Western Australian Bills Western Australian Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Unclaimed Money (Superannuation and RSA
Providers) Bill 2002
CONTENTS
Part 1 -- Preliminary
1. Short title 2
2. Commencement 2
3. Overview of this Act 2
4. Meaning of terms used in this Act 2
5. Status of notes 4
Part 2 -- Obligations of superannuation
providers
6. Statement of unclaimed money (Commonwealth Act
s.18(4) and (5) table items 1 and 2) 5
7. Payment of unclaimed money to the Treasurer
(Commonwealth Act s.18(4) table item 3) 6
8. Records of superannuation providers 7
9. Discharge of superannuation providers from liability 7
10. Superannuation providers not in breach of trust 8
Part 3 -- Administration
Division 1 -- The register, and payment of
unclaimed money by the Treasurer
11. Register of unclaimed money (Commonwealth Act
s.18(4) table item 4) 9
12. Publication etc. of information in the register 10
13. Payment of unclaimed money by the Treasurer
(Commonwealth Act s.18(5) table items 3 and 4) 10
158 -- 1 page i
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Contents
Division 2 -- Access to information
14. Access to premises 11
15. Obtaining information and documents 12
Part 4 -- Privacy
16. Persons to whom this Part applies 13
17. Information may be recorded or divulged only for the
purposes of this Act 13
18. Courts may not require information or documents 14
19. Information may be divulged to persons performing
duties under this Act 14
20. Information may be divulged to a court for the
purposes of this Act 14
21. Information may be divulged with the consent of the
superannuation provider or individual 15
Part 5 -- Miscellaneous
22. Approved forms 16
23. Delegation by the Treasurer 16
24. Authorised officers 17
25. Regulations 17
26. Unclaimed Money Act 1990 amended 17
page ii
Western Australia
LEGISLATIVE ASSEMBLY
Unclaimed Money (Superannuation and RSA
Providers) Bill 2002
A Bill for
An Act to enable unclaimed money held by certain superannuation
and RSA providers to be paid to the Treasurer, to provide for a
register of such unclaimed money, and for related purposes.
The Parliament of Western Australia enacts as follows:
page 1
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Part 1 Preliminary
s. 1
Part 1 -- Preliminary
1. Short title
This Act may be cited as the Unclaimed Money
(Superannuation and RSA Providers) Act 2002.
5 2. Commencement
This Act comes into operation at the beginning of the first
half-year after this Act receives the Royal Assent.
3. Overview of this Act
(1) The Superannuation (Unclaimed Money and Lost Members)
10 Act 1999 of the Commonwealth requires superannuation
providers to give information about unclaimed money to the
Commonwealth Commissioner of Taxation and to make
payments of unclaimed money to the Commissioner.
(2) However, that Act allows superannuation providers to give that
15 information and pay that money to an authority of the State
instead if a law of the State imposes on superannuation
providers certain obligations as to providing that information
and paying that money.
(3) This Act imposes those obligations on superannuation
20 providers.
