{"id":"C2004A00519","name":"Superannuation (Unclaimed Money and Lost Members) Consequential and Transitional Act 1999","slug":"superannuation-unclaimed-money-and-lost-members-consequential-and-transitional-act-1999","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"128 of 1999","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":436117,"registerId":"C2004A00519-fast-fetch-1775953384543","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Unclaimed Money and Lost Members) Consequential and Transitional Act 1999","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![Commonwealth Coat of Arms of Australia](image.001.png)\n\n \n\n \n\n \n\n \n\nSuperannuation (Unclaimed Money and Lost Members) Consequential and Transitional Act 1999\n\n \n\nNo. 128, 1999\n\n \n\n \n\n \n\n \n\nAn Act to deal with consequential and transitional matters arising from the enactment of the Superannuation (Unclaimed Money and Lost Members) Act 1999, and for other purposes\n\n \n\n \n\nContents\n\nPart 1—Preliminary\n\n1 Short title\n\n2 Commencement\n\nPart 2—Amendment of Acts\n\n3 Schedule(s)\n\nPart 3—Transitional and application provisions\n\n4 Interpretation\n\n5 Transitional—payments of unclaimed money to States and Territories etc.\n\n6 Transitional—treatment of unclaimed money under the RSA Act and the SIS Act\n\n7 Transitional—treatment of particulars relating to lost members under the RSA Act and the SIS Act\n\n8 Application of certain items of Schedule 1\n\n9 Items 2 and 3 of Schedule 3\n\nSchedule 1—Amendments\n\nFinancial Transaction Reports Act 1988\n\nIncome Tax Assessment Act 1936\n\nRetirement Savings Accounts Act 1997\n\nSmall Superannuation Accounts Act 1995\n\nSuperannuation Act 1976\n\nSuperannuation Act 1990\n\nSuperannuation Industry (Supervision) Act 1993\n\nTaxation Administration Act 1953\n\nSchedule 2—Amendments relating to the enactment of the Public Service Act 1999\n\nSuperannuation (Unclaimed Money and Lost Members) Act 1999\n\nSchedule 3—Other amendments\n\nPart 1—Amendments commencing at the same time as the Retirement Savings Accounts (Consequential Amendments) Act 1997\n\nIncome Tax Assessment Act 1936\n\nTaxation Administration Act 1953\n\nPart 2—Amendments commencing on Royal Assent\n\nIncome Tax Assessment Act 1936\n\nTaxation Administration Act 1953\n\n![Commonwealth Coat of Arms of Australia](image.001.png)\n\nSuperannuation (Unclaimed Money and Lost Members) Consequential and Transitional Act 1999\n\nNo. 128, 1999\n\n \n\n \n\n \n\nAn Act to deal with consequential and transitional matters arising from the enactment of the Superannuation (Unclaimed Money and Lost Members) Act 1999, and for other purposes\n\n[Assented to 13 October 1999]\n\nThe Parliament of Australia enacts:\n\n## Part 1—Preliminary\n\n \n\n##### 1  Short title\n\n  This Act may be cited as the Superannuation (Unclaimed Money and Lost Members) Consequential and Transitional Act 1999.\n\n##### 2  Commencement\n\n (1) In this section, commencing time means the time when the Superannuation (Unclaimed Money and Lost Members) Act 1999 commences.\n\n (2) Subject to this section, this Act commences at the commencing time.\n\n (3) If item 264 of Schedule 1 to the Superannuation Legislation (Commonwealth Employment) Repeal and Amendment Act 1999 commences at or after the commencing time, items 41 and 42 of Schedule 1 to this Act commence at the later of:\n\n (a) immediately after the commencing time; and\n\n (b) immediately after the commencement of that item.\n\n (4) If item 868 of Schedule 1 to the Public Employment (Consequential and Transitional) Amendment Act 1999 commences:\n\n (a) before the commencing time—Schedule 2 to this Act commences immediately after the commencing time; or\n\n (b) at or after the commencing time—Schedule 2 to this Act commences at the later of:\n\n (i) immediately after the commencing time; and\n\n (ii) immediately after the commencement of that item.\n\n (5) Items 1, 2 and 3 of Schedule 3 are taken to have commenced at the same time as the Retirement Savings Accounts (Consequential Amendments) Act 1997.\n\n (6) Items 4, 5 and 6 of Schedule 3 commence on the day on which this Act receives the Royal Assent.\n\n\n\n\n## Part 2—Amendment of Acts\n\n \n\n##### 3  Schedule(s)\n\n  Subject to section 2, each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.\n\n\n\n\n## Part 3—Transitional and application provisions\n\n \n\n##### 4  Interpretation\n\n (1) Unless the contrary intention appears, expressions used in this Part that are also used in the Superannuation (Unclaimed Money and Lost Members) Act 1999 have the same meanings as in that Act.