59
CurrentNo withdrawals for 14 days after shortfall component credited to account
Part 7Withdrawal of account balances
Division 2No withdrawals for 14 days after deposit credited to account etc.
59 No withdrawals for 14 days after shortfall component credited to account
When section applies
(1)
This section applies to an individual’s account if:
(a)
an amount was credited to the account under section 65 of the Superannuation Guarantee (Administration) Act 1992 at a particular time (the credit time); and
(b)
a request under this Part is made during the period of 14 days beginning at the credit time.
Request frozen for 14 days
(2)
The request has no effect at any time during that 14‑day period.
Note:
This gives the Commissioner a chance to correct mistakes.
This Act’s bill:Second reading speech
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