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SUPERANNUATION (UNCLAIMED MONEY AND LOST MEMBERS) ACT 1999

PART 2 - INTERPRETATION  

SECTION 8  

8  DEFINITIONS  

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In this Act, unless the contrary intention applies:

account , in a fund, has a meaning affected by subsection 24B(3).

accrue , in relation to a benefit for a member of a defined benefits superannuation scheme, has the meaning given by section 9.

ADI (authorised deposit-taking institution) means a body corporate that is an ADI for the purposes of the Banking Act 1959.

annuity has the same meaning as in the SIS Act.

approved deposit fund has the same meaning as in the SIS Act.

approved form has the meaning given by section 388-50 in Schedule 1 to the Taxation Administration Act 1953.

authorised officer means a person who has been authorised in writing by the Commissioner under section 45 for the purposes of the provision in which the expression occurs.

Commissioner means the Commissioner of Taxation.

Commonwealth public sector superannuation scheme means a scheme for the payment of superannuation, retirement or death benefits, where the scheme is established:


(a) by or under a law of the Commonwealth; or


(b) under the authority of:


(i) the Commonwealth; or

(ii) a municipal corporation, another local governing body or a public authority constituted by or under a law of the Commonwealth.

contribution includes a deposit into an account held at an ADI or a prescribed financial institution and a payment of a premium to a life insurance company.

court (Repealed by No 145 of 2010)

data processing device means any article or material (for example, a disk) from which information is capable of being reproduced with or without the aid of any other article or device.

defined benefit member means a member entitled, on retirement or termination of his or her employment, to be paid a benefit defined, wholly or in part, by reference to either or both of the following:


(a) the amount of:


(i) the member's salary at a particular date, being the date of the termination of the member's employment or of the member's retirement on an earlier date; or

(ii) the member's salary averaged over a period before retirement;


(b) a stated amount.

defined benefits superannuation scheme means:


(a) a public sector superannuation scheme that:


(i) is a regulated superannuation fund or an exempt public sector superannuation scheme; and

(ii) has at least one defined benefit member; or


(b) a regulated superannuation fund (other than a public sector superannuation scheme):


(i) that has at least one defined benefit member; and

(ii) some or all of the contributions to which are not allocated to any individual member but are paid into and accumulated in the fund in the form of an aggregate amount.

eligibility age has the meaning given by section 10.

eligible service period has the same meaning as in Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936.

engage in conduct means:


(a) do an act; or


(b) omit to perform an act.

exempt public sector superannuation scheme has the same meaning as in section 10 of the SIS Act.

financial sector supervisory agency has the same meaning as in section 3 of the Australian Prudential Regulation Authority Act 1998.

former temporary resident has the meaning given by section 20AA.

fund means:


(a) a regulated superannuation fund; or


(b) an approved deposit fund; or


(c) an RSA.

general interest charge means the charge worked out under Part IIA of the Taxation Administration Act 1953.

governing rules :


(a) in relation to a fund (other than an RSA), scheme or trust - means any trust instrument, other document or legislation, or combination of them, governing the establishment and operation of the fund, scheme or trust; and


(b) in relation to a fund that is an RSA - means the terms and conditions of the RSA.

half-year means a period of 6 months ending on 30 June or 31 December.

holder has the same meaning as in the RSA Act.

leave Australia has the same meaning as in the Migration Act 1958.

legal personal representative of a person who has died means an executor or administrator of the person's estate.

life insurance company means:


(a) a body corporate registered under section 21 of the Life Insurance Act 1995; or


(b) a public authority:


(i) that is constituted by a law of a State or Territory; and

(ii) that carries on life insurance business within the meaning of section 11 of that Act.

lost member has the meaning given by section 22.

lost member account has the meaning given by section 24B.

member means:


(a) a member of a superannuation fund; or


(b) a depositor with an approved deposit fund; or


(c) a holder of an RSA.

non-member spouse has the same meaning as in Part VIIIB of the Family Law Act 1975.

payment split means a payment split under Part VIIIB of the Family Law Act 1975.

pension has the same meaning as in the SIS Act.

premises includes:


(a) a structure, building, aircraft, vehicle or vessel; and


(b) any land or place (whether enclosed or built on or not); and


(c) a part of a structure, building, aircraft, vehicle or vessel or of such a place.

premium means a premium in respect of a policy (within the meaning of the Life Insurance Act 1995) and includes an instalment of premium.

prescribed financial institution means a body prescribed by the regulations for the purposes of this definition.

produce includes permit access to.

protected document (Repealed by No 145 of 2010)

protected information (Repealed by No 145 of 2010)

public sector superannuation scheme has the same meaning as in the SIS Act.

regulated exempt public sector superannuation scheme has the same meaning as in Part 25A of the SIS Act.

regulated superannuation fund has the same meaning as in the SIS Act.

RSA has the same meaning as in the RSA Act.

RSA Act means the Retirement Savings Accounts Act 1997.

RSA provider has the same meaning as in the RSA Act.

scheduled statement day has the meaning given by:


(a) in relation to a statement required by Part 3 or 4A - section 15A; and


(b) in relation to a statement required by Part 3A - section 20B.

SIS Act means the Superannuation Industry (Supervision) Act 1993.

splittable payment has the same meaning as in Part VIIIB of the Family Law Act 1975.

State or Territory authority means a State, a Territory, an authority of a State or an authority of a Territory.

State or Territory public sector superannuation scheme has the meaning given by subsection 18(7).

Superannuation Complaints Tribunal means the Superannuation Complaints Tribunal established by the Superannuation (Resolution of Complaints) Act 1993.

superannuation fund has the same meaning as in the SIS Act.

superannuation interest means:


(a) an interest in a superannuation fund; or


(b) an interest in an approved deposit fund; or


(c) an RSA.

superannuation provider means:


(a) the trustee of a regulated superannuation fund; or


(b) the trustee of an approved deposit fund; or


(c) an RSA provider.

tax file number has the meaning given by section 202A of the Income Tax Assessment Act 1936.

trustee has the same meaning as in the SIS Act.

unclaimed money has the meaning given by sections 12 and 14.

unclaimed money day has the meaning given by section 15A.

unfunded public sector scheme has the meaning given by the Superannuation Guarantee (Administration) Act 1992.


 


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