4. Meaning of terms used in this Act
In this Act, unless the contrary intention appears --
"approved deposit fund" has the meaning given by the
Superannuation Industry (Supervision) Act 1993 of the
25 Commonwealth;
"approved form" means a form approved by the Treasurer
under section 22 for the purposes of the provision in which
the term is used;
page 2
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Preliminary Part 1
s. 4
"authorised officer" means a person who has been authorised
by the Treasurer under section 24 for the purposes of the
provision in which the term is used;
"Commonwealth Act" means the Superannuation (Unclaimed
5 Money and Lost Members) Act 1999 of the
Commonwealth;
"Commonwealth Commissioner of Taxation" means the
person holding, or acting in, the office of Commissioner of
Taxation under the Taxation Administration Act 1953 of
10 the Commonwealth;
"half-year" means a period of 6 months ending on 30 June or
31 December;
"member" means --
(a) a member of a regulated superannuation fund;
15 (b) a member of a regulated exempt public sector
superannuation scheme;
(c) a depositor with an approved deposit fund; or
(d) a holder of an RSA;
"protected document" means a document that --
20 (a) contains information about a person; and
(b) is obtained or made by a person referred to in
section 16(1) in the course of, or because of, the
person's duties under or in relation to this Act;
"protected information" means information that --
25 (a) concerns a person; and
(b) is disclosed to, or obtained by, a person referred to in
section 16(1) in the course of, or because of, the
person's duties under or in relation to this Act;
"registered office", in relation to a corporation registered under
30 the Corporations Act 2001 of the Commonwealth, means
the corporation's registered office under that Act;
page 3
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Part 1 Preliminary
s. 5
"regulated exempt public sector superannuation scheme"
has the meaning given by Part 25A of the Superannuation
Industry (Supervision) Act 1993 of the Commonwealth;
"regulated superannuation fund" has the meaning given by
5 the Superannuation Industry (Supervision) Act 1993 of the
Commonwealth;
"RSA" or "retirement savings account" has the meaning
given by the Retirement Savings Accounts Act 1997 of the
Commonwealth;
10 "superannuation provider" means a superannuation provider,
within the meaning given by the Commonwealth Act, that
or who is --
(a) a body corporate that has its registered office or
principal place of business in the State; or
15 (b) a natural person who has his or her principal place of
business in the State;
Note: A superannuation provider includes a trustee of a regulated
superannuation fund, a trustee of an approved deposit fund and an
RSA provider, see section 8 of the Commonwealth Act.
20 "tax file number" has the meaning given by the Income Tax
Assessment Act 1936 of the Commonwealth;
"Treasurer" means the Treasurer of the State;
"trustee" has the meaning given by the Superannuation
Industry (Supervision) Act 1993 of the Commonwealth;
25 "unclaimed money" has the meaning given by sections 12 and
14 of the Commonwealth Act.
5. Status of notes
Notes in this Act are provided to assist understanding and do not
form part of the Act.
page 4
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Obligations of superannuation providers Part 2
s. 6
Part 2 -- Obligations of superannuation providers
6. Statement of unclaimed money (Commonwealth Act s.18(4)
and (5) table items 1 and 2)
(1) A superannuation provider must give to the Treasurer a
5 statement of all unclaimed money as at the end of each
half-year.
(2) The statement must contain the information required by the
Treasurer and be in an approved form.
Note: Section 25(2) of the Commonwealth Act provides that the
10 superannuation provider may be required to set out in the approved
form --
(a) the tax file number of the superannuation provider; and
(b) the tax file number of any member of the fund to whom the
statement relates and who has quoted his or her tax file number
15 to the superannuation provider.
(3) If --
(a) the superannuation provider pays any of the unclaimed
money to a person who is entitled to it; and
(b) the payment is made between the end of the half-year
20 and the day on which the statement is given to the
Treasurer,
the statement must also contain the particulars relating to the
amounts paid that are required by the Treasurer, as set out in the
approved form.
25 (4) A statement under subsection (1) must be given --
(a) in relation to a half-year ending on 30 June in a calendar
year -- before 1 November in that calendar year; or
(b) in relation to a half-year ending on 31 December in a
calendar year -- before 1 May in the following calendar
30 year.
page 5
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Part 2 Obligations of superannuation providers
s. 7
(5) The Treasurer may, in writing, provide for a later day to apply
under subsection (4)(a) or (b) which may be done before, on or
after the day specified in the paragraph concerned.
(6) A superannuation provider commits an offence if the
5 superannuation provider fails to comply with an obligation set
out in subsection (1), (2), (3) or (4).
Penalty: $11 000.
(7) To the extent that it relates to subsection (4), subsection (6) does
not apply if --
10 (a) the Treasurer has provided under subsection (5) for a
later day to apply under subsection (4)(a) or (b); and
(b) the superannuation provider gave the statement under
subsection (1) before that later day.
7. Payment of unclaimed money to the Treasurer
15 (Commonwealth Act s.18(4) table item 3)
(1) On giving the statement to the Treasurer, the superannuation
provider must pay to the Treasurer the amount worked out using
the following formula --
Amount of unclaimed money Unclaimed money paid
--
specified in statement by provider
where --
20 "amount of unclaimed money specified in statement" means
the amount specified in the statement in accordance with
section 6(1);
"unclaimed money paid by provider" means any amounts
specified in the statement in accordance with section 6(3).
