Notice of Disqualification – Zoran Mazevski – 25 February 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted by the Commonwealth Parliament to regulate the superannuation industry in Australia. This Act was introduced to address the need for better governance and oversight of superannuation funds, ensuring that trustees, investment managers, and custodians act in the best interests of fund members. The primary policy objective of the SISA is to protect superannuation savings by promoting efficient, honest, and responsible management of superannuation entities. This includes the power to disqualify individuals who are found to have contravened the Act, as demonstrated in the disqualification notice issued to Zoran Mazevski. This legislative measure aims to deter misconduct and maintain the integrity of the superannuation system. The notice to Zoran Mazevski, issued by a delegate of the Commissioner of Taxation, highlights the Act’s role in enforcing compliance and holding individuals accountable for breaches.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and entities involved in the management and administration of superannuation funds in Australia, ensuring compliance with standards designed to protect the interests of superannuation fund members. The Act covers a broad spectrum of conduct and transactions, specifically targeting trustees, investment managers, custodians, and responsible officers of superannuation entities. Its jurisdictional reach is Commonwealth-wide, applying uniformly across all states and territories of Australia. The Act does not explicitly delineate exclusions or exemptions; however, it does provide provisions for potential revocation of disqualifications and mechanisms for reconsideration of decisions. Notably, the Act can extend its application through subordinate instruments, which may provide further clarity and detailed guidelines on its implementation. In this particular instance, Zoran Mazevski has been disqualified under subsection 126A(2) of the SISA for contravening the Act, and the details of this disqualification will be published as a Notifiable Instrument in the Federal Register of Legislation.

Key Provisions

The main operative sections of the Superannuation Industry (Supervision) Act 1993 (SISA) in this context are subsections 126A(2) and 126A(6). Subsection 126A(2) empowers the delegate of the Commissioner of Taxation to disqualify an individual if they are satisfied that the individual has contravened the SISA on multiple occasions, warranting disqualification. Subsection 126A(6) requires the delegate to provide written notice of the disqualification to the affected individual, which is demonstrated in the notice to Zoran Mazevski. This notice confirms that Zoran Mazevski has been disqualified under subsection 126A(2) and informs him that the disqualification is effective from the date of the notice, 25 February 2026. The Act imposes several obligations and requirements on parties such as Zoran Mazevski, who have been disqualified. Most critically, it prohibits a disqualified person from acting as a trustee, investment manager, or custodian of a superannuation entity, or from being a responsible officer or a body corporate that engages in such roles for a superannuation entity. These prohibitions are outlined in section 126K of the SISA, which also states that any contravention of these prohibitions is an offence. The SISA provides for significant penalties for breaches of its provisions, particularly for those who knowingly contravene the disqualification orders. Section 126K makes it an offence for a disqualified person to act in any of the prohibited capacities, with a maximum penalty of two years imprisonment. Additionally, the disqualification can be revoked under subsection 126A(5) either on the initiative of the delegate or upon a written application from the disqualified person. Finally, section 344 allows the Commissioner to reconsider a decision if the affected party is dissatisfied with it, provided that a written request for reconsideration is made within 21 days of receiving the notice, detailing the reasons for dissatisfaction.