Notice of Disqualification – Vania Primmer – 17 November 2025

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. The Act aims to protect the interests of superannuation fund members by ensuring the industry is managed responsibly and transparently. The SISA was introduced by the Australian Parliament to fill the gap in the regulatory framework that could potentially expose members to significant financial risks if their funds were not properly managed. The policy objective of the Act is to maintain the integrity and stability of the superannuation system by imposing strict regulatory requirements on entities involved in the management of superannuation funds. This legislative instrument serves as a formal notice of disqualification issued under the SISA. Vania Primmer has been disqualified due to contraventions of the Act, which have been determined to warrant such action. The disqualification notice, issued by Ben Kelly as a delegate of the Commissioner of Taxation, specifies that the contraventions provide grounds for disqualification, and it takes immediate effect upon issuance. The details of this disqualification will be published as a Notifiable Instrument in the Federal Register of Legislation, ensuring transparency and public accountability. Any disqualified person who acts in prohibited roles within the superannuation industry, knowing they are disqualified, faces the risk of criminal penalties, including up to two years in jail. The disqualification may be subject to revocation under certain conditions, and affected parties have the right to request a reconsideration of the decision within 21 days of receiving the notice.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals who are or have been involved in the administration or management of superannuation entities, including trustees, investment managers, custodians, and responsible officers. This legislation has a Commonwealth jurisdictional reach, governing activities across Australia, and its application is not limited to specific states or territories. The Act provides for the disqualification of individuals who contravene its provisions, with the disqualification taking immediate effect upon notice. The notice of disqualification is published as a Notifiable Instrument in the Federal Register of Legislation, ensuring transparency and public access to such decisions. It is an offence under the Act for a disqualified person to continue to act in any capacity related to the management of a superannuation entity, with the potential penalty being up to two years in jail. The disqualification can be revoked by the Commissioner either on their own initiative or in response to a written application from the disqualified person. Furthermore, the Act provides a mechanism for reconsideration of the disqualification decision by the Commissioner if the affected person is dissatisfied with the outcome.

Key Provisions

The Superannuation Industry (Supervision) Act 1993 (SISA) includes key provisions such as disqualification under subsection 126A(1) and the issuance of a notice of disqualification as outlined in subsection 126A(6). Section 126A(1) allows for the disqualification of an individual who has contravened the SISA on multiple occasions, which provides grounds for such action. This disqualification notice is immediately effective upon issuance, as stated in the notice given to Vania Primmer dated 17 November 2025. The Act imposes specific obligations on disqualified individuals, such as the requirement not to act as a trustee, investment manager, or custodian of a superannuation entity, nor to be a responsible officer of a body corporate involved in these roles. This is articulated under section 126K of the SISA, which underscores the seriousness of the disqualification by imposing a maximum penalty of two years imprisonment for any contraventions. The notice also highlights that the details of the disqualification will be published in the Federal Register of Legislation as a Notifiable Instrument, as required by subsection 126A(7). Additionally, the Act provides mechanisms for the revocation of the disqualification. Under subsection 126A(5), the disqualification may be revoked either on the initiative of the authorities or upon the written application of the disqualified person. For those adversely affected by the disqualification decision, section 344 of the SISA offers a recourse. An affected person can request a reconsideration of the decision within 21 days of receiving the notice, provided that the request is made in writing and includes the reasons why the decision is deemed incorrect. This ensures a formal and structured process for appeal and rectification.