NOTICE OF DISQUALIFICATION
Superannuation Industry (Supervision) Act 1993
To:
Mr Gregory Whitehouse
BERRIMAH NT 0828
I, Alison Lendon, 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 subsection126A(3) of the SISA.
I have disqualified you as I am satisfied that you are not a fit and proper person to be a trustee, or a responsible officer of a body corporate that is a trustee, of a superannuation entity for the purposes of the SISA.
The disqualification takes effect on the day on which it is made.
Dated: 20 July 2015
Alison Lendon
Deputy Commissioner of Taxation
Per Bernard Morrison
Note 1:
In accordance with subsection 126A(7) of the SISA, particulars of this disqualification notice will be published in the Gazette.
Note 2:
In accordance with subsection 126A(5) of the SISA, we may revoke this disqualification on our own initiative or on written application made by you.
Note 3:
In accordance with section 344 of the SISA, if you are a person who is affected by this decision and you are dissatisfied with it, you may ask the Commissioner to reconsider this decision. Such a request must be made in writing within 21 days after the day on which you received notice of the decision and must also give the reasons for making the request.
Overview
The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted by the Parliament of Australia to provide a regulatory framework for the supervision of superannuation funds and entities. The act was introduced to address issues of governance and management within the superannuation industry, ensuring that trustees and responsible officers of superannuation entities are fit and proper persons. This was crucial to safeguard the interests of superannuation fund members, particularly in light of the significant sums involved and the long-term nature of superannuation savings. The act empowers the Commissioner of Taxation to disqualify individuals from acting as trustees or responsible officers if they are not deemed fit and proper, thereby maintaining high standards of integrity and competence within the industry. The policy objective of the SISA is to protect the rights and interests of superannuation fund members by ensuring that those who manage their funds are trustworthy and capable.
Scope and Application
The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and entities involved in the administration of superannuation funds, particularly focusing on trustees and responsible officers of bodies corporate that are trustees. This act extends to the entire Commonwealth of Australia, with its provisions enforceable across all states and territories. The act aims to ensure that those involved in the supervision of superannuation entities are fit and proper persons, thereby safeguarding the interests of superannuation fund members. The scope of the act is enforced through specific provisions that allow for the disqualification of individuals deemed unfit to serve as trustees or responsible officers, as evidenced by the notice given to Mr Gregory Whitehouse under subsection 126A(6) of the SISA. Additionally, the act permits the Commissioner to revoke disqualifications and allows affected parties to request reconsideration of decisions within 21 days of receiving notice, as outlined in section 344 of the SISA.
Key Provisions
The Superannuation Industry (Supervision) Act 1993 (SISA) includes provisions for the disqualification of individuals deemed unfit to serve as trustees or responsible officers of superannuation entities. Specifically, under section 126A, a delegate of the Commissioner of Taxation can disqualify an individual if they are not deemed a fit and proper person to hold such a role. This was the action taken in the case of Mr Gregory Whitehouse, who was disqualified under subsection 126A(3) based on a determination by Alison Lendon, a delegate of the Commissioner of Taxation. The notice of disqualification, dated 20 July 2015, clearly states the reasons for the disqualification and the effective date of the decision.
The Act imposes obligations on individuals who are trustees or responsible officers of superannuation entities to maintain their fitness and propriety in such roles. This includes adhering to the legal and ethical standards set forth by the SISA to ensure the proper management and supervision of superannuation funds. Failure to meet these standards can result in the disqualification process being initiated by the Commissioner of Taxation. Furthermore, entities that continue to employ or engage individuals who have been disqualified must take immediate steps to rectify this situation, which may include appointing new trustees or responsible officers to ensure compliance with the Act.
In terms of consequences, the SISA outlines both civil and administrative penalties for breaches of its provisions. Disqualification from serving as a trustee or responsible officer is a significant administrative penalty that can severely impact an individual's professional career, particularly within the superannuation industry. The disqualification can be revoked by the Commissioner of Taxation, either on their own initiative or upon written application by the disqualified individual, provided there are sufficient grounds to support such a revocation. Additionally, if an affected person is dissatisfied with the decision, they have the right to request a reconsideration by the Commissioner within 21 days of receiving the notice of disqualification. This provision ensures that there is a mechanism for addressing any perceived injustices in the disqualification process.