\n\n (2) In this Part, unless the contrary intention appears:\n\nNew Act means the Superannuation (Unclaimed Money and Lost Members) Act 1999.\n\n##### 5  Transitional—payments of unclaimed money to States and Territories etc.\n\n (1) If:\n\n (a) a State or Territory does not have a law that satisfies the requirements of section 18 of the New Act; and\n\n (b) at the commencement of the New Act, that State or Territory had a law that satisfied the requirements of section 84 of the RSA Act (as in force before that commencement) and subsections 225(9), (9A) and (9B) of the SIS Act (as then in force); and\n\n (c) those provisions (as in force before that commencement) would, if they were in force after that commencement, require a superannuation provider:\n\n (i) to provide particulars of unclaimed money; and\n\n (ii) to pay an amount of unclaimed money;\n\n  to an authority of that State or Territory;\n\nthe provider must provide the particulars, and pay the amount, to the authority in accordance with those provisions instead of complying with sections 16 and 17 of the New Act.\n\n (2) Subsection (1) ceases to have effect from the first half‑year that starts after the end of the transition period.\n\n (3) In subsection (2):\n\ntransition period means the period of 2 years starting immediately after the commencement of the New Act.\n\n##### 6  Transitional—treatment of unclaimed money under the RSA Act and the SIS Act\n\n (1) If particulars of unclaimed money have been provided, or unclaimed money has been paid, to the Commissioner in accordance with:\n\n (a) Part 8 of the RSA Act; or\n\n (b) Part 22 of the SIS Act;\n\nthose particulars are taken to have been provided, and that money is taken to have been paid, to the Commissioner in accordance with sections 16 and 17 of the New Act.\n\n (2) If particulars of unclaimed money have been provided, or unclaimed money has been paid, to a State or Territory authority in accordance with:\n\n (a) Part 8 of the RSA Act; or\n\n (b) Part 22 of the SIS Act;\n\nthose particulars are taken to have been provided, and that money is taken to have been paid, to the State or Territory authority in accordance with section 18 of the New Act.\n\n##### 7  Transitional—treatment of particulars relating to lost members under the RSA Act and the SIS Act\n\n  If particulars relating to lost members have been provided to the Commissioner in accordance with:\n\n (a) regulations under the RSA Act; or\n\n (b) regulations under the SIS Act;\n\nthose particulars are taken to have been provided to the Commissioner in accordance with a scheme established by regulations in accordance with section 23 of the New Act.\n\n##### 8  Application of certain items of Schedule 1\n\n  Items 8, 10, 12, 13, 14, 34, 35, 39, 44, 45, 46, 47, 48, 49 and 73 of Schedule 1 do not apply in respect of the half‑year in which the New Act receives the Royal Assent.\n\n##### 9  Items 2 and 3 of Schedule 3\n\n  A person is not guilty of an offence if the person would not have been guilty of the offence had the amendments made by items 2 and 3 of Schedule 3 commenced on the day on which this Act received the Royal Assent.\n\n\n\n\n###### Schedule 1—Amendments\n\n \n\nFinancial Transaction Reports Act 1988\n\n1  Paragraph 18(4B)(c)\n\nOmit “83, 84,”.\n\n2  After paragraph 18(4B)(c)\n\nInsert:\n\n (ca) made in accordance with section 17 or 18 of the Superannuation (Unclaimed Money and Lost Members) Act 1999; or\n\nIncome Tax Assessment Act 1936\n\n3  Subsections 27A(3B) and (3C)\n\nOmit “under subsection 225(6) of the Superannuation Industry (Supervision) Act 1993”, substitute “in accordance with section 17 or 18 of the Superannuation (Unclaimed Money and Lost Members) Act 1999”.\n\n4  After subsection 27A(3C)\n\nInsert:\n\n (3D) To avoid doubt, a reference in the definition of relevant service period in subsection (1) to a period during which a taxpayer or fund member was a member of a superannuation fund does not include a reference to a period:\n\n (a) beginning when the trustee of the fund pays unclaimed money to the Commissioner or a State or Territory authority (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) in accordance with that Act; and\n\n (b) ending when the Commissioner or the authority pays the unclaimed money to the taxpayer or fund member in accordance with that Act.\n\n (3E) To avoid doubt, a reference in the definition of relevant service period in subsection (1) to a period during which a taxpayer or depositor was a depositor with an approved deposit fund does not include a reference to a period:\n\n (a) beginning when the trustee of the fund pays unclaimed money to the Commissioner or a State or Territory authority (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) in accordance with that Act; and\n\n (b) ending when the Commissioner or the authority pays the unclaimed money to the taxpayer or depositor in accordance with that Act.