Superannuation (Unclaimed Money and Lost Members) Act 1999

PART 4A - PAYMENT OF LOST MEMBER ACCOUNTS TO THE COMMISSIONER  

Division 4 - Various rules for special cases  

SECTION 24HA   PRESCRIBED PUBLIC SECTOR SUPERANNUATION SCHEMES  

24HA(1)  


Section 6 , subsections 19(1) to (3) , this Part (other than sections 24F and 24H ) and subsection 25(4) 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;

were a fund; and

Note:

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


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


(c) a member of the scheme were a member of the fund.

24HA(2)  
Despite subsection (1), in the case of a State or Territory public sector superannuation scheme:


(a) section 24C (Statement of lost member accounts):


(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


(b) section 24E (Payment in respect of lost member accounts):


(i) does not apply in relation to an unclaimed money day if the trustee does not give a statement in relation to the unclaimed money day to the Commissioner under section 24C ; 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.

24HA(3)  
Subparagraphs (2)(a)(i) and (b)(ii) do not apply in relation to an unclaimed money day if, disregarding this section:


(a) the public sector superannuation scheme is a fund; and


(b) the superannuation provider has to comply with subsections 16(1) and 17(1) in relation to the unclaimed money day.


 

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