Superannuation (Unclaimed Money and Lost Members) Act 1999

S 4(1) amended by No 59 of 2015, s 3 and Sch 2 item 342, by substituting "and of the Northern Territory" for ", of the Northern Territory and of Norfolk Island", effective 1 July 2016.

S 6 amended by No 24 of 2021, s 3 and Sch 2 items 15-18, by inserting para (a)(iic), (dc), (e)(vi) and (eb)(v), effective 29 March 2021.

S 6 amended by No 24 of 2021, s 3 and Sch 1 items 18-21, by inserting para (a)(iia), (a)(iib), (db), (e)(v) and (eb)(iv), effective 23 March 2021.

S 6 amended by No 16 of 2019, s 3 and Sch 3 items 16-18, by inserting para (da), (e)(iv) and (eb), effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

S 6 amended by No 133 of 2009, s 3 and Sch 3 items 1 to 3, by substituting para (a), repealing para (ca) and substituting paras (e) and (ea), applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

Paras (a), (ca), (e) and (ea) formerly read:

(a) the keeping of registers of details relating to unclaimed money, so that the money can be claimed by persons entitled to it; and

(ca) the making of certain payments relating to superannuation of persons who used to be holders of temporary visas under the Migration Act 1958 and have left Australia; and

(e) the safe-keeping of unclaimed money until the money is claimed by a person entitled to it; and

(ea) the safe-keeping of certain amounts relating to superannuation of persons who used to be holders of temporary visas under the Migration Act 1958 and have left Australia; and

S 6 amended by No 151 of 2008, s 3 and Sch 1 items 2 and 3, by inserting paras (ca) and (ea), effective 18 December 2008.

S 7 amended by No 127 of 2021, s 3 and Sch 3 items 75-77, by substituting "If the Commissioner is satisfied the Commissioner has received a payment under this Act for such a member, the Commissioner must pay the amount received (and interest, in some cases) to: (a) the member; or (b) a fund identified by the member; or (c) a KiwiSaver scheme provider identified by the member; or (d) if the member has died - the member's death beneficiaries or legal personal representative." for "If the Commissioner is satisfied he or she has received a payment under this Act for such a member, the Commissioner must pay the amount he or she has received (and interest, in some cases) to the member, to a fund identified by the member or, if the member has died, to the member's death beneficiaries or legal personal representative.", "Superannuation of eligible rollover fund members Superannuation providers who are trustees of eligible rollover funds must, by 30 June 2021 and 31 January 2022, give the Commissioner of Taxation details relating to accounts of those funds. Superannuation providers must pay to the Commissioner of Taxation the value of any such accounts. Payments must be made by 30 June 2021 (for accounts that had balances of less than $6,000 on 1 June 2021) and 31 January 2022 (for all other accounts). Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) to a KiwiSaver scheme provider identified by the person; or (c) if the person has reached eligibility age or the amount is less than $200 - to the person; or (d) if the person has died - to the person's death beneficiaries or legal personal representative." for "Superannuation of eligible rollover fund members Superannuation providers who are trustees of eligible rollover funds must, by 30 June 2021 and 31 January 2022, give the Commissioner of Taxation details relating to accounts of those funds. Superannuation providers must pay to the Commissioner of Taxation the value of any such accounts. Payments must be made by 30 June 2021 (for accounts that had balances of less than $6,000 on 1 June 2021) and 31 January 2022 (for all other accounts). Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) if the person has reached eligibility age or the amount is less than $200 - to the person; or (c) if the person has died - to the person's death beneficiaries or legal personal representative." and "Voluntary payments by superannuation providers A superannuation provider may pay to the Commissioner of Taxation any amount it holds on behalf of a member, former member or non-member spouse if it reasonably believes paying the amount to the Commissioner is in the best interests of the member, former member or non-member spouse. Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) to a KiwiSaver scheme provider identified by the person; or (c) if the person has reached eligibility age or the amount is less than $200 - to the person; or (d) if the person has died - to the person's death beneficiaries or legal personal representative." for "Voluntary payments by superannuation providers A superannuation provider may pay to the Commissioner of Taxation any amount it holds on behalf of a member, former member or non-member spouse if it reasonably believes paying the amount to the Commissioner is in the best interests of the member, former member or non-member spouse. Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) if the person has reached eligibility age or the amount is less than $200 - to the person; or (c) if the person has died - to the person's death beneficiaries or legal personal representative." for "Voluntary payments by superannuation providers A superannuation provider may pay to the Commissioner of Taxation any amount it holds on behalf of a member, former member or non-member spouse if it reasonably believes paying the amount to the Commissioner is in the best interests of the member, former member or non-member spouse. Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) if the person has reached eligibility age or the amount is less than $200 - to the person; or (c) if the person has died - to the person's death beneficiaries or legal personal representative.", applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 7 amended by No 118 of 2020, s 3 and Sch 2 items 7, 8 and 35, by inserting para (ba) and substituting "Superannuation of lost members At the times determined by the Commissioner, superannuation providers must give the Commissioner of Taxation details relating to: (a) small accounts of lost members; and (b) inactive accounts of unidentifiable lost members. Superannuation providers must pay to the Commissioner of Taxation the value of any such accounts. Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) to a KiwiSaver scheme provider identified by the person; or (c) if the person has reached eligibility age or the amount is less than $200 - to the person; or (d) if the person has died - to the person's death beneficiaries or legal personal representative. Superannuation of inactive low-balance members At times determined by the Commissioner, superannuation providers must give the Commissioner of Taxation details relating to inactive low-balance accounts. Superannuation providers must pay to the Commissioner of Taxation the value of any such accounts. Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) to a KiwiSaver scheme provider identified by the person; or (c) if the person has reached eligibility age or the amount is less than $200 - to the person; or (d) if the person has died - to the person's death beneficiaries or legal personal representative." for "Superannuation of lost members At the times determined by the Commissioner, superannuation providers must give the Commissioner of Taxation details relating to: (a) small accounts of lost members; and (b) inactive accounts of unidentifiable lost members. Superannuation providers must pay to the Commissioner of Taxation the value of any such accounts. Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount he or she has received in respect of a person: (a) to a fund identified by the person; or (b) if the person has reached eligibility age or the amount is less than $200 - to the person; or (c) if the person has died - to the person's death beneficiaries or legal personal representative. Superannuation of inactive low-balance members At times determined by the Commissioner, superannuation providers must give the Commissioner of Taxation details relating to inactive low-balance accounts. Superannuation providers must pay to the Commissioner of Taxation the value of any such accounts. Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) if the person has reached eligibility age or the amount is less than $200 - to the person; or (c) if the person has died - to the person's death beneficiaries or legal personal representative." and "Superannuation of eligible rollover fund members Superannuation providers who are trustees of eligible rollover funds must, by 30 June 2020 and 30 June 2021, give the Commissioner of Taxation details relating to accounts of those funds. Superannuation providers must pay to the Commissioner of Taxation the value of any such accounts. Payments must be made by 30 June 2020 (for accounts that had balances of less than $6,000 on 1 June 2020) and 30 June 2021 (for all other accounts). Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) to a KiwiSaver scheme provider identified by the person; or (c) if the person has reached eligibility age or the amount is less than $200 - to the person; or (d) if the person has died - to the person's death beneficiaries or legal personal representative." for "Superannuation of eligible rollover fund members Superannuation providers who are trustees of eligible rollover funds must, by 30 June 2020 and 30 June 2021, give the Commissioner of Taxation details relating to accounts of those funds. Superannuation providers must pay to the Commissioner of Taxation the value of any such accounts. Payments must be made by 30 June 2020 (for accounts that had balances of less than $6,000 on 1 June 2020) and 30 June 2021 (for all other accounts). Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) if the person has reached eligibility age or the amount is less than $200 - to the person; or (c) if the person has died - to the person's death beneficiaries or legal personal representative.", applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 7 amended by No 24 of 2021, s 3 and Sch 2 item 19, by substituting "Voluntary payments by superannuation providers A superannuation provider may pay to the Commissioner of Taxation any amount it holds on behalf of a member, former member or non-member spouse if it reasonably believes paying the amount to the Commissioner is in the best interests of the member, former member or non-member spouse. Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) if the person has reached eligibility age or the amount is less than $200 - to the person; or (c) if the person has died - to the person's death beneficiaries or legal personal representative. Reunification of amounts held by the Commissioner If, having taken the steps required in relation to unclaimed amounts, amounts held by the Commissioner for lost members, inactive low-balance members or eligible rollover fund members or amounts paid by superannuation providers on a voluntary basis, the Commissioner still holds an amount, the Commissioner must pay that amount to a fund in which the person for whom the Commissioner holds the amount is active, or in accordance with the regulations." for "Reunification of amounts held by the Commissioner If, having taken the steps required in relation to unclaimed amounts, or amounts held by the Commissioner for lost members, inactive low-balance members or eligible rollover fund members, the Commissioner still holds an amount, the Commissioner must pay that amount to a fund in which the member for whom the Commissioner holds the amount is active, or in accordance with the regulations.", effective 29 March 2021.

