Payment of unclaimed money to eligible roll‑over fund
158A Payment of unclaimed money to eligible roll‑over fund
If:
a lump sum benefit is payable under this Act to a person; and
the person fails, within 90 days after the benefit becomes payable, to tell CSC in writing how the person wishes the benefit to be paid;
CSC may pay the amount of the benefit to an eligible roll‑over fund.
If:
subsection (1) applies in relation to a benefit that is payable to a person; and
under the SIS Act the amount of the benefit is required to be paid to an eligible roll‑over fund;
CSC must comply with the requirement.
If:
subsection (1) applies in relation to a benefit that is payable to a person; and
the amount of the benefit is unclaimed money within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999 and is required to be paid to the Commissioner of Taxation under that Act;
CSC must comply with the requirement.
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