Notice of Disqualification – Scott West – 12 February 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted to address issues related to the governance and oversight of superannuation funds in Australia, aiming to protect the interests of fund members by ensuring proper management and compliance. The Act was introduced by the Australian Parliament to provide a regulatory framework that ensures the integrity and stability of the superannuation industry. The overarching policy objective of the SISA is to maintain high standards of conduct and accountability within the superannuation industry, thereby safeguarding the financial well-being of superannuation members. The Act empowers the Commissioner of Taxation to disqualify individuals who contravene its provisions, as evidenced by the notice of disqualification issued to Scott West, highlighting the seriousness with which breaches of the Act are treated.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and entities involved in the administration and management of superannuation entities, including trustees, investment managers, and custodians. The scope of the Act extends to conduct and transactions that relate to superannuation funds, and it is enforced at the Commonwealth level. The Act includes provisions for disqualifying individuals from participating in the management of superannuation entities if they have contravened the Act. The disqualification can be initiated by a delegate of the Commissioner of Taxation and, once in effect, prohibits the disqualified person from acting as a trustee, investment manager, or custodian of a superannuation entity, or from being a responsible officer of a body corporate that serves in these capacities. This prohibition is intended to protect the interests of superannuation fund members and ensure the integrity of the superannuation industry. The Act allows for the disqualification to be revoked either by the delegate or upon the application of the disqualified person. Additionally, the Act provides a mechanism for the Commissioner to reconsider the disqualification decision if the affected party is dissatisfied with the outcome. The disqualification notice and details are published as a Notifiable Instrument in the Federal Register of Legislation, ensuring transparency and public accessibility to such decisions.

Key Provisions

The Superannuation Industry (Supervision) Act 1993 (SISA) contains various provisions related to the disqualification of individuals involved in the superannuation industry. In this case, Scott West has been disqualified under subsection 126A(2) of the SISA by a delegate of the Commissioner of Taxation, Ben Kelly, as of 12 February 2026. The disqualification is based on the delegate’s satisfaction that Mr. West has contravened the SISA on multiple occasions, warranting such action. The effect of the disqualification is immediate upon its issuance. According to the Act, the disqualification of individuals like Mr. West imposes several obligations and requirements on them. Notably, under section 126K of the SISA, it is an offence for a disqualified person who is aware of their disqualification to act as a trustee, investment manager, or custodian of a superannuation entity, or to be a responsible officer or a body corporate involved in these roles. This prohibition extends to any person who acts in these capacities on behalf of a disqualified individual. Compliance with these provisions is crucial to avoid legal repercussions. Failure to adhere to the disqualification can result in significant consequences. Under the SISA, knowingly acting in any of the prohibited roles while disqualified constitutes an offence. The maximum penalty for such an offence is a two-year imprisonment term, highlighting the seriousness of non-compliance. Additionally, the disqualification details will be published as a Notifiable Instrument in the Federal Register of Legislation, as required by subsection 126A(7) of the SISA. This public notice serves to inform the industry and the public of the disqualification. Furthermore, Mr. West has the right to seek reconsideration of the disqualification decision if he is dissatisfied with it. Under section 344 of the SISA, this request must be made in writing within 21 days of receiving the notice of the decision, providing the reasons for believing the decision is incorrect. Additionally, the disqualification may be revoked by the delegate on their own initiative or upon a written application by Mr. West, as permitted under subsection 126A(5) of the SISA. This flexibility allows for potential reinstatement under certain conditions.