S 7 amended by No 24 of 2021, s 3 and Sch 1 items 22 and 23, by inserting "Superannuation of eligible rollover fund members Superannuation providers who are trustees of eligible rollover funds must, by 30 June 2021 and 31 January 2022, give the Commissioner of Taxation details relating to accounts of those funds. Superannuation providers must pay to the Commissioner of Taxation the value of any such accounts. Payments must be made by 30 June 2021 (for accounts that had balances of less than $6,000 on 1 June 2021) and 31 January 2022 (for all other accounts). Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) if the person has reached eligibility age or the amount is less than $200 - to the person; or (c) if the person has died - to the person's death beneficiaries or legal personal representative." and substituting ", inactive low-balance members or eligible rollover fund members" for "or inactive low-balance members", effective23 March 2021.

S 7 amended by No 8 of 2019, s 3 and Sch 4 item 8, by omitting "The regulations may establish a scheme under which superannuation providers must provide the Commissioner of Taxation with details relating to lost members. An aim of the scheme would be to reduce at an early stage the number of accounts which become unclaimed money." after "Lost members register" heading, effective 1 April 2019.

S 7 amended by No 16 of 2019, s 3 and Sch 3 item 19, by inserting "Superannuation of inactive low-balance members At times determined by the Commissioner, superannuation providers must give the Commissioner of Taxation details relating to inactive low-balance accounts. Superannuation providers must pay to the Commissioner of Taxation the value of any such accounts. Later, the Commissioner must, if satisfied that it is possible to do so, pay an amount the Commissioner has received in respect of a person: (a) to a fund identified by the person; or (b) if the person has reached eligibility age or the amount is less than $200 - to the person; or (c) if the person has died - to the person's death beneficiaries or legal personal representative. Reunification of amounts held by the Commissioner If, having taken the steps required in relation to unclaimed amounts, or amounts held by the Commissioner for lost members or inactive low-balance members, the Commissioner still holds an amount, the Commissioner must pay that amount to a fund in which the member for whom the Commissioner holds the amount is active, or in accordance with the regulations.", effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

S 7 amended by No 117 of 2010, s 3 and Sch 1 items 1 and 2, by substituting "consistent with this Act, superannuation providers that are trustees of public sector superannuation schemes may" for "consistent with this Act, superannuation providers must" and inserting the heading and para at the end effective 17 November 2010.

S 7 amended by No 133 of 2009, s 3 and Sch 3 item 5, by inserting all the words from (and including) "Superannuation of lost members" to (and including) "(c) if the person has died - to the person's death beneficiaries or legal personal representative.", applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

S 7 amended by No 133 of 2009, s 3 and Sch 3 item 4, by substituting the para beginning with "Superannuation providers must pay", applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

The para formerly read:

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.

S 7 amended by No 27 of 2009, s 3 and Sch 2 items 1 to 5, by substituting "At the times determined by the Commissioner" for "At the end of each half-year", substituting "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." for "On request by a person entitled to receive that money, the Commissioner must pay it to that person.", substituting the paragraph beginning with (and including) "Superannuation of former temporary residents" for the paragraph beginning with (and including) "Superannuation of persons who used to hold temporary visas", inserting "death beneficiaries or" after "if the member has died, to the member's" and inserting "The Commissioner of Taxation may publish, or make available, details relating to amounts paid to the Commissioner in respect of such members." after "If the Commissioner is satisfied he or she has received a payment under this Act for such a member, the Commissioner must pay the amount he or she has received (and interest, in some cases) to the member, to a fund identified by the member of, if the member has died, to the member's legal personal representative.", effective 27 March 2009.

S 7 amended by No 151 of 2008, s 3 and Sch 1 item 4, by inserting the three paragraphs from (and including) "Superannuation of persons who used to hold temporary visas", effective 18 December 2008.

S 7 amended by No 9 of 2007, s 3 and Sch 7 item 2, by omitting "immediately payable" after "Unclaimed money is", applicable on and after 1 July 2007.

Definition of "account" substituted by No 16 of 2019, s 3 and Sch 3 item 20, effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading. The definition formerly read:

account
, in a fund, has a meaning affected by subsection 24B(3).

Definition of "account" inserted by No 133 of 2009, s 3 and Sch 3 item 6, applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

Definition of "approved form" substituted by No 151 of 2008, s 3 and Sch 1 item 5, effective 18 December 2008. The definition formerly read:

approved form
means a form approved by the Commissioner, in writing, under section 49 for the purposes of the provision in which the expression appears.

Definition of "authorised officer" repealed by No 2 of 2015, s 3 and Sch 2 item 64, effective 1 July 2015. The definition formerly read:

authorised officer
means a person who has been authorised in writing by the Commissioner under section 45 for the purposes of the provision in which the expression occurs.

Definition of "choice product" inserted by No 16 of 2019, s 3and Sch 3 item 21, effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

Definition of "Commonwealth public sector superannuation scheme" inserted by No 117 of 2010, s 3 and Sch 1 item 3, effective 17 November 2010.

Definition of "court" repealed by No 145 of 2010, s 3 and Sch 2 item 87, effective 17 December 2010. The definition formerly read:

court
includes any tribunal, authority or person having power to require the production of documents or the answering of questions.

Definition of "eligible rollover fund" inserted by No 24 of 2021, s 3 and Sch 1 item 24, effective 23 March 2021.

Definition of "eligible rollover fund member" inserted by No 24 of 2021, s 3 and Sch 1 item 24, effective 23 March 2021.

Definition of "engage in conduct" inserted by No 151 of 2008, s 3 and Sch 1 item 6, effective 18 December 2008.

Definition of "ERF low balance account" inserted by No 24 of 2021, s 3 and Sch 1 item 24, effective 23 March 2021.

Definition of "financial sector supervisory agency" amended by No 42 of 2003.

