Notice of Disqualification – Rita Dipizio- 23 January 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted to address the need for effective regulation and oversight of the superannuation industry in Australia, aiming to protect the interests of superannuation fund members by ensuring that trustees and other responsible officers act in their best interests. The SISA was passed by the Commonwealth Parliament and its primary policy objective is to maintain the integrity and stability of the superannuation system by imposing strict compliance and governance requirements on trustees and other entities involved in the management of superannuation funds. The Act provides the Commissioner of Taxation with powers to disqualify individuals who have acted in a manner that warrants such action, thereby safeguarding the superannuation system from mismanagement and misconduct. This legislative framework ensures that trustees and responsible officers are held accountable for their actions, and that appropriate measures are taken to prevent and address any breaches of the Act.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to responsible officers of corporate trustees within the superannuation industry in Australia. The Act imposes obligations and sets standards for the management and operation of superannuation entities to protect the interests of superannuation fund members. In this case, the notice of disqualification issued to Rita Dipizio is pursuant to subsection 126A(6) of the SISA, which allows for the disqualification of individuals found to have acted in a manner that justifies such a penalty. This disqualification stems from the contravention of the SISA by the corporate trustee of one or more superannuation entities, for which Rita Dipizio was a responsible officer at the time. The disqualification is effective immediately upon issuance. The Act extends its reach across the Commonwealth of Australia, applying uniformly to all superannuation entities and their responsible officers nationwide. The notice of disqualification is also published as a Notifiable Instrument in the Federal Register of Legislation, ensuring transparency and accessibility of such decisions. Furthermore, the Act stipulates severe consequences for disqualified persons who continue to act in the prohibited capacities, with potential penalties including up to two years of imprisonment. The disqualification may be subject to revocation either by the Commissioner of Taxation on their own initiative or upon the written application of the disqualified person. Additionally, individuals affected by the decision have the right to request reconsideration by the Commissioner within 21 days of receiving the notice.

Key Provisions

The Superannuation Industry (Supervision) Act 1993 (SISA) includes provisions for the disqualification of responsible officers of corporate trustees who have contravened the Act. Specifically, subsection 126A(1) allows for disqualification if it is determined that the corporate trustee has breached the Act on one or more occasions, and the seriousness of these contraventions justifies the disqualification of the responsible officer. This disqualification takes effect immediately upon being issued, as stated in subsection 126A(6). This particular notice was issued to Rita Dipizio on 23 January 2026, by Ben Kelly, a delegate of the Commissioner of Taxation. The disqualification was based on Rita's position as a responsible officer during the contraventions by the corporate trustee. Under the Act, parties such as Rita Dipizio, who have been disqualified, are subject to specific obligations. For instance, section 126K stipulates that it is an offence for a disqualified person to act as a trustee, investment manager, or custodian of a superannuation entity, or to be associated with any entity in these roles. This provision is designed to prevent disqualified individuals from continuing to influence or manage superannuation entities, thereby protecting the interests of superannuation fund members. The Act also requires that details of the disqualification be published as a Notifiable Instrument in the Federal Register of Legislation, as mandated by subsection 126A(7). Failure to adhere to the disqualification provisions can result in significant consequences. Section 126K outlines that knowingly acting in the prohibited roles after disqualification is an offence, with a maximum penalty of two years imprisonment. This reflects the seriousness with which the Act treats breaches of disqualification orders. Additionally, the Act provides mechanisms for the disqualification to be revoked. As per subsection 126A(5), the disqualification can be revoked either on the initiative of the Commissioner or upon a written application by the disqualified person. Furthermore, section 344 allows for reconsideration of the decision by the Commissioner if the affected party submits a written request within 21 days of receiving the notice, providing reasons why the decision should be reconsidered.