SUPERANNUATION (UNCLAIMED MONEY AND LOST MEMBERS) ACT 1999

PART 3 - PAYMENT OF UNCLAIMED MONEY TO THE COMMISSIONER  

Division 1 - Preliminary  

SECTION 15   SUPERANNUATION PROVIDER MUST MAKE REASONABLE EFFORTS TO ENSURE THAT THE PERSON RECEIVES THE BENEFIT  

15(1)  
If paragraphs 14(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 person entitled to receive the benefit does receive the benefit.

15(2)   Offence.  

A superannuation provider commits an offence if the superannuation provider fails to comply with the obligation set out in subsection (1).

Penalty for contravention of this subsection: 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.




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