Small Superannuation Accounts Act 1995

This section applies if:

a deposit or purported deposit was made in respect of an individual; and

the individual’s account was credited with an amount equal to the deposit or purported deposit; and

the credit was made in consequence of the deposit or purported deposit; and

the deposit or purported deposit was accompanied by a deposit form, or a purported deposit form, that, in so far as it related to the deposit or purported deposit:

contained a declaration, or information, that was false or misleading in a material particular; or

had some other defect or irregularity; and

the balance of the individual’s account is attributable, in whole or in part, to the deposit or purported deposit.

The Commissioner of Taxation may decide to pay to the depositor or purported depositor an amount (the refund payment) equal to the deposit or purported deposit.

The Special Account is debited for the purposes of making the refund payment.

When the refund payment is made, the individual’s account is debited by the amount of the refund payment.

The Commissioner of Taxation must not exercise a power conferred by this section in a manner that would be inconsistent with an obligation imposed on him or her by Part 7.

Part 7 deals with withdrawals.