Superannuation Industry (Supervision) Regulations 1994

PART 6 - PAYMENT STANDARDS  

Division 6.3 - Cashing of benefits  

Subdivision 6.3.2 - Approved deposit funds  

REGULATION 6.24B   6.24B   CASHING OF BENEFITS IN APPROVED DEPOSIT FUNDS - PAYMENT TO COMMISSIONER OF TAXATION  

If the trustee of an approved deposit fund is required to pay an amount to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999 for a person ' s superannuation interest in the fund, the amount must be cashed in favour of the Commissioner of Taxation as a lump sum.

Note: An amount to be paid under the Superannuation (Unclaimed Money and Lost Members) Act 1999 must be paid by the time required under that Act.