Document ID: chunk:federal_register_of_legislation:F2021C00237:reg:7:p34
Version: federal_register_of_legislation:F2021C00237
Segment Type: reg
Provision Reference: reg 7 (pt 34/46)
Character Range: 127462–130326

to or withdrawn from the PSSAP Fund by mistake (whether of law or of fact), CSC must take steps to correct the mistake, including:
           (a) in the case of moneys paid by mistake — refunding those moneys to the person who paid them to the PSSAP Fund and doing all things necessary to correct the records of the PSSAP Fund to reflect such refunding;
           (b) in the case of moneys withdrawn by mistake — taking all reasonable steps to recover the moneys and doing all things necessary to correct the records of the PSSAP Fund to reflect such recovery.
     Note:   Among other things, Rule 5.5.1 covers the situation where an amount transferred to CSC by the Australian Taxation Office under Rule 2.4.1(c) or (d) has been found, upon reassessment by the Commissioner of Taxation, to be more than the correct amount.

 CSC must redirect incorrectly paid amounts and correct personal accumulation accounts, pension accounts and non‑member spouse accounts
 5.5.2 If any moneys paid to or withdrawn from the personal accumulation account, pension account or non‑member spouse interest account of a PSSAP member, PSSAP pensioner or reversionary beneficiary were, in the opinion of CSC, paid into or withdrawn from the respective account by mistake (whether of law or of fact), CSC must take steps to correct the mistake, including:
           (a) withdrawing an amount from the personal accumulation account, pension account or non‑member spouse interest account or paying an amount to the personal accumulation account, pension account or non‑member spouse interest account; and
           (b) doing all things necessary to correct the records of the PSSAP Fund to reflect action taken under paragraph (a).

   CSC must return contributions that should not have been accepted

 5.5.3 If CSC becomes aware that it has accepted contributions in relation to a PSSAP member which should not be accepted into the PSSAP Fund under the SIS Act, CSC must repay, return or refund them to the contributor and make any adjustments it considers appropriate to the personal accumulation account of the PSSAP member.  Subject to the SIS Act, CSC may adjust the repaid, returned or refunded contributions for:
           (a) insurance premiums paid from the person's personal accumulation account during the period the contributions were held in the PSSAP Fund;
           (b) interest (if any) in respect of the fund earnings or fund losses for the period the contributions were held in the PSSAP Fund; and
           (c) fees, costs and expenses paid from the person's personal accumulation account during the period the contributions were held in the PSSAP Fund.
       Note:   Among other things, Rule 5.5.3 covers the situation where a member contributes an amount that exceeds the non‑concessional contribution cap and CSC must return that amount, in accordance with