Definition of "former temporary resident" inserted by No 27 of 2009, s 3 and Sch 2 item 6, effective 27 March 2009.

Definition of "general interest charge" inserted by No 151 of 2008, s 3 and Sch 1 item 7, effective 18 December 2008.

Definition of "inactive low-balance account" inserted by No 16 of 2019, s 3 and Sch 3 item 21, effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

Definition of "inactive low-balance member" inserted by No 16 of 2019, s 3 and Sch 3 item 21, effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

Definition of "inactive low-balance product" inserted by No 16 of 2019, s 3 and Sch 3 item 21, effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

Definition of "KiwiSaver scheme" inserted by No 118 of 2020, s 3 and Sch 2 item 9, applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

Definition of "KiwiSaver scheme provider" inserted by No 118 of 2020, s 3 and Sch 2 item 9, applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

Definition of "leave Australia" inserted by No 151 of 2008, s 3 and Sch 1 item 8, effective 18 December 2008.

Definition of "legal personal representative" inserted by No 151 of 2008, s 3 and Sch 1 item 9, effective 18 December 2008.

Definition of "life insurance company" amended by No 75 of 2009, s 3 and Sch 1 item 222, by inserting "section 21 of" after "under" in para (a), effective 28 February 2010.

Definition of "lost member" substituted by No 8 of 2019, s 3 and Sch 4 item 9, effective 1 April 2019. The definition formerly read:

lost member
has the meaning given by section 22.

Definition of "lost member account" inserted by No 133 of 2009, s 3 and Sch 3 item 7, applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

Definition of "MySuper product" inserted by No 16 of 2019, s 3 and Sch 3 item 21, effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

Definition of "New Zealand eligibility age" inserted by No 127 of 2021, s 3 and Sch 3 item 78, applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

Definition of "New Zealand-sourced amount" inserted by No 127 of 2021, s 3 and Sch 3 item 78, applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

Definition of "non-member spouse" substituted by No 112 of 2020, s 3 and Sch 3 item 100, effective 28 September 2022. For transitional provision, see note under s 20F(4). The definition formerly read:

non-member spouse
has the same meaning as in Part VIIIB of the Family Law Act 1975.

Definition of "non-member spouse" inserted by No 133 of 2009, s 3 and Sch 3 item 8, applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

Definition of "payment split" substituted by No 112 of 2020, s 3 and Sch 3 item 101, effective 28 September 2022. For transitional provision, see note under s 20F(4). The definition formerly read:

payment split
means a payment split under Part VIIIB of the Family Law Act 1975.

Definition of "payment split" inserted by No 133 of 2009, s 3 and Sch 3 item 9, applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

Definition of "protected document" repealed by No 145 of 2010, s 3 and Sch 2 item 88, effective 17 December 2010. The definition formerly read:

protected document
means a document that:

(a) contains information about a person; and

(b) is obtained or made by a person referred to in subsection 31(1) in the course of, or because of, the person's duties under or in relation to this Act.

Definition of "protected information" repealed by No 145 of 2010, s 3 and Sch 2 item 89, effective 17 December 2010. The definition formerly read:

protected information
means information that:

(a) concerns a person; and

(b) is disclosed to, or obtained by, a person referred to in subsection 31(1) in the course of, or because of, the person's duties under or in relation to this Act.

Definition of "public sector superannuation scheme" substituted by No 117 of 2010, s 3 and Sch 1 item 4, effective 17 November 2010. The definition formerly read:

public sector superannuation scheme
means a scheme for the payment of superannuation, retirement or death benefits, where the scheme is established:

(a) by or under a law of the Commonwealth, a law of a State or a law of a Territory; or

(b) under the authority of:

(i) the Commonwealth or the government of a State or Territory; or

(ii) a municipal corporation, another local governing body or a public authority constituted by or under a law of the Commonwealth, a law of a State or a law of a Territory.

Definition of "scheduled statement day" amended by No 16 of 2019, s 3 and Sch 3 item 22, by substituting ", 3B or 4A" for "or 4A" in para (a), effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

Definition of "scheduled statement day" amended by No 133 of 2009, s 3 and Sch 3 item 10, by inserting "or 4A" after "Part 3" in para (a), applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

Definition of "scheduled statement day" substituted by No 27 of 2009, s 3 and Sch 2 item 7, effective 27 March 2009. The definition formerly read:

scheduled statement day
has the meaning given by section 20B.

Definition of "scheduled statement day" inserted by No 151 of 2008, s 3 and Sch 1 item 10, effective 18 December 2008.

Definition of "self managed superannuation fund" inserted by No 127 of 2021, s 3 and Sch 3 item 78, applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

Definition of "splittable payment" substituted by No 112 of 2020, s 3 and Sch 3 item 102, effective 28 September 2022. For transitional provision, see note under s 20F(4). The definition formerly read:

splittable payment
has the same meaning as in Part VIIIB of the Family Law Act 1975.

Definition of "splittable payment" inserted by No 133 of 2009, s 3 and Sch 3 item 11, applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

Definition of "State or Territory public sector superannuation scheme" inserted by No 117 of 2010, s 3 and Sch 1 item 5, effective 17 November 2010.

Definition of "Superannuation Complaints Tribunal" repealed by No 13 of 2018 (as amended by No 35 of 2022), s 3 and Sch 3 item 30, effective 5 March 2022. No 13 of 2018 (as amended by No 35 of 2022), s 3 and Sch 3 items 32-35 contain the following application, saving and transitional provisions:

Part 3 - Application, saving and transitional provisions

32 Existing determinations unaffected  
…

(2)
The amendments of Acts made by Part 2 of this Schedule do not apply in relation to such a determination, and those Acts continue to apply after the commencement of that Part in relation to such a determination as if those amendments had not been made.
33 Transfer of records  
(1)
This item applies to any records or documents that were in the possession of the following immediately before the commencement of Part 1 of this Schedule:
(a) a member of the Superannuation Complaints Tribunal;
(b) a member of the staff of the Australian Securities and Investments Commission who had been made available to the Superannuation Complaints Tribunal under section 62 of the Superannuation (Resolution of Complaints) Act 1993.

(2)
The records and documents are to be transferred to the Australian Securities and Investments Commission after that commencement.

Note:

The records and documents are Commonwealth records for the purposes of the Archives Act 1983.

Records and documents taken to be protected information

(3)
For the purposes of section 127 of the Australian Securities and Investments Commission Act 2001, a record or document transferred to the Australian Securities and Investments Commission under subitem (2) of this item is taken to be protected information, unless the document or record has already been lawfully made available to the public.
34 Remittal of matters by the Federal Court  
(1)
This item applies in relation to an appeal to the Federal Court under section 46 of the Superannuation (Resolution of Complaints) Act 1993, as in force immediately before the commencement of Part 1 of this Schedule, from a determination of the Superannuation Complaints Tribunal, if the appeal was not finally determined before that commencement.

(2)
Without limiting the powers of the Federal Court, the Federal Court may make an order remitting the matter to be determined by the Australian Financial Complaints Authority in accordance with the directions of the Court.
35 Transitional rules  
(1)
The Minister may, bylegislative instrument, make rules prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments or repeals made by this Schedule.

(2)
To avoid doubt, the rules may not do the following:
(a) create an offence or civil penalty;
(b) provide powers of:

(i) arrest or detention; or

(ii) entry, search or seizure;

(c) impose a tax;
(d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;
(e) directly amend the text of this Act.

