Document ID: chunk:federal_register_of_legislation:C2022C00273:section:24na:p1
Version: federal_register_of_legislation:C2022C00273
Segment Type: section
Provision Reference: s 24NA (pt 1/2)
Character Range: 177665–180377

24NA  Transferring balances to an active account
 (1) This section applies in relation to a person if:
 (a) the Commissioner is satisfied that:
 (i) a superannuation provider has paid an amount to the Commissioner under subsection 17(1) (unclaimed money) and, after applying Part 3 and section 20H, the Commissioner holds an amount under that Part in respect of the person (a superannuation amount); or
 (ii) a superannuation provider has paid an amount to the Commissioner under section 20QD (an amount from an inactive low‑balance account) and, after applying Part 3B and section 20H, the Commissioner holds an amount under that Part in respect of the person (a superannuation amount); or
 (iia) a superannuation provider has paid an amount to the Commissioner under section 21C (an amount from an account of an eligible rollover fund) and, after applying Part 3C and section 20H, the Commissioner holds an amount under that Part in respect of the person (a superannuation amount); or
 (iib) a superannuation provider has paid an amount to the Commissioner under section 22 (an amount paid by a superannuation provider on a voluntary basis) and, after applying Part 3D and section 20H, the Commissioner holds an amount under that Part in respect of the person (a superannuation amount); or
 (iii) a superannuation provider has paid an amount to the Commissioner under section 24E (an amount from a lost member account) and, after applying Part 4A and section 20H, the Commissioner holds an amount under that Part in respect of the person (a superannuation amount); and
 (b) the Commissioner is satisfied, on application in the approved form or on the Commissioner's own initiative, that it is possible for the Commissioner to pay the superannuation amount in accordance with subsection (2).
 (1A) The Commissioner must pay the superannuation amount in accordance with subsection (2) within 28 days after the Commissioner is satisfied it is possible to pay that amount in accordance with that subsection.
 (2) The Commissioner must pay each superannuation amount in respect of the person to a single fund if:
 (a) the person has not died; and
 (b) the superannuation provider for the fund holds an account on behalf of the person in the fund; and
 (c) the superannuation provider for the fund has received an amount in respect of the person during the prescribed period; and
 (d) the balance of the account will be equal to or greater than $6,000 if all of the superannuation amounts in respect of the person are paid into the account; and
 (e) under the terms of the fund, and under the law of the Commonwealth, the fund can accept payment of the superannuation amount in respect of the person; and
 (f) in the