Document ID: chunk:federal_register_of_legislation:C2005C00431:section:7:p1
Version: federal_register_of_legislation:C2005C00431
Segment Type: section
Provision Reference: s 7 (pt 1/3)
Character Range: 14127–16868

7  Effect of contravention of prescribed requirements

 (1) Any act done in relation to the provision of superannuation benefits that contravenes any of the prescribed requirements referred to in section 6 is void to the extent that it contravenes the requirements.

 (3) Where, because of the operation of subsection (1) of this Act or subsection 7(2) of the Superannuation Benefits (Supervisory Mechanisms) Act 1990 as in force immediately before 1 July 1994, the payment of money by a person or body to another person or body is void, then, unless the Minister has declared in writing that this subsection does not apply:
 (a) the money so paid is recoverable as a debt due to the person or body who paid it; and
 (b) if the person or body who paid the money is the employer and the Minister has directed that person or body, by notice in writing, to take action to recover it—the person or body must take action to recover it accordingly.

 (4) Where, because of the operation of subsection 5(6) or (10) of this Act, or subsection 5(4) or (5) of the Superannuation Benefits (Supervisory Mechanisms) Act 1990 as in force immediately before 1 July 1994, a superannuation arrangement, or an amendment of a superannuation arrangement, is of no force or effect, the Minister may, after having regard to the consequences to persons receiving, or likely to receive, benefits under the arrangement, by determination in writing:
 (a) declare the arrangement or amendment, and all or any actions associated with its establishment, making or operation, to have the same force and effect as if it had made provision for, or constituted the provision of, superannuation benefits in accordance with the requirements of this Act; or
 (b) declare the arrangement or amendment, and all or any actions associated with its establishment, making or operation, to have the force and effect referred to in paragraph (a) if the employer concerned, within a period specified in the determination, takes, to the satisfaction of the Minister, such action in relation to the arrangement or amendment as is specified in the determination, being action that, in the opinion of the Minister:
 (i) will most effectively modify the operation of the arrangement or amendment so that its effect will be substantially similar to the effect it would have had if it had made provision for, or constituted the provision of, superannuation benefits in accordance with the requirements of this Act; or
 (ii) if it cannot be so modified—will most effectively restrict the operation of the arrangement or amendment.

 (5) Where, because of the operation of subsection 5(6) of this Act, or subsection 5(4) or (5) of the Superannuation Benefits (Supervisory Mechanisms) Act 1990 as