South Australian Consolidated Acts

SUPERANNUATION ACT 1988 - SECT 32D

32D—Withheld amount

An amount withheld under section 32B or 32C—

            (a)         must be paid by the Treasurer into the Consolidated Account or a special deposit account established by the Treasurer for that purpose; and

            (b)         will be charged against the relevant contributor's contribution account (to the extent possible) as if the amount had been paid to the contributor; and

            (c)         will be credited with interest at a rate determined by the Treasurer; and

            (d)         may be paid to the contributor (or the contributor's spouse or legal representative)—

                  (i)         in accordance with section 32B or 32C; or

                  (ii)         at the direction of the Board if the Board—

                        (A)         has not, within 2 years of withholding the amount, received advice that a surcharge notice has been issued in respect of the contributor; or

                        (B)         considers, at any time, there is other good reason for doing so.