\n\n5  Paragraph 27CC(a)\n\nRepeal the paragraph, substitute:\n\n (a) an amount is paid to the Commissioner or a State or Territory authority (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) under that Act; and\n\nNote: The heading to section 27CC of the Income Tax Assessment Act 1936 is altered by omitting “Insurance and Superannuation Commissioner” and substituting “Commissioner etc.”.\n\n6  Section 27CC\n\nOmit “the Insurance and Superannuation Commissioner” (second occurring), substitute “the Commissioner or the authority”.\n\n7  Sub‑subparagraph 140M(1)(a)(i)(B)\n\nOmit “or the Insurance and Superannuation Commissioner”, substitute “, the Commissioner or a State or Territory authority referred to in subsection 18(2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999”.\n\n8  Subparagraph 202(i)(i)\n\nOmit “Parts 22 and”, substitute “Part”.\n\n9  After paragraph 202(i)\n\nInsert:\n\n (ia)  to facilitate the administration of the Superannuation (Unclaimed Money and Lost Members) Act 1999 (including the administration of registers by State or Territory authorities (within the meaning of that Act) in accordance with section 18 of that Act); and\n\n10  Subparagraph 202(k)(i)\n\nOmit “8 and”.\n\n11  Subsection 202DH(1)\n\nAfter “the Superannuation Contributions Tax (Assessment and Collection) Act 1997”, insert “, the Superannuation (Unclaimed Money and Lost Members) Act 1999”.\n\nRetirement Savings Accounts Act 1997\n\n12  Subparagraph 3(1)(c)(ii)\n\nRepeal the subparagraph, substitute:\n\n (ii) Part 7; and\n\n13  Section 16 (definition of eligibility age)\n\nRepeal the definition.\n\n14  Section 16 (definition of unclaimed money)\n\nRepeal the definition.\n\n15  Section 16\n\nInsert:\n\nSuperannuation Acts means:\n\n (a) this Act; and\n\n (b) the Superannuation Contributions Tax (Assessment and Collection) Act 1997; and\n\n (c) the Superannuation Contributions Tax (Members of Constitutionally Protected Funds) Assessment and Collection Act 1997; and\n\n (d) the Superannuation (Unclaimed Money and Lost Members) Act 1999; and\n\n (e) the Termination Payments Tax (Assessment and Collection) Act 1997.\n\n16  Part 8\n\nRepeal the Part.\n\n17  Section 131\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n18  Paragraph 132(b)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n19  Paragraph 133(1)(a)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n20  Section 134\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n21  Subsection 135(1)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n22  Paragraph 136(1)(b)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n23  Paragraph 136(3)(b)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n24  Subsection 137(1)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n25  Paragraph 138(1)(b)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n26  Section 139\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n27  Paragraph 139(b)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n28  Paragraph 140(c)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n29  Paragraph 141(a)\n\nOmit “Surcharge” (wherever occurring), substitute “other Superannuation”.\n\n30  Paragraph 142(2)(a)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n31  Paragraph 143(a)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n32  Subsections 144(3) and (4)\n\nRepeal the subsections.\n\n33  Section 173 (paragraph (b) of the definition of modifiable provision)\n\nOmit “and”, substitute “or”.\n\n34  Section 173 (paragraph (c) of the definition of modifiable provision)\n\nOmit “8 or ”.\n\n35  Section 173 (paragraph (d) of the definition of modifiable provision)\n\nOmit “Parts”, substitute “that Part”.\n\nSmall Superannuation Accounts Act 1995\n\n36  Section 75\n\nOmit “Australian Securities and Investments Commission” (wherever occurring), substitute “Commissioner of Taxation”.\n\n37  Subsections 76(2) and (3)\n\nRepeal the subsections, substitute:\n\nStatement to be given to the Commissioner\n\n (2) As soon as practicable after the end of that period, the Commissioner must record information about the account.\n\nTax file number\n\n (3) If the individual’s tax file number is known to the Commissioner, the record made for the purposes of subsection (2) must set out that tax file number.\n\n38  Subsections 76(6), (7) and (8)\n\nOmit “Australian Securities and Investments Commission”, substitute “Commissioner of Taxation”.\n\n39  Section 77\n\nOmit “section 226 of the Superannuation Industry (Supervision) Act 1993”, substitute “section 19 of the Superannuation (Unclaimed Money and Lost Members) Act 1999”.