Commonwealth Consolidated Acts

SUPERANNUATION (UNCLAIMED MONEY AND LOST MEMBERS) ACT 1999 - SECT 15

             (1)  If paragraphs 14(a), (b) and (c) are satisfied in relation to a member of a fund, the superannuation provider must make reasonable efforts to ensure that the person entitled to receive the benefit does receive the benefit.

Offence

             (2)  A superannuation provider is guilty of an offence if the superannuation provider fails to comply with the obligation set out in subsection (1).

Maximum penalty: 100 penalty units.

Note 1:       Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2:       See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.