Notice of Disqualification – Samara Jayne Thompson - 17 June 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted by the Parliament of Australia to regulate the superannuation industry, ensuring that superannuation entities are managed responsibly and in the best interests of members. This Act aims to address issues of governance and integrity within the superannuation sector by establishing a framework for the supervision of superannuation entities, including provisions for disqualifying individuals who are unfit to manage these entities. The enactment of the SISA was driven by a need to protect superannuation funds and the financial interests of members, ensuring that trustees and responsible officers adhere to stringent standards of conduct and compliance. The policy objective of the Act is to maintain the integrity and stability of the superannuation system by preventing and addressing misconduct and mismanagement within the industry.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and corporate entities that manage superannuation funds, including trustees, responsible officers, investment managers, and custodians. This federal legislation governs the conduct and operations of superannuation entities to ensure the protection and proper management of superannuation funds. The Act’s jurisdiction extends across Australia, with its provisions applicable to all states and territories, thereby ensuring a uniform regulatory environment for superannuation trustees and officers. The Act does not specify exclusions or exemptions but sets out strict criteria for disqualifying individuals from holding responsible positions within superannuation entities if they are deemed unfit or have contravened the Act’s provisions. The application and scope of the Act may be further defined or extended through subordinate instruments, which can introduce additional regulations or clarifications to support the overarching objectives of the Act.

Key Provisions

The main operative sections of the notice of disqualification issued to Samara Jayne Thompson under the Superannuation Industry (Supervision) Act 1993 (SISA) include subsections 126A(2), 126A(3), and 126A(6). These sections require that Samara Jayne Thompson has been disqualified from holding any position as a trustee, responsible officer, or similar role in a superannuation entity due to the contraventions by the corporate trustee for which she was responsible at the time. The disqualification is made effective on the date the notice is issued, which in this case is 17 June 2026. The notice of disqualification imposes obligations on Samara Jayne Thompson by explicitly prohibiting her from acting or being appointed as a trustee, responsible officer, or in any similar capacity within a superannuation entity. The obligations extend to ensuring she does not contravene the SISA in any future role within the superannuation industry. Additionally, the notice informs her of the grounds for the disqualification, which include the contraventions committed by the corporate trustee and her unfitness to hold such a position. Failure to comply with the disqualification may result in serious legal consequences. Section 126K of the SISA sets out that it is an offence for a disqualified person to act or be appointed as a trustee, investment manager, custodian, or responsible officer of a superannuation entity. The maximum penalty for this offence is imprisonment for up to two years. This underscores the seriousness with which the SISA treats breaches of its provisions and the importance of adhering to the imposed disqualification. There are also provisions for the disqualification to be potentially revoked. According to subsection 126A(5) of the SISA, the disqualification may be revoked either on the initiative of the authorities or upon a written application from the disqualified person, Samara Jayne Thompson. Additionally, section 344 of the SISA allows for the Commissioner to reconsider the disqualification decision if she is dissatisfied with it, provided that a written request is made within 21 days of receiving the notice, detailing the reasons for her dissatisfaction. These provisions offer a formal avenue for reconsideration and potential reinstatement if certain conditions are met.