The definition formerly read:

Superannuation Complaints Tribunal
means the Superannuation Complaints Tribunal established by the Superannuation (Resolution of Complaints) Act 1993.

Definition of "superannuation interest" inserted by No 151 of 2008, s 3 and Sch 1 item 11, effective 18 December 2008.

Definition of "unclaimed money day" inserted by No 27 of 2009, s 3 and Sch 2 item 8, effective 27 March 2009.

Definition of "unfunded public sector scheme" inserted by No 117 of 2010, s 3 and Sch 1 item 6, effective 17 November 2010.

Div 1 heading inserted by No 27 of 2009, s 3 and Sch 2 item 9, effective 27 March 2009.

S 12(1) amended by No 133 of 2009, s 3 and Sch 3 item 12, by substituting "within the last 2 years" for "for at least 2 years" in para (c), applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

S 12(1) amended by No 9 of 2007, s 3 and Sch 7 items 3 to 5, by repealing para (b), substituting para (d) and repealing the note, applicable on and after 1 July 2007. Paras (b) and (d) and the note formerly read:

(b) the superannuation provider determines that, under the governing rules of the fund or by operation of law, a benefit (other than a pension or annuity) is immediately payable in respect of the member; and

(d) after making reasonable efforts and after a reasonable period has passed, the superannuation provider is unable to ensure that the member receives the benefit.

Note:

A superannuation provider will be unable to ensure that the member receives the benefit if, for example, the provider cannot find the member after making reasonable efforts to do so and after a reasonable period has passed.

S 12(2) inserted by No 114 of 2001.

S 12(3) repealed by No 133 of 2009, s 3 and Sch 3 item 13, applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

S 12(3) formerly read:

12(3)
In this section:

non-member spouse
has the same meaning as in Part VIIIB of the Family Law Act 1975.

payment split
means a payment split under Part VIIIB of the Family Law Act 1975.

splittable payment
has the same meaning as in Part VIIIB of the Family Law Act 1975.

S 12(3) inserted by No 114 of 2001.

S 13(1) amended by No 27 of 2009, s 3 and Sch 2 item 10, by substituting "for a fund" for "in relation to a fund", effective 27 March 2009.

S 13(1) substituted by No 9 of 2007, s 3 and Sch 7 item 6, applicable on and after 1 July 2007. S 13(1) formerly read:

13(1)
If paragraphs 12(1)(a), (b) and (c) are satisfied in relation to a member of a fund, the superannuation provider must make reasonable efforts to ensure that the member receives the benefit.

S 13(1) amended by No 114 of 2001.

S 13(1A) inserted by No 114 of 2001.

S 13(1B) repealed by No 133 of 2009, s 3 and Sch 3 item 13, applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

S 13(1B) formerly read:

13(1B)
For the purposes of subsection (1A), non-member spouse has the same meaning as in Part VIIIB of the Family Law Act 1975.

S 13(1B) inserted by No 114 of 2001.

S 13(2) amended by No 61 of 2016, s 3 and Sch 2 item 100, by substituting "Penalty for contravention of this subsection" for "Maximum penalty" in the penalty, effective 21 October 2016.

S 13(2) amended by No 4 of 2016, s 3 and Sch 4 items 1 and 301, by substituting "commits" for "is guilty of", effective 10 March 2016.

S 13(2) amended by No 114 of 2001.

S 14 amended by No 133 of 2009, s 3 and Sch 3 item 14, by substituting "within the last 2 years" for "for at least 2 years" in para (c), applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

S 15(2) amended by No 61 of 2016, s 3 and Sch 2 item 100, by substituting "Penalty for contravention of this subsection" for "Maximum penalty" in the penalty, effective 21 October 2016.

S 15(2) amended by No 4 of 2016, s 3 and Sch 4 items 1 and 301, by substituting "commits" for "is guilty of", effective 10 March 2016.

S 15A amended by No 16 of 2019, s 3 and Sch 3 items 23 and 24, by substituting "Parts 3B and 4A" for "Part 4A" in para (a) and "Part 3B or 4A" for "Part 4A" in para (b), effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

S 15A amended by No 133 of 2009, s 3 and Sch 3 items 15 and 16, by inserting "and Part 4A" after "this Part" in para (a) and inserting "or Part 4A" after "this Part" in para (b), applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

S15A inserted by No 27 of 2009, s 3 and Sch 2 item 11, effective 27 March 2009. An unclaimed money day, specified by the Commissioner under paragraph (a), must be a day that occurs on or after 1 July 2009 [No 27 of 2009, s 3 and Sch 2 item 67(1)].

Div 2 heading inserted by No 27 of 2009, s 3 and Sch 2 item 11, effective 27 March 2009.

S 16(1)-(3) substituted for s 16(1)-(6) by No 27 of 2009, s 3 and Sch 2 item 12, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 16(1) formerly read:

16(1)
A superannuation provider must give to the Commissioner a statement, in an approved form, of all unclaimed money as at the end of each half-year.

Note:

The approved form may require the superannuation provider to set out:

(a) the tax file number of the superannuation provider; and

(b) the tax file number of any member of the fund to whom the statement relates and who has quoted his or her tax file number to the superannuation provider.

See subsections 25(1) and (2).

S 16(1A) repealed by No 64 of 2020, s 3 and Sch 3 item 54, effective 23 June 2020. S 16(1A) formerly read:

16(1A)
If, at the end of the unclaimed money day, there is no unclaimed money, the statement must say so.

Note:

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

S 16(1)-(3) substituted for s 16(1)-(6) by No 27 of 2009, s 3 and Sch 2 item 12, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 16(2) substituted by No 64 of 2020, s 3 and Sch 3 item 54, effective 23 June 2020. S 16(2) formerly read:

16(2)
The statement must also contain information, required by the form, relevant to any of the unclaimed money that, between the unclaimed money day and the day on which the statement is given to the Commissioner:

(a) the superannuation provider pays to a person who is entitled to it; or

(b) otherwise ceases to be unclaimed money (other than because the provider pays the money to the Commissioner under subsection 17(1)).

S 16(1)-(3) substituted for s 16(1)-(6) by No 27 of 2009, s 3 and Sch 2 item 12, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 16(2) formerly read:

16(2)
If:

(a) the superannuation provider pays any of the unclaimed money to a person who is entitled to it; and

(b) the payment is made between the end of the half-year and the day on which the statement is given to the Commissioner;

the statement must contain such particulars relating to the amounts paid as are required by the form.

S 16(2A) amended by No 47 of 2021, s 3 and Sch 1 item 35, by substituting "no more than 6 members" for "fewer than 5 members" in the note, effective 1 July 2021.

S 16(2A) substituted by No 64 of 2020, s 3 and Sch 3 item 54, effective 23 June 2020. S 16(2A) formerly read:

16(2A)
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) there is no unclaimed money.

S 16(1)-(3) substituted for s 16(1)-(6) by No 27 of 2009, s 3 and Sch 2 item 12, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 16(2B) amended by No 47 of 2021, s 3 and Sch 1 item 36, by substituting "no more than 6 members" for "fewer than 5 members" in para (a), effective 1 July 2021.

S 16(2B) inserted by No 64 of 2020, s 3 and Sch 3 item 54, effective 23 June 2020.

S 16(1)-(3) substituted for s 16(1)-(6) by No 27 of 2009, s 3 and Sch 2 item 12, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 16(3) formerly read:

16(3) When statement must be given.  

