Taxation Laws Amendment Act (No. 3) 1993 (118 of 1993)

Part 10   AMENDMENT OF THE SUPERANNUATION GUARANTEE (ADMINISTRATION) ACT 1992

Division 2   The OSS system

151   Payment of shortfall component

Section 65 of the Principal Act is amended:

(a) by inserting in paragraph (1)(a) ", or to a complying approved deposit fund," after "complying superannuation fund";
            

(b) by adding at the end the following subsections:
            

"(3) A payment of a shortfall component made or arranged by the Commissioner for the benefit of an employee to an approved deposit fund is conclusively presumed to be a payment to a complying approved deposit fund for the purposes of subsection (1) if subsection (4) applies.

"(4) This subsection applies if, at the time the payment is made, the Commissioner has obtained a written statement, provided by or on behalf of the trustee of the fund, that the fund is operated in accordance with the approved deposit fund conditions under the Occupational Superannuation Standards Act 1987.".