Unclaimed Superannuation Benefits Act 1998

The trustee of a fund must give to the Treasurer a statement (in a form approved by the Treasurer) of all unclaimed superannuation benefits in the fund as at 30 June 1997, as at 31 December 1997 and as at the end of each subsequent half-year.

The trustee must give the Treasurer the statement:

as at 30 June 1997, on or before 30 April 1998;

in relation to a half-year ending on 31 December, on or before the following 30 April; or

in relation to a half-year ending on 30 June, on or before the following 31 October, or on or before a later date that the Treasurer approves by notice in writing given to the trustee whether before or after 31 October or 30 April, as the case requires.

If, after the end of a half-year and before the trustee gives the statement to the Treasurer, the trustee pays any unclaimed superannuation benefit to a person who is entitled to it, the statement must contain the particulars about the payment as required by the form approved under subsection (1).

An approval by the Treasurer of a form of statement for the purposes of subsection (1) may require or permit the statement to be given on a specified kind of data processing device in accordance with specified software requirements.

A trustee who fails to comply with a provision of this section is guilty of an offence if the failure is intentional or results from failure on the part of the trustee to take reasonable care to comply with the provision.