Superannuation (Unclaimed Money and Lost Members) Act 1999

PART 3A - PAYMENT OF UNCLAIMED SUPERANNUATION OF FORMER TEMPORARY RESIDENTS  

Division 5 - Various rules for special cases  

SECTION 20JA   PRESCRIBED PUBLIC SECTOR SUPERANNUATION SCHEMES  

20JA(1)    
Section 6 , subsections 16(7) , 17(2A) and 19(1) and (3) , this Part (other than subsections 20F(5) and (6) ) and subsections 24C(6) , 24E(5) and 25(2A) apply as if:


(a) a public sector superannuation scheme that:


(i) is prescribed for the purposes of this section; and

(ii) in the case of a Commonwealth public sector superannuation scheme - is not a fund, or is an unfunded public sector scheme;

were a fund; and

Note 1:

The regulations may prescribe a scheme by reference to a class of schemes: see subsection 13(3) of the Legislation Act 2003 .

Note 2:

This Part applies to a Commonwealth public sector superannuation scheme that is not an unfunded public sector scheme whether or not the scheme is prescribed: see section 20C .


(b) the trustee of the scheme were the superannuation provider; and


(c) a person who has an interest in the scheme had a superannuation interest in the fund.


20JA(2)    
Despite subsection (1), in the case of a State or Territory public sector superannuation scheme:


(a) section 20C (notices about certain former temporary residents) permits, rather than requires, the Commissioner to give a notice to the trustee; and


(b) section 20E (statement):


(i) permits, rather than requires, the trustee to give a statement to the Commissioner; and

(ii) does not permit the trustee to give a statement to the Commissioner if the governing rules of the scheme prohibit the trustee from giving the statement to the Commissioner; and


(c) section 20F (payment of unclaimed superannuation):


(i) does not apply in relation to a notice given to the trustee under section 20C if the trustee does not give a statement in relation to the notice to the Commissioner under section 20E ; and

(ii) permits, rather than requires, the trustee to pay an amount to the Commissioner; and

(iii) does not apply to an amount to the extent that the governing rules of the scheme prohibit the trustee from paying the amount to the Commissioner.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.