Document ID: chunk:federal_register_of_legislation:C2019C00093:clause:1_29wa
Version: federal_register_of_legislation:C2019C00093
Segment Type: clause
Provision Reference: sch 1 cl 29WA
Character Range: 39117–40578

29WA  Contributions in relation to which no election is made are to be paid into MySuper product
 (1) This section applies if:
 (a) a person is a member of a regulated superannuation fund; and
 (b) a contribution to the fund is made for the benefit of the person; and
 (c) either:
 (i) the person has not given the trustee, or the trustees, of the fund an election in writing that the contribution is to be paid into a specified choice product, or choice products; or
 (ii) the person has given the trustee, or the trustees, of the fund an election in writing to have some of the contribution paid into a specified choice product, or choice products, but no such election has been made in relation to the remainder of the contribution.
 (2) The trustee, or trustees, of the fund must treat any contribution to the fund in relation to which no election has been made, and any part of a contribution to the fund in relation to which no election has been made, as a contribution to be paid into a MySuper product of the fund.
 (3) A trustee commits an offence if the trustee contravenes subsection (2). This is an offence of strict liability.
Penalty: 50 penalty units.
Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility and Part IA of the Crimes Act 1914 contains provisions dealing with penalties.
Note 2: For strict liability, see section 6.1 of the Criminal Code.

Part 2—Application and transitional provisions