Commonwealth Consolidated Acts

SUPERANNUATION (UNCLAIMED MONEY AND LOST MEMBERS) ACT 1999 - SECT 20K

  (1)   This section applies if:

  (a)   a superannuation provider has made a payment under subsection   20F(1) because of a notice about a person and a fund; and

  (b)   the Commissioner is satisfied that the amount paid exceeded the amount (if any) that was payable under that subsection because of the notice.

  (2)   The Commissioner must pay the excess:

  (a)   to the superannuation provider for the fund; or

  (b)   if the Commissioner is satisfied that:

  (i)   the fund no longer exists; and

  (ii)   another fund provides rights relating to the person equivalent to those provided by the fund whose superannuation provider made the payment under subsection   20F(1);

    to the superannuation provider for the other fund.

Note:   Money for payments under this section is appropriated by section   16 of the Taxation Administration Act 1953 .