\n\nSuperannuation Act 1976\n\n40  Subsection 155C(3) (after paragraph (c) of the definition of eligible regulatory law)\n\nInsert:\n\n (ca) the Superannuation (Unclaimed Money and Lost Members) Act 1999; or\n\n41  Paragraph 158A(3)(b)\n\nOmit “section 225 of the SIS Act”, substitute “the Superannuation (Unclaimed Money and Lost Members) Act 1999”.\n\n42  Paragraph 158A(3)(b)\n\nOmit “that section”, substitute “that Act”.\n\nSuperannuation Act 1990\n\n43  Subsection 49(3) (after paragraph (c) of the definition of eligible regulatory law)\n\nInsert:\n\n (ca) the Superannuation (Unclaimed Money and Lost Members) Act 1999; or\n\nSuperannuation Industry (Supervision) Act 1993\n\n44  Subsection 2(3)\n\nOmit “22,”.\n\n45  Section 4 (table row relating to Part 22)\n\nRepeal the row.\n\n46  Subparagraph 6(1)(c)(v)\n\nRepeal the subparagraph.\n\n47  Subsection 10(1) (definition of eligibility age)\n\nRepeal the definition.\n\n48  Subsection 10(1) (definition of unclaimed money)\n\nRepeal the definition.\n\n49  Part 22\n\nRepeal the Part.\n\n50  Section 299A\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n51  Paragraph 299B(b)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n52  Paragraph 299C(1)(a)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n53  Section 299D\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n54  Subsection 299E(1)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n55  Subsection 299G(1)\n\nOmit “Surcharge” (wherever occurring), substitute “other Superannuation”.\n\n56  Paragraph 299G(3)(b)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n57  Subsection 299H(1)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n58  Subsection 299J(1)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n59  Subsection 299K(1)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n60  Subsection 299L(1)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n61  Paragraph 299M(1)(b)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n62  Paragraph 299N(1)(b)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n63  Section 299P\n\nOmit “Surcharge” (wherever occurring), substitute “other Superannuation”.\n\n64  Paragraph 299Q(c)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n65  Paragraph 299R(1)(a)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n66  Paragraph 299R(2)(a)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n67  Paragraph 299S(2)(a)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n68  Paragraph 299T(d)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n69  Subsections 299U(4) and (5)\n\nRepeal the subsections.\n\n70  Section 299W\n\nInsert:\n\nSuperannuation Acts means the following:\n\n (a) this Act;\n\n (b) the Superannuation Contributions Tax (Assessment And Collection) Act 1997;\n\n (c) the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997;\n\n (d) the Superannuation (Unclaimed Money and Lost Members) Act 1999;\n\n (e) the Termination Payments Tax (Assessment and Collection) Act 1997.\n\n71  Subsection 299Z(2)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n72  Subsection 299Z(3)\n\nOmit “Surcharge”, substitute “other Superannuation”.\n\n73  Section 327 (paragraph (b) of the definition of modifiable provision)\n\nOmit “, 22”.\n\n74  At the end of section 381\n\nAdd:\n\nNote:  Part 22 was repealed by the Superannuation (Unclaimed Money and Lost Members) Consequential and Transitional Act 1999.\n\nTaxation Administration Act 1953\n\n75  Paragraph 8WA(1)(b)\n\nAfter “(i)”, insert “, (ia)”.\n\n76  Paragraphs 8WB(1)(d) and (e)\n\nAfter “(i)”, insert “, (ia)”.\n\n\n\n\n###### Schedule 2—Amendments relating to the enactment of the Public Service Act 1999\n\n \n\nSuperannuation (Unclaimed Money and Lost Members) Act 1999\n\n1  Paragraph 31(1)(b)\n\nRepeal the paragraph, substitute:\n\n (b) a person engaged under the Public Service Act 1999 in the Agency (within the meaning of that Act) of which the Commissioner is the Agency Head; or\n\n2  Section 45\n\nOmit “an officer or employee within the meaning of the Public Service Act 1922”, substitute “engaged under the Public Service Act 1999”.\n\n\n\n\n###### Schedule 3—Other amendments\n\nPart 1—Amendments commencing at the same time as the Retirement Savings Accounts (Consequential Amendments) Act 1997\n\nIncome Tax Assessment Act 1936\n\n1  Paragraph 202(k) (second occurring)\n\nReletter as paragraph (ka).\n\nTaxation Administration Act 1953\n\n2  Paragraph 8WA(1)(b)\n\nOmit “or (j)”, substitute “, (j) or (ka)”.\n\n3  Paragraphs 8WB(1)(d) and (e)\n\nOmit “or (k)”, substitute “, (k) or (ka)”.\n\n\n\n\nPart 2—Amendments commencing on Royal Assent\n\nIncome Tax Assessment Act 1936\n\n4  Paragraph 202(k)\n\nRepeal the paragraph.