Superannuation (Unclaimed Money and Lost Members) Act 1999

PART 2 - INTERPRETATION  

SECTION 8   8   DEFINITIONS  

In this Act, unless the contrary intention applies:

account
, in a fund that is an RSA, means:

(a) if the RSA is an account - that account; or

(b) if the RSA is a policy (within the meaning of the RSA Act) - that policy.

accrue
, in relation to a benefit for a member of a defined benefits superannuation scheme, has the meaning given by section 9 .

ADI
(authorised deposit-taking institution) means a body corporate that is an ADI for the purposes of the Banking Act 1959 .

annuity
has the same meaning as in the SIS Act.

approved deposit fund
has the same meaning as in the SIS Act.

approved form
has the meaning given by section 388-50 in Schedule 1 to the Taxation Administration Act 1953 .

authorised officer
(Repealed by No 2 of 2015)

choice product
has the same meaning as in the SIS Act.

Commissioner
means the Commissioner of Taxation.

Commonwealth public sector superannuation scheme
means a scheme for the payment of superannuation, retirement or death benefits, where the scheme is established:

(a) by or under a law of the Commonwealth; or

(b) under the authority of:

(i) the Commonwealth; or

(ii) a municipal corporation, another local governing body or a public authority constituted by or under a law of the Commonwealth.

contribution
includes a deposit into an account held at an ADI or a prescribed financial institution and a payment of a premium to a life insurance company.

court
(Repealed by No 145 of 2010)

data processing device
means any article or material (for example, a disk) from which information is capable of being reproduced with or without the aid of any other article or device.

defined benefit member
means a member entitled, on retirement or termination of his or her employment, to be paid a benefit defined, wholly or in part, by reference to either or both of the following:

(a) the amount of:

(i) the member ' s salary at a particular date, being the date of the termination of the member ' s employment or of the member ' s retirement on an earlier date; or

(ii) the member ' s salary averaged over a period before retirement;

(b) a stated amount.

defined benefits superannuation scheme
means:

(a) a public sector superannuation scheme that:

(i) is a regulated superannuation fund or an exempt public sector superannuation scheme; and

(ii) has at least one defined benefit member; or

(b) a regulated superannuation fund (other than a public sector superannuation scheme):

(i) that has at least one defined benefit member; and

(ii) some or all of the contributions to which are not allocated to any individual member but are paid into and accumulated in the fund in the form of an aggregate amount.

eligibility age
has the meaning given by section 10 .

eligible service period
has the same meaning as in Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936 .

engage in conduct
means:

(a) do an act; or

(b) omit to perform an act.

exempt public sector superannuation scheme
has the same meaning as in section 10 of the SIS Act.

financial sector supervisory agency
has the same meaning as in section 3 of the Australian Prudential Regulation Authority Act 1998 .

former temporary resident
has the meaning given by section 20AA .

fund
means:

(a) a regulated superannuation fund; or

(b) an approved deposit fund; or

(c) an RSA.

general interest charge
means the charge worked out under Part IIA of the Taxation Administration Act 1953 .

governing rules
:

(a) in relation to a fund (other than an RSA), scheme or trust - means any trust instrument, other document or legislation, or combination of them, governing the establishment and operation of the fund, scheme or trust; and

(b) in relation to a fund that is an RSA - means the terms and conditions of the RSA.

half-year
means a period of 6 months ending on 30 June or 31 December.

holder
has the same meaning as in the RSA Act.

inactive low-balance account
: see subsections 20QA(1) and (1A) .

inactive low-balance member
has the meaning given by subsection 20QA(2) .

inactive low-balance product
has the meaning given by subsection 20QA(3) .

leave Australia
has the same meaning as in the Migration Act 1958 .

legal personal representative
of a person who has died means an executor or administrator of the person ' s estate.

life insurance company
means:

(a) a body corporate registered under section 21 of the Life Insurance Act 1995 ; or

(b) a public authority:

(i) that is constituted by a law of a State or Territory; and

(ii) that carries on life insurance business within the meaning of section 11 of that Act.

lost member
means a member of a fund who is:

(a) a lost RSA holder within the meaning of the Retirement Savings Accounts Regulations 1997 ; or

(b) a lost member within the meaning of the Superannuation Industry (Supervision) Regulations 1994 .

lost member account
has the meaning given by section 24B .

member
means:

(a) a member of a superannuation fund; or

(b) a depositor with an approved deposit fund; or

(c) a holder of an RSA.

MySuper product
has the same meaning as in the SIS Act.

non-member spouse
has the same meaning as in Part VIIIB of the Family Law Act 1975 .

payment split
means a payment split under Part VIIIB of the Family Law Act 1975 .

pension
has the same meaning as in the SIS Act.

premises
includes:

(a) a structure, building, aircraft, vehicle or vessel; and

(b) any land or place (whether enclosed or built on or not); and

(c) a part of a structure, building, aircraft, vehicle or vessel or of such a place.

premium
means a premium in respect of a policy (within the meaning of the Life Insurance Act 1995 ) and includes an instalment of premium.

prescribed financial institution
means a body prescribed by the regulations for the purposes of this definition.

produce
includes permit access to.

protected document
(Repealed by No 145 of 2010)

protected information
(Repealed by No 145 of 2010)

public sector superannuation scheme
has the same meaning as in the SIS Act.

regulated exempt public sector superannuation scheme
has the same meaning as in Part 25A of the SIS Act.

regulated superannuation fund
has the same meaning as in the SIS Act.

RSA
has the same meaning as in the RSA Act.

RSA Act
means the Retirement Savings Accounts Act 1997 .

RSA provider
has the same meaning as in the RSA Act.

scheduled statement day
has the meaning given by:

(a) in relation to a statement required by Part 3 , 3B or 4A - section 15A ; and

(b) in relation to a statement required by Part 3A - section 20B .

SIS Act
means the Superannuation Industry (Supervision) Act 1993 .

splittable payment
has the same meaning as in Part VIIIB of the Family Law Act 1975 .

State or Territory authority
means a State, a Territory, an authority of a State or an authority of a Territory.

State or Territory public sector superannuation scheme
has the meaning given by subsection 18(7) .

Superannuation Complaints Tribunal
means the Superannuation Complaints Tribunal established by the Superannuation (Resolution of Complaints) Act 1993 .

superannuation fund
has the same meaning as in the SIS Act.

superannuation interest
means:

(a) an interest in a superannuation fund; or

(b) an interest in an approved deposit fund; or

(c) an RSA.

superannuation provider
means:

(a) the trustee of a regulated superannuation fund; or

(b) the trustee of an approved deposit fund; or

(c) an RSA provider.

tax file number
has the meaning given by section 202A of the Income Tax Assessment Act 1936 .

trustee
has the same meaning as in the SIS Act.

unclaimed money
has the meaning given by sections 12 and 14 .

unclaimed money day
has the meaning given by section 15A .

unfunded public sector scheme
has the meaning given by the Superannuation Guarantee (Administration) Act 1992 .