The Superannuation Industry (Supervision) Amendment Regulation 2012 (No 4) was registered on the Federal Register of Legislative Instruments Mon 10.12.2012.
It amends the SIS regs to introduce a 12-month inactivity test for uncontactable (and therefore “lost”) members of a super fund. This is designed to clarify the amendments to the unclaimed monies legislation, ensuring that accounts of uncontactable members, which have been active in a 12-month period, are not unnecessarily transferred to the ATO. The regulation commences Tue 11.12.2012.
[LTN 240, 11/12]