\n\nTaxation Administration Act 1953\n\n5  Paragraph 8WA(1)(a)\n\nOmit “or (k)”.\n\n6  Paragraphs 8WB(1)(d) and (e)\n\nOmit “, (k)”.\n\n \n\n \n\n \n\n(145/99)\n\n\n \n\n \n\n \n\n \n\n[Minister’s second reading speech made in—\n\nHouse of Representatives on 30 June 1999\n\nSenate on 23 August 1999]\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":5,"scope_assessment":{"changed":false,"description":"The legislation remains tightly focused on its original purpose: dealing with consequential and transitional matters arising from the enactment of the Superannuation (Unclaimed Money and Lost Members) Act 1999. While it touches many other Acts, it does so only to the extent necessary to implement the new unclaimed money regime. There is no significant scope creep beyond the technical amendments required to support the primary Act."},"complexity_factors":["Extensive cross-referencing between multiple Acts (RSA Act, SIS Act, ITAA 1936, TAA 1953, etc.)","Transitional provisions with conditional time limits (2-year transition period in section 5)","Staggered commencement provisions linking to other legislation (section 2 has 6 subsections dealing with different commencement triggers)","Multiple defined terms imported by reference from the 'New Act' (Superannuation (Unclaimed Money and Lost Members) Act 1999)","Schedule-based amendment structure requiring readers to cross-reference changes across multiple target Acts","Retrospective application provisions (Schedule 3 items 1-3 deemed to have commenced earlier)","Nested conditions in section 5 requiring satisfaction of multiple criteria for transitional arrangements to apply"],"plain_english_summary":"This Act is a 'clean-up' law that makes necessary changes to other legislation following the creation of a new law about unclaimed superannuation money and lost super members.\n\n**What it does:**\n- **Updates other laws** to remove old rules about unclaimed super money and lost members from the Retirement Savings Accounts Act 1997 and the Superannuation Industry (Supervision) Act 1993, and replaces references to them with references to the new Superannuation (Unclaimed Money and Lost Members) Act 1999.\n- **Handles the transition** by ensuring that any unclaimed money already paid to the Tax Commissioner or State/Territory authorities under the old rules is treated as properly paid under the new law.\n- **Provides a grace period** (2 years) for States and Territories that had their own unclaimed money laws—allowing super funds to keep using those old State/Territory systems temporarily instead of immediately switching to the new federal system.\n- **Fixes tax rules** to ensure that periods when money sits with the Tax Commissioner as unclaimed super don't count as 'service periods' for tax purposes.\n- **Updates machinery provisions** like changing references from the old 'Insurance and Superannuation Commissioner' to the 'Commissioner of Taxation', and updating Public Service Act references.\n\n**Who it affects:**\n- Superannuation funds and retirement savings account providers (who must follow the new payment and reporting rules).\n- State and Territory governments (who may continue receiving unclaimed money temporarily if they have compatible laws).\n- Individuals with lost or unclaimed super (though indirectly—the Act ensures their money is properly tracked and transferred).\n\n**Why it matters:**\nWithout this Act, the new unclaimed money law would create gaps and overlaps with existing legislation. This Act ensures a smooth switchover so that money doesn't fall through cracks during the transition, and ensures all the related tax and regulatory laws point to the right places."},"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":false,"description":"The Act does not materially change the project’s original purpose. Its scope remains limited to consequential amendments and transitional arrangements required to implement the Superannuation (Unclaimed Money and Lost Members) Act 1999. It relocates and consolidates existing unclaimed-money and lost-member rules (repealing prior Parts in the RSA and SIS Acts), updates cross-references in tax and superannuation laws, and provides time-limited transitional relief (notably the two‑year allowance in section 5). Those are implementation adjustments rather than an expansion of substantive policy scope."