Superannuation (Unclaimed Money and Lost Members) Act 1999
PART 3
-
PAYMENT OF UNCLAIMED MONEY TO THE COMMISSIONER
Division 1
-
Preliminary
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.
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.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.