Small Superannuation Accounts Act 1995

PART 6 - CREDITING OF INTEREST  

Division 5 - Crediting of interest  

SECTION 49   ACCRUAL OF INTEREST ON FIRST $ 1,200 OF DAILY BALANCE  

49(1)   [ Daily accrual of interest ]  

Interest accrues to an account each day on the balance of the account as at the end of that day.

49(2)   [ Account balance exceeding $ 1,200 ]  

For the purposes of this Division, if an account balance actually exceeds $ 1,200, the account balance is taken to be $ 1,200.