Superannuation (Unclaimed Money and Lost Members) Act 1999

PART 3B - PAYMENT OF LOW BALANCES IN INACTIVE ACCOUNTS TO THE COMMISSIONER  

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History

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.

Division 4 - Various rules for special cases  

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History

Div 4 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.

SECTION 20QG  

20QG   STATE OR TERRITORY PUBLIC SECTOR SUPERANNUATION SCHEMES  

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Subject to section 20QH , sections 20QB and 20QD do not apply to a superannuation provider in relation to an unclaimed money day if, because of section 18 , the superannuation provider does not have to comply with subsection 16(1) or 17(1) in relation to the unclaimed money day.

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History

S 20QG 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.

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