Superannuation (Unclaimed Money and Lost Members) Act 1999

PART 3 - PAYMENT OF UNCLAIMED MONEY TO THE COMMISSIONER  

Division 1 - Preliminary  

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History

Div 1 heading inserted by No 27 of 2009 , s 3 and Sch 2 item 9, effective 27 March 2009.

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.  

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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.

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History

S 15(2) amended by No 61 of 2016, s 3 and Sch 2 item 100, by substituting " Penalty for contravention of this subsection " for " Maximum penalty " in the penalty, effective 21 October 2016.

S 15(2) amended by No 4 of 2016, s 3 and Sch 4 items 1 and 301, by substituting " commits " for " is guilty of " , effective 10 March 2016.

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