A statement under subsection (1) must be given:

(a) in relation to a half-year ending on 30 June in a calendar year - before 1 November in that calendar year; or

(b) in relation to a half-year ending on 31 December in a calendar year - before 1 May in the following calendar year.

S 16(1)-(3) substituted for s 16(1)-(6) by No 27 of 2009, s 3 and Sch 2 item 12, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 16(4) formerly read:

16(4) Commissioner may extend time for lodging statement.  

The Commissioner may, in writing, provide for a later day to apply under paragraph (3)(a) or (b). This may be done before, on or after the day specified in the paragraph concerned.

S 16(1)-(3) substituted for s 16(1)-(6) by No 27 of 2009, s 3 and Sch 2 item 12, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 16(5) formerly read:

16(5) Offence.  

A superannuation provider is guilty of an offence if the superannuation provider fails to comply with an obligation set out in subsection (1), (2) or (3). However, an offence is not committed if subsection 18(2) is satisfied.

Maximum penalty: 100 penalty units.

Note 1:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2:

See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.

S 16(1)-(3) substituted for s 16(1)-(6) by No 27 of 2009, s 3 and Sch 2 item 12, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 16(6) formerly read:

16(6)
To the extent that it relates to subsection (3), subsection (5) does not apply if:

(a) the Commissioner has provided under subsection (4) for a later day to apply under paragraph (3)(a) or (b); and

(b) the superannuation provider gave the statement under subsection (1) before that later day.

S 16(7) substituted by No 24 of 2021, s 3 and Sch 1 item 25, effective 23 March 2021. S 16(7) formerly read:

Certain former temporary residents

16(7)
This section does not apply to unclaimed money described in subsection 12(1) payable to a person identified in a notice the Commissioner has given the superannuation provider under section 20C.

Note:

Section 20E requires the superannuation provider to give the Commissioner a statement about the superannuation interest of a person identified in a notice given to the provider under section 20C (which is about notices identifying former temporary residents).

S 16(7) amended by No 27 of 2009, s 3 and Sch 2 items 13 and 14, by substituting "This section" for "Subsection (1)" and substituting "temporary residents" for "holders of temporary visas" in the note, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 16(7) inserted by No 151 of 2008, s 3 and Sch 1 item 13, effective 18 December 2008.

S 16A inserted by No 27 of 2009, s 3 and Sch 2 item 15, effective 27 March 2009. Section 16A does not apply in relation to statements given to the Commissioner under section 16 as in force just before 27 March 2009 [No 27 of 2009, s 3 and Sch 2 item 68].

Div 3 heading inserted by No 27 of 2009, s 3 and Sch 2 item 15, effective 27 March 2009.

S 17(1)-(2AA) substituted for s 17(1) and (2) by No 27 of 2009, s 3 and Sch 2 item 16, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

No 27 of 2009, s 3 and Sch 2 item 69, contains the following provision:

Payments made before commencement  
69(1)
To avoid doubt, a reference in a law of the Commonwealth to a payment made under subsection 17(1) or (2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 includes a reference to a payment made under that subsection as in force before 27 March 2009.

69(2)
However, sections 17A, 18A, 18B and 18C of that Act, as inserted, do not apply in relation to such a payment.

S 17(1) formerly read:

17(1)
On giving the statement to the Commissioner, the superannuation provider must pay to the Commissioner the amount worked out using the following formula:

Amount of unclaimed money specified in statement

−

Unclaimed money paid by provider

where:

amount of unclaimed money specified in statement
means the amount specified in the statement provided in accordance with subsection 16(1).

unclaimed money paid by provider
means any amounts specified in the statement in accordance with subsection 16(2).

Note:

Subsection (1) does not require the superannuation provider to pay the Commissioner an amount on account of unclaimed money described in subsection 12(1) payable to a person identified in a notice the Commissioner has given the provider under section 20C, because such money is not to be included in the statement under section 16 (and is payable to the Commissioner under section 20F).

S 17(1) amended by No 151 of 2008, s 3 and Sch 1 item 14, by inserting the note at the end, effective 18 December 2008.

S 17(1A) inserted by No 27 of 2009, s 3 and Sch 2 item 16, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 17(1B) substituted by No 24 of 2021, s 3 and Sch 1 item 26, effective 23 March 2021. S 17(1B) formerly read:

17(1B)
Subsection (1) does not require the superannuation provider to pay the Commissioner an amount on account of unclaimed money described in subsection 12(1) payable to a person identified in a notice the Commissioner has given the provider under section 20C.

Note:

Such money is payable to the Commissioner under section 20F.

S 17(1)-(2AA) substituted for s 17(1) and (2) by No 27 of 2009, s 3 and Sch 2 item 16, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 17(1)-(2AA) substituted for s 17(1) and (2) by No 27 of 2009, s 3 and Sch 2 item 16, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 17(2) amended by No 118 of 2020, s 3 and Sch 2 item 10, by inserting para (aa), applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 17(1)-(2AA) substituted for s 17(1) and (2) by No 27 of 2009, s 3 and Sch 2 item 16, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

No 27 of 2009, s 3 and Sch 2 item 69, contains the following provision:

Payments made before commencement  
69(1)
To avoid doubt, a reference in a law of the Commonwealth to a payment made under subsection (1) or (2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 includes a reference to a payment made under that subsection as in force before 27 March 2009.

69(2)
However, sections 17A, 18A, 18B and 18C of that Act, as inserted by this Schedule, do not apply in relation to such a payment.

S 17(2) formerly read:

17(2) Payment where money later claimed.  

The Commissioner must pay unclaimed money to a person if:

(a) unclaimed money has been paid to the Commissioner under this section by a superannuation provider; and

(b) the Commissioner is satisfied, on application made in the approved form by the person, that, if this section had not been enacted, the superannuation provider would have paid the unclaimed money to the person.

S 17(2AAA) inserted by No 127 of 2021, s 3 and Sch 3 item 79, applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 17(1)-(2AA) substituted for s 17(1) and (2) by No 27 of 2009, s 3 and Sch 2 item 16, effective 27 March 2009.

No 27 of 2009, Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 17(2AAB) inserted by No 127 of 2021, s 3 and Sch 3 item 80, applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 17(2AB) amended by No 118 of 2020, s 3 and Sch 2 items 11-13, by inserting "a KiwiSaver scheme provider," in para (a), "(aa)," in para (b) and "KiwiSaver scheme provider,", applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 17(2AB) inserted by No 176 of 2012, s 3 and Sch 4 item 1, effective 5 December 2012. No 176 of 2012, s 3 and Sch 4 item 8 contains the following transitional provision:

Transitional - scheduled statement day  
Scope

8(1)
This item applies if an unclaimed money day is 31 December 2012.

Scheduled statement day

8(2)
Sections 24C and 24E of the Superannuation (Unclaimed Money and Lost Members) Act 1999 have effect as if the scheduled statement day for the unclaimed money day was 31 May 2013 instead of the day specified in the instrument under section 15A of that Act.

S 17(2AC) inserted by No 176 of 2012, s 3 and Sch 4 item 1, effective 5 December 2012. For transitional provision see note at the end of s 17(2AB).

S 17(2AD) inserted by No 176 of 2012, s 3 and Sch 4 item 1, effective 5 December 2012. For transitional provision see note at the end of s 17(2AB).

S 17(2AE) inserted by No 176 of 2012, s 3 and Sch 4 item 1, effective 5 December 2012. For transitional provision see note at the end of s 17(2AB).

