Commonwealth Consolidated Acts

SUPERANNUATION (UNCLAIMED MONEY AND LOST MEMBERS) ACT 1999 - SECT 12

  (1)   An amount payable to a member of a fund is taken to be unclaimed money if:

  (a)   the member has reached the eligibility age; and

  (c)   the superannuation provider has not received an amount in respect of the member (and, in the case of a defined benefits superannuation scheme, no benefit has accrued in respect of the member) within the last 2 years; and

  (d)   after the end of a period of 5 years since the superannuation provider last had contact with the member, the provider has been unable to contact the member again after making reasonable efforts.

  (2)   If:

  (a)   a payment split applies to a splittable payment in respect of an interest that a person has as a member of a fund; and

  (b)   as a result, the non - member spouse (or his or her legal personal representative if he or she has died) is entitled to be paid an amount; and

  (c)   after making reasonable efforts and after a reasonable period has passed, the superannuation provider concerned is unable to ensure that the non - member spouse or his or her legal personal representative, as the case may be, receives the amount;

then the amount payable is taken to be unclaimed money .