25 (2) A superannuation provider commits an offence if the
superannuation provider fails to comply with the obligation set
out in subsection (1).
Penalty: $11 000.
page 6
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Obligations of superannuation providers Part 2
s. 8
8. Records of superannuation providers
(1) A superannuation provider must keep records that record and
explain all transactions and other acts engaged in by the
provider, or required to be engaged in by the provider, under
5 this Act.
(2) The records must be --
(a) kept in writing in the English language or so as to enable
the records to be readily accessible and convertible into
writing in the English language; and
10 (b) kept at the superannuation provider's registered office or
principal place of business.
(3) A superannuation provider who has possession of any records
kept or obtained under or for the purposes of this Act must
retain them until the later of --
15 (a) the end of 5 years after they were prepared or obtained;
or
(b) the completion of the transactions or acts to which those
records relate.
(4) This section does not require a superannuation provider to retain
20 records if the Treasurer has notified the provider that the
retention of the records is not required.
(5) A superannuation provider commits an offence if the
superannuation provider fails to comply with an obligation set
out in this section.
25 Penalty: $6 600.
9. Discharge of superannuation providers from liability
Upon payment to the Treasurer of an amount as required by this
Act, the superannuation provider is discharged from further
liability in respect of that amount.
page 7
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Part 2 Obligations of superannuation providers
s. 10
10. Superannuation providers not in breach of trust
Nothing done by a superannuation provider in accordance with
this Act is to be regarded for any purpose as constituting a
breach of trust by the superannuation provider.
page 8
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Administration Part 3
The register, and payment of unclaimed money by the Division 1
Treasurer
s. 11
Part 3 -- Administration
Division 1 -- The register, and payment of unclaimed money by
the Treasurer
11. Register of unclaimed money (Commonwealth Act s.18(4)
5 table item 4)
(1) The Treasurer must keep a register that contains particulars
of --
(a) unclaimed money paid by a superannuation provider to
the Treasurer under this Act; and
10 (b) each member in respect of whom unclaimed money has
been paid to the Treasurer.
Note: The register may contain a person's tax file number (see section 27
of the Commonwealth Act).
(2) The register may contain information --
15 (a) originally contained in the register referred to in
section 19 of the Commonwealth Act and kept by the
Commonwealth Commissioner of Taxation; and
(b) given to the Treasurer by the Commissioner.
(3) The register may contain other information given to the
20 Treasurer that is of the type contained in the register.
(4) The register may contain the following --
(a) information relating to members of a regulated exempt
public sector superannuation scheme;
(b) particulars that, if the scheme were a regulated
25 superannuation fund, would be particulars of unclaimed
money in respect of the scheme;
(c) information given to the Treasurer by the trustee of the
scheme.
page 9
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Part 3 Administration
Division 1 The register, and payment of unclaimed money by the
Treasurer
s. 12
(5) A trustee of a regulated exempt public sector superannuation
scheme may, in the approved form, give the information
referred to in subsection (4) to the Treasurer.
Note: Section 26(2) of the Commonwealth Act provides that the trustee
5 may set out in the approved form --
(a) the tax file number of the scheme; and
(b) the tax file number of any member of the scheme who has
quoted his or her tax file number to the trustee.
12. Publication etc. of information in the register
10 (1) The Treasurer may authorise information in the register
mentioned in section 11 to be --
(a) published in the Gazette;
(b) made available to the public (whether or not on the
payment of a fee) in such other manner as the Treasurer
15 determines; or
(c) made available to a particular person (whether or not on
the payment of a fee) in such manner as the Treasurer
determines.
(2) The authorisation may extend to so much of the information in
20 the register as the Treasurer considers appropriate.
(3) Subsection (1) does not apply to tax file numbers.
