10Statement of unclaimed superannuation benefits

10 Statement of unclaimed superannuation benefits

(1)  The Board must give to the Treasurer a statement, in a form approved by the Treasurer, of all unclaimed superannuation benefits in the Fund as at the end of each half-year.

(2)  The Board must give the Treasurer the statement –

(a) in relation to a half-year ending on 31 December, on or before the following 30 April; and

(b) in relation to a half-year ending on 30 June, on or before the following 31 October.

(3)  The Treasurer, at any time, may approve a date later than that specified in subsection (2)(a) or (b) by giving notice in writing of that approval to the Board.

(4)  If, after the end of the half-year, and before the Board gives the statement to the Treasurer, the Board pays any unclaimed superannuation benefit to a person who is entitled to it, the statement must contain any particulars about the payment as may be required in the form approved under subsection (1) .

(5)  An approval by the Treasurer of a form of statement for the purposes of subsection (1) may require that the statement contain the tax file number of –

(a) any beneficiary of the relevant fund, if –

(i) the statement relates to the beneficiary; and

(ii) the beneficiary has quoted his or her tax file number to the trustee for the purposes of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth; and

(b) the Fund.

(6)  The Board must not contravene a provision of this section.

Penalty:  Fine not exceeding 50 penalty units and, in the case of a continuing offence, a further fine not exceeding 5 penalty units for each day during which the offence continues.