S 17(2A) amended by No 88 of 2013, s 3 and Sch 1 items 20-21, by substituting "subsection 20H(2) or (3)" for "section 20H" and "Subsections 20H(2) and (3) provide" for "Section 20H provides" in the note, effective 28 June 2013.

S 17(2A) amended by No 27 of 2009, s 3 and Sch 2 item 17, by substituting "Subsections (1C) to (2AA) do" for "Subsection (2) does", effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 17(2A) inserted by No 151 of 2008, s 3 and Sch 1 item 15, effective 18 December 2008.

S 17(3) repealed by No 27 of 2009, s 3 and Sch 2 item 18, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 17(3) formerly read:

17(3) Refund of excess payments.  

If a superannuation provider satisfies the Commissioner that an amount paid to the Commissioner under this section exceeds the amount that would have been paid to the person concerned, the Commissioner must refund to the superannuation provider the amount of the excess.

S 17(5) repealed by No 27 of 2009, s 3 and Sch 2 item 18, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 17(5) formerly read:

17(5) Appropriation of Consolidated Revenue Fund.  

The Consolidated Revenue Fund is appropriated for the purposes of this section.

S 17(6) repealed by No 27 of 2009, s 3 and Sch 2 item 18, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 17(6) formerly read:

17(6) Offence.  

A superannuation provider is guilty of an offence if the superannuation provider fails to comply with the obligations set out in subsection (1). However, an offence is not committed if subsection 18(3) is satisfied.

Maximum penalty: 100 penalty units.

Note 1:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2:

See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.

S 17A inserted by No 27 of 2009, s 3 and Sch 2 item 19, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 69 contains the following provision:

Payments made before commencement  
69(1)
To avoid doubt, a reference in a law of the Commonwealth to a payment made under subsection 17(1) or (2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 includes a reference to a payment made under that subsection as in force before 27 March 2009.

69(2)
However, sections 17A, 18A, 18B and 18C of that Act, as inserted, do not apply in relation to such a payment.

Div 4 heading inserted by No 27 of 2009, s 3 and Sch 2 item 19, effective 27 March 2009.

S 18(1) substituted by No 15 of 2007, s 3 and Sch 3 item 58, applicable in relation to statements required to be given under section 16 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in respect of the half-year ending on 30 June 2007 and later half-years. S 18(1) formerly read:

18(1)
This section applies if a law of a State or Territory satisfies the requirements set out in subsections (4) and (5).

S 18(2) substituted for s 18(2) and (3) by No 27 of 2009, s 3 and Sch 2 item 20, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 18(2) formerly read:

18(2)
If the superannuation provider (in accordance with that law) gives to a State or Territory authority a statement that complies with items 1 and 2 of the table in subsection (4), the provider does not have to comply with subsection 16(1).

S 18(2) substituted for s 18(2) and (3) by No 27 of 2009, s 3 and Sch 2 item 20, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 18(3) formerly read:

18(3)
If the superannuation provider (in accordance with that law) pays the amount worked out under item 3 of the table to the State or Territory authority, the provider does not have to comply with subsection 17(1).

S 18(4) amended by No 27 of 2009, s 3 and Sch 2 item 21, by inserting ", as in force just before the commencement of Schedule 5 to the Tax Laws Amendment (2009 Measures No 1) Act 2009" at the end of table item 3 under the column headed "Effect of provision", effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 18(5) amended by No 27 of 2009, s 3 and Sch 2 item 22, by substituting "provisions: (a) corresponding to the provisions of this Act, as in force just before the commencement of Schedule 5 to the Tax Laws Amendment (2009 Measures No 1) Act 2009, set out in the following table; and (b) with the effects set out in the table:" for "provisions corresponding to the provisions, and with the effects, set out in the following table:", effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 67(2), reads:

67(2)
Despite the amendments of sections 16, 17 and 18, those sections, as in force just before 27 March 2009, continue to apply, from that commencement, in relation to half-years ending before 1 July 2009.

S 18(7) inserted by No 15 of 2007, s 3 and Sch 3 item 59, applicable in relation to statements required to be given under section 16 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in respect of the half-year ending on 30 June 2007 and later half-years.

S 18AA(1) amended by No 126 of 2015, s 3 and Sch 1 item 591, by substituting "Legislation Act 2003" for "Legislative Instruments Act 2003" in note 1, effective 5 March 2016.

S 18AA inserted by No 117 of 2010, s 3 and Sch 1 item 7, effective 17 November 2010.

S 18A inserted by No 27 of 2009, s 3 and Sch 2 item 23, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 69 contains the following provision:

Payments made before commencement  
69(1)
To avoid doubt, a reference in a law of the Commonwealth to a payment made under subsection 17(1) or (2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 includes a reference to a payment made under that subsection as in force before 27 March 2009.

69(2)
However, sections 17A, 18A, 18B and 18C of that Act, as inserted, do not apply in relation to such a payment.

S 18B(1) amended by No 118 of 2020, s 3 and Sch 2 item 14, by inserting "(other than a payment to a KiwiSaver scheme provider)" in para (a), applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 18B inserted by No 27 of 2009, s 3 and Sch 2 item 23, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 69 contains the following provision:

Payments made before commencement  
69(1)
To avoid doubt, a reference in a law of the Commonwealth to a payment made under subsection 17(1) or (2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 includes a reference to a payment made under that subsection as in force before 27 March 2009.

69(2)
However, sections 17A, 18A, 18B and 18C of that Act, as inserted, do not apply in relation to such a payment.

S 18C(1) amended by No 118 of 2020, s 3 and Sch 2 item 15, by substituting "paragraph 17(2)(a)" for "subsection 17(2)" in para (a), applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 18C inserted by No 27 of 2009, s 3 and Sch 2 item 23, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 69 contains the following provision:

Payments made before commencement  
69(1)
To avoid doubt, a reference in a law of the Commonwealth to a payment made under subsection 17(1) or (2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 includes a reference to a payment made under that subsection as in force before 27 March 2009.

69(2)
However, sections 17A, 18A, 18B and 18C of that Act, as inserted, do not apply in relation to such a payment.

Part 3AA heading inserted by No 27 of 2009, s 3 and Sch 2 item 23, effective 27 March 2009.

S 19(1) amended by No 24 of 2021, s 3 and Sch 2 item 20, by inserting para (de) and (df), effective 29 March 2021.

S 19(1) amended by No 24 of 2021, s 3 and Sch 1 item 27, by inserting para (dc) and (dd), effective 23 March 2021.

S 19(1) amended by No 16 of 2019, s 3 and Sch 3 item 25, by inserting para (da) and (db), effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

S 19(1) amended by No 133 of 2009, s 3 and Sch 3 item 17, by inserting paras (e) and (f) at the end, applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

S 19(1) amended by No 27 of 2009, s 3 and Sch 2 items 24 to 26, by substituting "Part 3" for "this Part" in para (a), substituting "person" for "member" in para (b) and inserting paras (c) and (d) at the end, effective 27 March 2009.

Part 3A inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

Div 1 inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20A amended by No 27 of 2009, s 3 and Sch 2 item 27, by substituting the para beginning with (and including) "The Commissioner must give", effective 27 March 2009. The para formerly read:

The Commissioner must give the superannuation provider for a fund a notice if the Commissioner is satisfied that:

(a) a person who used to be the holder of a temporary visa has a superannuation interest in the fund; and

(b) at least 6 months have passed since the person ceased to hold the visa and left Australia; and

(c) the person does not hold a visa and is not a citizen.