13. Payment of unclaimed money by the Treasurer
(Commonwealth Act s.18(5) table items 3 and 4)
(1) The Treasurer must pay unclaimed money to a person if --
25 (a) unclaimed money has been paid to the Treasurer under
section 7 by a superannuation provider; and
(b) the Treasurer is satisfied, on application made in the
approved form by the person, that the superannuation
provider would have paid the unclaimed money to the
30 person had the money not been paid to the Treasurer.
page 10
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Administration Part 3
Access to information Division 2
s. 14
(2) If a superannuation provider satisfies the Treasurer that an
amount paid to the Treasurer under section 7 exceeds the
amount that would have been paid to the person concerned, the
Treasurer must refund to the superannuation provider the
5 amount of the excess.
(3) Payments under this section are charged to the Consolidated
Fund which is appropriated accordingly.
Division 2 -- Access to information
14. Access to premises
10 (1) For the purposes of this Act, an authorised officer --
(a) may, at any reasonable time, enter and remain on any
premises;
(b) is entitled to full and free access at any reasonable time
to all documents; and
15 (c) may inspect, examine, make copies of, or take extracts
from, any documents.
(2) An authorised officer is not entitled to enter or remain on any
premises if, after having been requested by the occupier to
produce proof of his or her authority, the authorised officer does
20 not produce a written authority signed by the Treasurer stating
that the officer is authorised to exercise powers under this
section.
(3) If an authorised officer enters premises, or proposes to enter
premises, the occupier must provide the officer with all
25 reasonable facilities and assistance for the effective exercise of
the officer's powers under this section.
(4) An occupier commits an offence if the occupier fails to comply
with the obligation set out in subsection (3).
Penalty: $1 100.
page 11
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Part 3 Administration
Division 2 Access to information
s. 15
15. Obtaining information and documents
(1) The Treasurer may, for the purposes of this Act, by written
notice, require a person --
(a) to give to the Treasurer, within a reasonable period, and
5 in a reasonable manner, stated in the notice, any
information that the Treasurer requires;
(b) to attend before the Treasurer, or an authorised officer,
at a reasonable time and place stated in the notice, and
answer questions; and
10 (c) to produce to the Treasurer, or an authorised officer, at a
reasonable time and place stated in the notice, any
documents in the custody or under the control of the
person.
(2) The Treasurer may require the information or answers to be
15 verified or given on oath or affirmation, and either orally or in
writing, and, for that purpose, the Treasurer or an authorised
officer may administer an oath or affirmation.
(3) The oath to be taken or affirmation to be made by a person is an
oath or affirmation that the information or answers the person
20 will give will be true.
(4) The regulations are to prescribe scales of expenses to be
allowed to persons required to attend under this section.
(5) A person commits an offence if the person fails to comply with
a requirement under subsection (1) or (2).
25 Penalty: $2 200.
page 12
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Privacy Part 4
s. 16
Part 4 -- Privacy
16. Persons to whom this Part applies
(1) This Part applies to a person who is or has been --
(a) the Treasurer;
5 (b) a person to whom the Treasurer has delegated a function
or power under this Act;
(c) the holder of an office in the Public Service; or
(d) otherwise appointed or employed by the State or a
provider of services for the State.
10 (2) A person to whom this Part applies must, if and when required
by the Treasurer to do so, make an oath or declaration to
maintain secrecy in accordance with this Part.
(3) The Treasurer may determine, in writing --
(a) the form of the oath or declaration; and
15 (b) the manner in which the oath or declaration must be
made.
17. Information may be recorded or divulged only for the
purposes of this Act
A person to whom this Part applies is guilty of an offence if the
20 person --
(a) makes a record of any protected information; or
(b) whether directly or indirectly, divulges or communicates
to a person any protected information about another
person,
25 and the record is made, or the information is divulged or
communicated other than --
(c) under or for the purposes of this Act; or
(d) in the performance of duties, as a person to whom this
Part applies, under or in relation to this Act.
30 Penalty: Imprisonment for 2 years.
page 13
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Part 4 Privacy
s. 18
18. Courts may not require information or documents
A person to whom this Part applies is not required --
(a) to divulge or communicate protected information to a
court; or
5 (b) to produce a protected document in court,
except where it is necessary to do so for the purpose of
implementing this Act.
