Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009 (133 of 2009)

Schedule 3   Lost members' superannuation

Part 1   Amendment of the Superannuation (Unclaimed Money and Lost Members) Act 1999

4   Section 7

Omit:

Superannuation providers must pay to the Commissioner of Taxation any unclaimed money they hold. If the Commissioner is satisfied he or she has received such a payment in respect of a person, the Commissioner must pay the amount he or she has received to the person, to a fund identified by the person or, if the person has died, to the person's death beneficiaries or legal personal representative.

Substitute:

Superannuation providers must pay to the Commissioner of Taxation any unclaimed money they hold. Later, the Commissioner must, if satisfied that it is possible to do so, pay the amount he or she has received in respect of a person to:

(a) the person; or

(b) to a fund identified by the person; or

(c) if the person has died - to the person's death beneficiaries or legal personal representative.