S 20A inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20AA(2) amended by No 126 of 2015, s 3 and Sch 1 item 592, by substituting "Legislation Act 2003" for "Legislative Instruments Act 2003" in the note, effective 5 March 2016.

S 20AA inserted by No 27 of 2009, s 3 and Sch 2 item 28, effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 70 contains the following saving provision:

Saving - regulations  
70(1)
If, just before 27 March 2009, regulations made for the purposes of subparagraph 20C(1)(b)(i) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 were in force, the regulations have effect, from that commencement, as if they had been made for the purposes of subsection 20AA(2) of that Act, as inserted.

…

S 20B inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

Div 2 inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20C(1) amended by No 27 of 2009, s 3 and Sch 2 item 29, by substituting para (b) for paras (b) to (d), effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 70 contains the following saving provision:

Saving - regulations  
70(1)
If, just before 27 March 2009, regulations made for the purposes of subparagraph 20C(1)(b)(i) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 were in force, the regulations have effect, from that commencement, as if they had been made for the purposes of subsection 20AA(2) of that Act, as inserted.

…

Paras (b) to (d) formerly read:

(b) before, on or after the commencement of this section, the person:

(i) was, under the Migration Act 1958, the holder of a temporary visa, except a visa prescribed by the regulations, that has ceased to be in effect; and

(ii) left Australia after starting to be the holder of the visa (whether the visa ceased to be in effect before, when or after the person left); and

(c) at least 6 months have passed since the later of the following events (or either of them if they occurred at the same time):

(i) the visa ceased to be in effect;

(ii) the person left Australia; and

(d) the person:

(i) is not, under that Act, the holder of a temporary visa or permanent visa; and

(ii) is neither an Australian citizen nor a New Zealand citizen; and

(iii) has not made a valid application for a permanent visa that has not been finally determined under that Act.

S 20C(3) substituted by No 117 of 2010, s 3 and Sch 1 item 8, effective 17 November 2010. S 20C(3) formerly read:

20C(3)
Subsection (1) does not apply to:

(a) a superannuation provider who is the trustee of a State or Territory public sector superannuation scheme within the meaning of section 18; or

(b) a superannuation provider for an unfunded public sector scheme within the meaning of the Superannuation Guarantee (Administration) Act 1992.

S 20C inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20D inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20E(1) amended by No 27 of 2009, s 3 and Sch 2 item 30, by inserting "Part 3AA of this Act," after "the Income Tax Assessment Act 1997," in para (b)(iii), effective 27 March 2009.

S 20E(4) inserted by No 24 of 2021, s 3 and Sch 1 item 28, effective 23 March 2021.

S 20E inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20F(4) amended by No 112 of 2020, s 3 and Sch 3 items 103 and 104, by substituting para (b) and inserting note 3, effective 28 September 2022. No 112 of 2020, s 3 and Sch 4 item 6 contains the following transitional provision:

…

Part 5 - Transitional rules

6 Transitional rules  
(1)
The Minister may, by legislative instrument, make rules prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments or repeals made by this Act.

(2)
Without limiting subitem (1), rules made under this item before the end of the period of 12 months starting on the day this Schedule commences may provide that provisions of this Act, or any other Act or instrument, have effect with any modifications prescribed by the rules. Those provisions then have effect as if they were so modified.

(3)
Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply in relation to rules made under this item before the end of the period of 12 months starting on the day this Schedule commences.

(4)
To avoid doubt, the rules may not do the following:

(a) create an offence or civil penalty;

(b) provide powers of:

(i) arrest or detention; or

(ii) entry, search or seizure;

(c) impose a tax;

(d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;

(e) directly amend the text of this Act.

(5)
This Schedule (other than subitem (4)) does not limit the rules that may be made under this item.

Para (b) formerly read:

(b) take account only of the person's entitlement to payment remaining after any reduction by a payment split under Part VIIIB of the Family Law Act 1975 (disregarding subsection 90XB(3) of that Act).

S 20F(4) amended by No 130 of 2018, s 3 and Sch 6 items 67 and 68, by substituting "90XB(3)" for "90MB(3)" in para (b) and note 2, effective 22 November 2018.

S 20F(4B) inserted by No 24 of 2021, s 3 and Sch 1 item 29, effective 23 March 2021.

S 20F inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20G inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

Div 4 inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20H(1) amended by No 24 of 2021, s 3 and Sch 2 items 21 and 22, by inserting para (b)(iiac) and (b)(vc), effective 29 March 2021.

S 20H(1) amended by No 24 of 2021, s 3 and Sch 1 items 30 and 31, by inserting para (b)(iiab) and (b)(vb), effective 23 March 2021.

S 20H(1) amended by No 16 of 2019, s 3 and Sch 3 items 26 and 27, by inserting para (b)(iiaa) and (b)(va), effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

S 20H(1) amended by No 88 of 2013, s 3 and Sch 1 items 22-24, by substituting "subsection 17(2)" for "section 17" in para (b)(iii), "subsections (2) and (3) of this section in respect of the person (disregarding an amount paid under subsection (3), to the extent the amount was attributable to interest that would have been payable under subsection (2A) apart from subsection (3))" for "this section in respect of the person" in para (b)(iv) and "subsection 24G(2)" for "section 24G" in para (b)(vi), effective 28 June 2013.

S 20H(1) amended by No 133 of 2009, s 3 and Sch 3 items 18 to 20, by inserting "and" at the end of para (b)(ii) and inserting paras (b)(iia) and (b)(vi), applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

S 20H(2) amended by No 118 of 2020, s 3 and Sch 2 item 16, by inserting para (ba), applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 20H(2AAA) inserted by No 127 of 2021, s 3 and Sch 3 item 81, applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 20H(2AA) amended by No 118 of 2020, s 3 and Sch 2 item 17, by inserting ", KiwiSaver scheme provider", applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 20H(2AA) inserted by No 176 of 2012, s 3 and Sch 4 item 2, effective 5 December 2012. For transitional provision see note at the end of s 17(2AB).

S 20H(2AB) inserted by No 176 of 2012, s 3 and Sch 4 item 2, effective 5 December 2012. For transitional provision see note at the end of s 17(2AB).

S 20H(2A) amended by No 176 of 2012, s 3 and Sch 4 item 3, by substituting "If the Commissioner makes a payment under subsection (2) before 1 July 2013, the" for "The", effective 5 December 2012. For transitional provision see note at the end of s 17(2AB).

S 20H(2B) amended by No 24 of 2021, s 3 and Sch 2 item 23, by inserting "section 22 or subsection 22B(2)," in para (a), effective 29 March 2021.

S 20H(2B) amended by No 24 of 2021, s 3 and Sch 1 item 32, by inserting "section 21C or subsection 21E(2)," in para (a), effective 23 March 2021.

S 20H(2B) amended by No 16 of 2019, s 3 and Sch 3 item 28, by inserting "section 20QD or subsection 20QF(2), or" in para (a), effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

S 20H(2B) amended by No 88 of 2013, s 3 and Sch 1 item 25, by substituting "subsection 17(1) or (2), section 24E or subsection 24G(2)" for "section 17, 24E or 24G" in para (a), effective 28 June 2013.

S 20H(2B) amended by No 133 of 2009, s 3 and Sch 3 item 21, by inserting ", 24E or 24G" after "section 17" in para (a), applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

S 20H(3) amended by No 24 of 2021, s 3 and Sch 2 item 24, by inserting ", (iiac)", effective 29 March 2021.