},"complexity_factors":["Multiple Schedules (1–3) with numerous individual amendment items affecting many Acts","High number of cross-references to other statutes (RSA Act, SIS Act, Income Tax Assessment Act, Taxation Administration Act, Public Service Act, etc.)","Repeals and relocations of whole Parts (e.g. repeal of Part 8 of RSA Act and Part 22 of SIS Act) requiring readjustment of existing statutory frameworks (Schedule 1 items 16, 49)","Transitional timing and conditional commencement rules (section 2(3)–(4) and section 5’s two-year transition period) and staged commencement of certain items (section 2(5)–(6))","Deeming clauses treating prior actions under older regimes as valid under the New Act (sections 6–7), which introduce temporal legal effects","Multiple textual substitutions across many provisions (e.g. replacing references to ‘Surcharge’ with ‘other Superannuation’ across numerous sections), increasing risk of inconsistency","Administrative reassignment (e.g. changing agency references from ASIC to Commissioner of Taxation) that requires operational implementation (Schedule 1 items 36–39)","Several non-application and savings provisions (section 8, section 9) that create exceptions for particular half‑years and prevent retrospective criminal liability"],"plain_english_summary":"**What this Act does (mechanically)\n\n- This Act is a consequential and transitional statute: it changes other laws and sets short-term rules needed so the new Superannuation (Unclaimed Money and Lost Members) Act 1999 (the “New Act”) can operate in practice. (See Part 1–3 and the Schedules.)\n\n- It amends a long list of federal Acts (Income Tax Assessment Act 1936, Superannuation Industry (Supervision) Act 1993, Retirement Savings Accounts Act 1997, Small Superannuation Accounts Act 1995, Taxation Administration Act 1953, and others) so those statutes refer to and work with the New Act rather than the older, now-replaced provisions. (See Schedule 1 and Schedule 3.)\n\n- It provides transitional rules about how trustees and superannuation providers must handle unclaimed superannuation money and “lost member” records during the changeover from the old rules to the New Act. In particular:\n  - If a State or Territory had an older law that required a provider to give unclaimed‑money particulars or pay unclaimed money to that State/Territory, the provider can keep doing that (instead of sending the particulars/payments to the Commonwealth Commissioner) for a limited transition period. (See section 5.)\n  - Money or particulars already provided to the Commissioner or a State/Territory under the old RSA or SIS rules are treated as if they were provided under the New Act (so providers and the Commissioner do not need to repeat the action). (See sections 6 and 7.)\n  - Certain Schedule 1 amendments are made not to apply to the half‑year in which the New Act receives Royal Assent. (See section 8.)\n\n- The Act removes or relocates the prior Parts in the SIS Act and RSA Act that dealt with unclaimed money/lost members (for example, it repeals Part 22 of the SIS Act and Part 8 of the RSA Act) and replaces references to those Parts with references to the New Act. (See Schedule 1 items 16, 49 and related items.)\n\n- It shifts some administrative responsibilities and record-keeping: for example, references that previously named the Australian Securities and Investments Commission (ASIC) for some small-account reporting functions are changed to the Commissioner of Taxation. (See Schedule 1 items 36–39.)\n\n- It updates tax-law cross-references so payments of unclaimed money and the provision of member particulars count for taxation and benefits‑related rules (so the tax system recognises payments made in accordance with the New Act). (See Schedule 1 items 3–11 and others.)\n\nOfficial stated purpose and how the Act achieves it\n\n- The Act’s stated purpose is to handle the knock‑on (consequential) and transitional consequences of putting the New Act into place. It achieves that by:\n  - amending existing federal statutes so they reference and defer to the New Act for unclaimed-money and lost‑member rules (Schedules 1–3);\n  - creating transitional windows and deeming provisions so existing actions under the old law count under the New Act (sections 5–7); and\n  - staging commencement of particular amendments so timing aligns with other related legislative changes (section 2).\n\nWho this affects and what they must do\n\n- Superannuation trustees and providers: must deliver member particulars and pay unclaimed money in the manner required by the New Act (or, in particular situations during the transition, to a State/Territory authority under the old statutory rules). (See sections 5–7.) This requires changes to reporting and payment processes.\n\n- The Commissioner of Taxation: receives unclaimed-money receipts and registers for lost members under the New Act and takes on record-keeping or processing roles previously performed by other agencies for certain items (see Schedule 1 items changing ASIC references to the Commissioner).