Superannuation (Unclaimed Money and Lost Members) Act 1999
This section applies if:
(a) the Commissioner makes a payment in respect of a person under, or purportedly under, this Part; and
(b) the amount paid exceeds the amount (if any) properly payable under this Part in respect of the person.
[ CCH Note: S 20L(1) will be amended by No 118 of 2020, s 3 and Sch 2 item 18, by inserting " (other than a payment to a KiwiSaver scheme provider) " after " this Part " 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.]
The Commissioner may recover all or part of the excess from a person (the debtor ) described in subsection (3) as a debt due by the debtor to the Commonwealth if the conditions specified in subsection (4) are met. 20L(3)
The persons from whom the Commissioner may recover are as follows:
(a) the person to whom the payment was made (whether the payment was made to the person in his or her own right or as the legal personal representative of someone else who had died);
(b) the superannuation provider for the fund to which the payment was made or, if that payment, or an amount wholly or partly attributable to that payment, was transferred to another fund, the superannuation provider for that other fund. 20L(4)
The conditions for recovery are that:
(a) the Commissioner gave the debtor written notice, as prescribed by the regulations, of the proposed recovery and the amount to be recovered; and
(b) at least 28 days have passed since the notice was given; and
(c) the amount recovered is not more than the amount specified in the notice.
Despite subsections (2) and (3), if the Commissioner gives a notice described in paragraph (4)(a) to a superannuation provider for a fund, and the fund does not hold an amount attributable to the payment, the Commissioner cannot recover from the superannuation provider. 20L(6)
The Commissioner may revoke a notice described in paragraph (4)(a). 20L(7)
The total of the amounts recovered from different debtors in relation to the same excess must not be more than the excess. 20L(8)
A notice described in paragraph (4)(a) is not a legislative instrument.