Treasury Laws Amendment (Reuniting More Superannuation) Regulations 2021 (F2021L00412)

Schedule 1   Amendments

Superannuation Industry (Supervision) Regulations 1994

47   Subregulation 7A.16(6)

Repeal the subregulation, substitute:

(6) If the trustee of the transferor fund believes, on reasonable grounds and after making reasonable inquiries, that the non-member spouse has not given a consent mentioned in subregulation (5), the trustee must:

(a) consider whether it would be in the best interests of the non-member spouse to pay the amount to the Commissioner under section 22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999; and

(b) if the trustee does not pay the amount to the Commissioner under section 22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 - allocate the amount to an interest that the trustee creates for the non-member spouse in the regulated superannuation fund or approved deposit fund.