Notice of Revocation of Disqualification – Lachlan Pascoe - 15 January 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted to address the need for comprehensive regulation and oversight of the superannuation industry in Australia, aiming to protect the interests of superannuation fund members. This Act provides the framework for the licensing, monitoring, and enforcement actions against entities involved in the administration of superannuation funds, ensuring that they comply with the necessary standards and obligations. The SISA was introduced to fill the gap in providing a robust regulatory environment that safeguards the financial well-being of superannuation fund members and maintains the integrity of the superannuation system. Enacted by the Parliament of Australia, the policy objective of the SISA is to ensure that the superannuation industry operates in a manner that is fair, efficient, and transparent, thereby fostering trust and confidence among participants.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and entities involved in the superannuation industry, particularly trustees of superannuation funds, responsible entities, and other designated persons. This Act governs the conduct and management of superannuation funds to ensure they are operated in the best interests of members. The jurisdictional reach of the SISA is Commonwealth-wide, impacting entities and individuals operating within Australia. The Act sets out provisions for the disqualification of individuals from managing superannuation funds if they are found to have engaged in misconduct or breaches of the law. The revocation of a disqualification order, such as the one addressed to Lachlan Pascoe, is subject to specific conditions outlined in the Act. Exclusions and exemptions from the Act’s provisions are limited and typically defined within the Act itself, with any additional application or restrictions being set out through subordinate instruments authorised by the Act. The revocation of a disqualification notice, as in the case of Lachlan Pascoe, is formally communicated and subsequently published as a Notifiable Instrument in the Federal Register of Legislation, ensuring transparency and public awareness of such decisions.

Key Provisions

The key operative sections of the document are subsections 126A(5) and 126A(6) of the Superannuation Industry (Supervision) Act 1993 (SISA). These subsections empower the delegate of the Commissioner of Taxation to make a decision to revoke a disqualification order and to issue a notice of revocation to the affected individual, respectively. The revocation of the disqualification order is effective from the date the notice is made, as per subsection 126A(7) of the SISA. The Act imposes certain obligations on the parties involved. The delegate of the Commissioner of Taxation, in this case Ben Kelly, must make a decision to revoke the disqualification order and issue a formal notice to the individual, Lachlan Pascoe, as outlined in subsections 126A(5) and 126A(6) of the SISA. Lachlan Pascoe, who is the recipient of the notice, must then be informed of the revocation of the disqualification order and its effective date. There are no specific offences, penalties, or civil/criminal consequences mentioned in the notice itself for the revocation of a disqualification order. However, the original disqualification order that was issued to Lachlan Pascoe on 27 November 2024 would have been subject to penalties and consequences as per the provisions of the SISA and any related legislation. The revocation of the disqualification order does not necessarily imply that any previous breaches or offences have been resolved; it simply means that the disqualification order is no longer in effect. Any further breaches or non-compliance with the SISA or related legislation may result in additional penalties or consequences.