FIRST HOME SAVER ACCOUNTS ACT 2008 [ REPEALED]

PART 2 - KEY CONCEPTS AND OTHER DEFINITIONS  

Division 1 - Key concepts  

SECTION 8   8   Meaning of FHSA  
An individual ' s account, life policy or beneficial interest in a trust is an FHSA (short for first home saver account) if:


(a) it is described as an FHSA; and


(b) it is opened or issued on or after 1 October 2008 (or a later day (if any) specified in the regulations); and


(c) it is:


(i) an account to which an ADI accepts, or has accepted, contributions; or

(ii) a life policy issued by a life insurance company; or

(iii) a beneficial interest in a trust constituted by a deed, the trustee of which holds an authorisation as an FHSA provider.



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