19. Information may be divulged to persons performing duties
under this Act
10 Nothing in this Act, or in any other Act of which the Treasurer
has the general administration, prohibits the Treasurer or a
person authorised by the Treasurer from divulging or
communicating any information to a person performing, as a
person to whom this Part applies, duties under or in relation to
15 this Act for the purpose of enabling that person to perform those
duties.
20. Information may be divulged to a court for the purposes of
this Act
Nothing in this Act, or in any other Act of which the Treasurer
20 has the general administration, prohibits the Treasurer, or a
person authorised by the Treasurer, from --
(a) divulging or communicating to a court any information
obtained under or for the purposes of this Act; or
(b) producing in court a document obtained or made under
25 or for the purposes of this Act,
where it is necessary to do so for the purpose of implementing
this Act.
page 14
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Privacy Part 4
s. 21
21. Information may be divulged with the consent of the
superannuation provider or individual
This Act does not prohibit the Treasurer, or a person authorised
by the Treasurer, from divulging or communicating any
5 protected information --
(a) relating to the affairs of a superannuation provider or a
trustee of a regulated exempt public sector
superannuation scheme if the provider or trustee agrees
in writing to the divulging or communicating of the
10 information; or
(b) relating to an individual if the individual agrees in
writing to the divulging or communicating of the
information.
page 15
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Part 5 Miscellaneous
s. 22
Part 5 -- Miscellaneous
22. Approved forms
(1) A notice, application, statement or other document is in the
"approved form" if --
5 (a) it is in the form approved in writing by the Treasurer in
relation to that kind of notice, application, statement or
other document;
(b) it contains the information that the form requires, and is
accompanied by such further information as the form
10 requires; and
(c) it is lodged at the place and in the manner that the
Treasurer requires.
(2) An approval by the Treasurer of a form of notice, application,
statement or other document for the purposes of subsection (1)
15 may require or permit the document to be given on a specified
kind of data processing device in accordance with specified
software requirements.
(3) The Treasurer may combine in the same approved form more
than one notice, application, statement or other document.
20 23. Delegation by the Treasurer
(1) The Treasurer may, either generally or as otherwise provided by
the instrument of delegation, delegate to any Minister any
functions or powers that the Treasurer has under this Act, other
than this power of delegation.
25 (2) The Treasurer or any Minister to whom any function has been
delegated under subsection (1) may, either generally or as
otherwise provided by the instrument of delegation, delegate to
any officer of the Public Service any functions or powers that
the Treasurer has under this Act or that the Minister has under
30 the delegation, other than this power of delegation.
page 16
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Miscellaneous Part 5
s. 24
(3) The delegation must be in writing signed by the Treasurer or
Minister (which ever is relevant).
(4) A person exercising or performing a power or duty that has been
delegated to the person under this section is taken to do so in
5 accordance with the terms of the delegation unless the contrary
is shown.
(5) Nothing in this section limits the ability of the Treasurer or
Minister (which ever is relevant) to perform a function through
an officer or agent.
10 24. Authorised officers
(1) The Treasurer may, in writing, authorise a person who is the
holder of a specified office in the Public Service to be an
authorised officer for the purposes of the specified provision or
provisions of this Act.
15 (2) In this section --
"specified" means specified in the authorisation.
25. Regulations
(1) The Governor may make regulations prescribing all matters that
are required or permitted by this Act to be prescribed, or are
20 necessary or convenient to be prescribed, for giving effect to the
purposes of this Act.
(2) Without limiting subsection (1), the regulations may --
(a) prescribe fees, or a basis for calculating fees, in respect
of any matter under this Act; and
25 (b) prescribe penalties, not exceeding a fine of $550, for
offences against the regulations.
26. Unclaimed Money Act 1990 amended
(1) The amendment in this section is to the Unclaimed Money
Act 1990*.
30 [* Reprinted as at 5 November 1999.]
page 17
Unclaimed Money (Superannuation and RSA Providers) Bill 2002
Part 5 Miscellaneous
s. 26
(2) After section 4(3)(a)(iv) the following subparagraph is
inserted --
"
(v) section 12 or 14 of the Superannuation
5 (Unclaimed Money and Lost Members)
Act 1999;
".
page 18
[Index] [Search] [Download] [Related Items] [Help]