Document ID: chunk:federal_register_of_legislation:C2022C00273:section:12
Version: federal_register_of_legislation:C2022C00273
Segment Type: section
Provision Reference: s 12
Character Range: 30424–31616

12  Meaning of unclaimed money—general meaning
 (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.