Notice of Disqualification – Trevor Rowland Lewis - 15 April 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted by the Parliament of Australia to address issues related to the regulation and supervision of the superannuation industry. This legislation was introduced to ensure that the management and administration of superannuation funds are conducted in a manner that protects the interests of fund members, particularly in relation to financial integrity and compliance with regulatory standards. The Act provides a framework for the oversight of trustees, investment managers, and custodians of superannuation entities to prevent misconduct and ensure that funds are managed prudently and transparently. The policy objective of SISA is to safeguard the superannuation savings of Australians by maintaining high standards of governance, accountability, and ethical conduct within the industry. This is achieved through the imposition of licensing requirements, ongoing monitoring, and the power to disqualify individuals found to have breached the provisions of the Act.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and entities involved in the supervision and administration of superannuation entities, which include trustees, investment managers, custodians, and responsible officers of these entities. The jurisdictional reach of the Act is Commonwealth, governing the operation of superannuation entities across Australia. The Act provides for the disqualification of individuals who contravene the Act's provisions, with the specific grounds for disqualification outlined in the legislation. Exclusions or exemptions from the Act are limited, and its application can be extended through subordinate instruments. Notably, the Act imposes significant penalties, including a maximum of two years imprisonment, for disqualified persons who continue to act in roles that they are prohibited from holding. The Act also allows for the revocation of disqualifications and provides a mechanism for reconsideration of decisions by the Commissioner.

Key Provisions

The notice of disqualification under subsection 126A(6) of the Superannuation Industry (Supervision) Act 1993 (SISA) informs Trevor Rowland Lewis that he has been disqualified from acting in certain capacities within the superannuation industry. This decision is made due to the Commissioner of Taxation being satisfied that Lewis has contravened the SISA on multiple occasions, and the nature and severity of these contraventions warrant his disqualification. The disqualification becomes effective on the day the notice is issued. Under this Act, Lewis is prohibited from acting as a trustee, investment manager, or custodian of a superannuation entity, or from being a responsible officer or a body corporate that acts in any of these roles. This prohibition is outlined in section 126K of the SISA, and the penalties for contravening this restriction are severe. Specifically, knowingly acting in any of these capacities while disqualified can result in criminal charges and a potential maximum penalty of two years in jail. Additionally, the Act provides mechanisms for potential revocation of the disqualification. Subsection 126A(5) of the SISA allows for the disqualification to be revoked either at the initiative of the Commissioner or following a written application by Lewis. There is also a provision for reconsideration of the disqualification decision under section 344 of the SISA. If Lewis believes the decision is unjust, he can request the Commissioner to reconsider it in writing within 21 days of receiving the notice, providing reasons for why he thinks the decision is incorrect.