Superannuation (Unclaimed Money and Lost Members) Act 1999
PART 3
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PAYMENT OF UNCLAIMED MONEY TO THE COMMISSIONER
Division 1
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Preliminary
SECTION 12
MEANING OF
UNCLAIMED MONEY
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GENERAL MEANING
12(1)
An amount payable to a member of a fund is taken to be unclaimed money if:
(a) the member has reached the eligibility age; and
(b) (Repealed by No 9 of 2007)
(c) the superannuation provider has not received an amount in respect of the member (and, in the case of a defined benefits superannuation scheme, no benefit has accrued in respect of the member) within the last 2 years; and
(d) after the end of a period of 5 years since the superannuation provider last had contact with the member, the provider has been unable to contact the member again after making reasonable efforts.
12(2)
If:
(a) a payment split applies to a splittable payment in respect of an interest that a person has as a member of a fund; and
(b) as a result, the non-member spouse (or his or her legal personal representative if he or she has died) is entitled to be paid an amount; and
(c) after making reasonable efforts and after a reasonable period has passed, the superannuation provider concerned is unable to ensure that the non-member spouse or his or her legal personal representative, as the case may be, receives the amount;
12(3)
(Repealed by No 133 of 2009)
View history note
Hide history noteAn amount payable to a member of a fund is taken to be unclaimed money if:
(a) the member has reached the eligibility age; and
(b) (Repealed by No 9 of 2007)
(c) the superannuation provider has not received an amount in respect of the member (and, in the case of a defined benefits superannuation scheme, no benefit has accrued in respect of the member) within the last 2 years; and
(d) after the end of a period of 5 years since the superannuation provider last had contact with the member, the provider has been unable to contact the member again after making reasonable efforts.
12(2)
If:
(a) a payment split applies to a splittable payment in respect of an interest that a person has as a member of a fund; and
(b) as a result, the non-member spouse (or his or her legal personal representative if he or she has died) is entitled to be paid an amount; and
(c) after making reasonable efforts and after a reasonable period has passed, the superannuation provider concerned is unable to ensure that the non-member spouse or his or her legal personal representative, as the case may be, receives the amount;
then the amount payable is taken to be unclaimed money .
12(3)
(Repealed by No 133 of 2009)
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