Treasury Laws Amendment (2019 Measures No. 3) Act 2020 (64 of 2020)

Schedule 3   Miscellaneous amendments

Part 1   Amendments commencing day after Royal Assent

Superannuation (Unclaimed Money and Lost Members) Act 1999

54   Subsections 16(1A), (2) and (2A)

Repeal the subsections, substitute:

(2) The statement is not required to contain information relevant to unclaimed money that ceases to be unclaimed money during the period that:

(a) begins from the unclaimed money day; and

(b) ends immediately before the day on which the statement is given to the Commissioner.

(2A) If, at the end of the unclaimed money day:

(a) there is no unclaimed money, the statement must say so; or

(b) there is only unclaimed money that ceases to be unclaimed money during the period mentioned in subsection (2), the statement must say so.

Note: If the fund is a regulated superannuation fund that has fewer than 5 members, see subsection (2B).

(2B) Subsection (1) does not apply if, at the end of the unclaimed money day:

(a) the fund is a regulated superannuation fund that has fewer than 5 members; and

(b) either:

(i) there is no unclaimed money; or

(ii) there is only unclaimed money that ceases to be unclaimed money during the period mentioned in subsection (2).