can lead to serious consequences. The Act provides for specific offences and penalties for breaches. Under section 126K, the maximum penalty for a disqualified person knowingly acting in contravention of their disqualification is two years imprisonment. This stringent penalty underscores the importance of adhering to the Act's provisions and the severe consequences of non-compliance. Additionally, section 344 allows a disqualified person who is dissatisfied with the decision to request a reconsideration from the Commissioner within 21 days of receiving notice of the disqualification, providing an opportunity to contest the decision on specified grounds.