S 20H(3) amended by No 24 of 2021, s 3 and Sch 1 item 33, by inserting ", (iiab)", effective 23 March 2021.

S 20H(3) amended by No 16 of 2019, s 3 and Sch 3 item 29, by inserting ", (iiaa)", effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

S 20H(3) amended by No 176 of 2012, s 3 and Sch 4 item 4, by inserting "(2AA) or" after "under subsection" in para (b), effective 5 December 2012. For transitional provision see note at the end of s 17(2AB).

S 20H(3) amended by No 133 of 2009, s 3 and Sch 3 item 22, by substituting ", (ii) and (iia)" for "and (ii)", applicable in relation to:

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

(b) later unclaimed money days.

S 20H inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

Div 5 inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20J inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20JA(1) amended by No 126 of 2015, s 3 and Sch 1 item 593, by substituting "Legislation Act 2003" for "Legislative Instruments Act 2003" in note 1, effective 5 March 2016.

S 20JA inserted by No 117 of 2010, s 3 and Sch 1 item 9, effective 17 November 2010.

S 20K inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20L(1) amended by No 118 of 2020, s 3 and Sch 2 item 18, by inserting "(other than a payment to a KiwiSaver scheme provider)" in para (a), applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 20L(1) amended by No 27 of 2009, s 3 and Sch 2 items 31 and 32, by substituting "this Part" for "section 20H" in para (a) and substituting "this Part" for "that section" in para (b), effective 27 March 2009.

No 27 of 2009, s 3 and Sch 2 item 70 contains the following saving provision:

Saving - regulations  
…

70(2)
If, just before 27 March 2009, regulations made for the purposes of paragraph 20L(4)(a) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 were in force, the regulations have effect, from that commencement, as if they had also been made for the purposes of paragraph 18B(4)(a) of that Act, as inserted.

S 20L inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20M(1) amended by No 118 of 2020, s 3 and Sch 2 item 19, by substituting "paragraph 20H(2)(b) or subsection 20H(2AA)" for "subsection 20H(2), (2AA)" in para (a), applicable in relation to payments of amounts made by the Commissioner on or after 11 December 2021, regardless of when the amounts were received by the Commissioner.

S 20M(1) amended by No 88 of 2013, s 3 and Sch 1 item 26, by substituting "subsection 20H(2), (2AA) or (2A)" for "section 20H" in para (a), effective 28 June 2013.

S 20M inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

Div 6 inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20N(2) amended by No 15 of 2017, s 3 and Sch 4 item 85, by substituting "1997" for "1936" in para (a), effective 1 April 2017.

S 20N(2) amended by No 117 of 2010, s 3 and Sch 4 item 30, by substituting paras (a) and (b), applicable in relation to applications made on or after 17 November 2010. Paras (a) and (b) formerly read:

(a) the Secretary of a Department administered by a Minister administering a provision of the Migration Act 1958 or of the Australian Citizenship Act 2007; and

(b) an APS employee in such a Department.

S 20N inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

S 20P amended by No 88 of 2013, s 3 and Sch 1 item 27, by substituting "subsection 20H(2) or (3)" for "section 20H" in para (a) of the example, effective 28 June 2013.

S 20P inserted by No 151 of 2008, s 3 and Sch 1 item 16, effective 18 December 2008.

Pt 3B inserted by No 16 of 2019, s 3 and Sch 3 item 30, effective 13 March 2019. No 16 of 2019, s 3 and Sch 3 item 38 contain the following application and transitional provisions:

Part 2 - Application and transitional provisions

38 Application of this Schedule  
38(1)
The amendments made by this Schedule apply in relation to unclaimed money days that occur on or after 30 June 2019.

38(2)
However, a period during which a member's account in a fund is inactive is to be taken into account for the purposes of paragraph 20QA(1)(a) of the Superannuation (Unclaimed Money and Lost Members) Act 1999, as inserted by item 8 of this Schedule, even if the period begins before 30 June 2019.

Div 1 inserted by No 16 of 2019, s 3 and Sch 3 item 30, effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

S 20Q inserted by No 16 of 2019, s 3 and Sch 3 item 30, effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

S 20QA(1) amended by No 47 of 2021, s 3 and Sch 1 item 37, by substituting "7 or more" for "5 or more" in para (a)(i), effective 1 July 2021.

S 20QA(1) amended by No 141 of 2020, s 3and Sch 4 items 74 and 75, by substituting "68AAB(2), (5)" for "68AAB(5)" and inserting para (a)(x), effective 18 December 2020 and applicable in relation to unclaimed money days that occur on or after 1 April 2020.

S 20QA(1) amended by No 64 of 2020, s 3 and Sch 3 item 55, by substituting "68AAA(2), (7)" for "68AAA(7)" in para (a)(viii), effective 23 June 2020 and applicable in relation to unclaimed money days that occur on or after 30 June 2019.

S 20QA(1) amended by No 79 of 2019, s 3 and Sch 1 item 6, by inserting para (a)(ix), effective 3 October 2019.

S 20QA(1A) amended by No 64 of 2020, s 3 and Sch 3 item 57, by substituting para (b)(iv) for para (b)(iv) and (v), effective 23 June 2020. No 64 of 2020, s 3 and Sch 3 item 58 contains the following application provision:

58 Application - inactive low-balance accounts  
58
A declaration given to the Commissioner in relation to an account under subparagraph 20QA(1A)(b)(iv) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 and in effect immediately before the commencement of this item continues in effect and may be dealt with, on and after that commencement, as if it were an election in relation to the account under that subparagraph as amended by item 57 of this Schedule.

Para (b)(iv) and (v) formerly read:

(iv) the member, by written notice given to the Commissioner, declared that the member was not a member of an inactive low-balance account;

(v) the superannuation provider was owed an amount in respect of the member.

S 20QA(3) amended by No 79 of 2019, s 3 and Sch 1 item 7, by substituting "subparagraphs (1)(a)(iv), (v), (viii) and (ix)" for "subparagraphs (1)(a)(iv), (v) and (viii)", effective 3 October 2019.

S 20QA inserted by No 16 of 2019, s 3 and Sch 3 item 30, effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

Div 2 inserted by No 16 of 2019, s 3 and Sch 3 item 30, effective 13 March 2019. For application and transitional provisions, see note under Part 3B heading.

S 20QB(2) substituted by No 64 of 2020, s 3 and Sch 3 item 59, effective 23 June 2020. S 20QB(2) formerly read:

20QB(2)
If, at the end of the unclaimed money day, there are no balances held in inactive low-balance accounts, the statement must say so.

S 20QB(3) amended by No 47 of 2021, s 3 and Sch 1 item 38, by substituting "no more than 6 members" for "fewer than 5 members" in the note, effective 1 July 2021.

S 20QB(3) substituted by No 64 of 2020, s 3 and Sch 3 item 59, effective 23 June 2020. S 20QB(3) formerly read:

20QB(3)
The statement must also contain information, required by the approved form, relevant to any account that ceases to be an inactive low-balance account during the period that:

(a) starts on the unclaimed money day; and

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

S 20QB(4) amended by No 47 of 2021, s 3 and Sch 1 item 39, by substituting "no more than 6 members" for "fewer than 5 members" in para (a), effective 1 July 2021.

S 20QB(4) substituted by No 64 of 2020, s 3 and Sch 3 item 59, effective 23 June 2020. S 20QB(4) formerly read:

20QB(4)
This section 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) there are no inactive low-balance accounts.