Superannuation (Government Co-Contribution for Low Income Earners) Act 2003

Pt 6 heading substituted by No 2 of 2015, s 3 and Sch 2 item 57, effective 1 July 2015. Pt 6 heading formerly read:

PART 6 - INFORMATION GATHERING

Div 1 heading substituted by No 2 of 2015, s 3 and Sch 2 item 58, effective 1 July 2015. Div 1 heading formerly read:

Division 1 - General

S 27 repealed by No 9 of 2007, s 3 and Sch 4 item 2, applicable in relation to things that are done and events that occur on or after 1 July 2007. S 27 formerly read:

SECTION 27 STATEMENTS WHERE CONTRIBUTED AMOUNTS TRANSFERRED BETWEEN SUPERANNUATION PROVIDERS  
27(1)
This section applies only to financial years that start on or after a day prescribed by the regulations.

27(2)
A superannuation provider commits an offence if:

(a) the provider transfers to another superannuation provider any of the contributed amounts in relation to a member during a financial year; and

(b) the provider fails to give the other provider a statement setting out the prescribed information within 30 days after the day on which the amount is transferred.

Penalty: 50 penalty units.

27(3)
An offence against subsection (2) is an offence of strict liability.