Superannuation (Unclaimed Money and Lost Members) Act 1999
This section applies if:
(a) a superannuation provider for a fund (the first fund ) has made a payment to the Commissioner under section 24E in respect of a person; and
(b) the Commissioner is satisfied that the amount paid exceeded the amount (if any) that was payable under that section in respect of the person. 24J(2)
The Commissioner must pay the excess:
(a) to the superannuation provider; or
(b) to a superannuation provider for another fund if the Commissioner is satisfied that:
(i) the first fund no longer exists; and
(ii) the other fund provides rights relating to the person equivalent to those provided by the first fund.
Money for payments under subsection (2) is appropriated by section 16 of the Taxation Administration Act 1953 .
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