\n\n- State and Territory authorities: may continue to receive particulars and unclaimed-money payments under certain transitional conditions for up to two years (section 5) and are explicitly recognised in various amendments (Schedule 1).\n\n- Employers/funds and their IT/compliance systems: will need to update processes and systems to comply with the New Act’s reporting/payment pathways and the amended cross-references in tax and superannuation legislation.\n\nWhy it matters (practical consequences, incentives and costs)\n\n- Administrative reallocation: The Act relocates regulatory and administrative duties (e.g. some small‑account processing and registers) to the Commissioner of Taxation and gives the Commissioner the statutory footing to accept unclaimed‑money payments and lost‑member particulars (Schedules 1 and 2). That creates a concentration of processing at the Commonwealth tax authority.\n\n- Compliance costs for providers: Trustees and funds must change reporting and payment flows, update record‑keeping and possibly adjust IT systems to send data to the Commissioner or to State/Territory authorities where permitted by transitional rules (see sections 5–7 and Schedule 1). These are up‑front and one‑off adjustment costs plus ongoing compliance costs.\n\n- Transitional relief reduces immediate disruption: The two‑year transition window in section 5 lets providers continue to use pre‑existing State/Territory payment pathways (where those laws previously applied) for a limited period, which lowers immediate conversion costs but creates a scheduled deadline for systems change.\n\n- Tax interaction and benefit timing: The Act ensures that amounts and particulars dealt with under the old RSA/SIS arrangements are treated as if done under the New Act for tax and service‑period calculations (see section 6 and Schedule 1 amendments such as item 4). That reduces legal uncertainty and avoids re‑litigation of tax/timing consequences for payments already made.\n\nImplementation risks and trade‑offs\n\n- Coordination risk across jurisdictions and agencies: State/Territory statutes, the Commissioner and trustees must coordinate data formats, payment mechanics and timing. Section 5’s conditional transition and the repeal of Parts in SIS/RSA mean operational work across many organisations.\n\n- Concentration of administrative control: moving more functions to the Commissioner centralises processing (see Schedule 1 items changing ASIC to Commissioner). Centralisation may deliver efficiencies but concentrates operational load and requires the Commissioner to scale systems and staff.\n\n- Compliance enforcement and clarity: many cross‑references and repeals (Schedules 1–3) change where obligations sit. Errors during the transition could temporarily produce double reporting or misdirected payments unless trustees and authorities carefully apply the transitional deeming rules in sections 6–7.\n\nKey provisions to note (by section)\n\n- Section 2: commencement timing and staged commencements where linked legislation starts later.\n- Section 4: interpretive rule that terms used here adopt the meanings in the New Act.\n- Section 5: transitional rule allowing providers to continue paying/providing particulars to State/Territory authorities under existing state laws for up to two years in specified circumstances.\n- Sections 6–7: deeming provisions treating past actions under RSA/SIS as done under the New Act.\n- Schedule 1: extensive amendments across tax and superannuation laws (repeals of old Parts, retitling, replacing references with the New Act, transferring responsibilities to the Commissioner in some instances).\n- Schedule 2: minor amendments to references following enactment of the Public Service Act 1999.\n\nBottom line (practical summary)\n\n- This Act does not create new unclaimed‑money policy; it reshapes legal and administrative paths so the New Act is the operative law for unclaimed superannuation money and lost‑member registers. It updates tax and superannuation statutes so existing payments/records are recognised under the New Act, gives trustees transitional options (mainly a two‑year window in specified cases), and shifts certain administrative duties (notably some small‑account reporting) to the Commissioner of Taxation. Those changes produce short‑term compliance and systems costs for trustees and require coordination across Commonwealth and State/Territory authorities (see sections 5–7 and Schedule 1)."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. 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