Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010 (82 of 2010)
Schedule 1 Amendment of the Banking Act 1959
Part 1 Amendments
30 At the end of section 16AF
(a) one person holds the protected account mentioned in subsection (1); and
(b) the person is the trustee of 2 or more trusts; and
(c) the net credit balance of the account consists of the trust funds of 2 or more of those trusts;
subsection (1) entitles the person to be paid, in connection with that account, the amount worked out under subsection (1).