Bankruptcy Act 1966

PART XVI - MISCELLANEOUS  

SECTION 302AB   CERTAIN PROVISIONS IN RSA ' S TERMS AND CONDITIONS TO BE VOID  

302AB(1)   [Application]  

This section applies to a provision in the terms and conditions of an RSA to the extent to which the provision has the effect that:


(a) any part of the amount of money a bankrupt holds in an RSA is cancelled, forfeited, reduced or qualified; or


(b) the provider of the RSA is empowered to exercise a discretion relating to such an amount to the detriment of an RSA holder;

if the RSA holder:


(c) becomes a bankrupt; or


(d) commits an act of bankruptcy; or


(e) executes a personal insolvency agreement under this Act.

302AB(2)   [Effect]  

The provision is void.

302AB(3)   [ Exception]  

This section does not apply to a provision that facilitates compliance with:


(a) section 128B ; or


(b) section 128C ; or


(c) a notice under section 128E ; or


(d) an order under paragraph 128K(1)(b) ; or


(e) a notice under section 139ZQ ; or


(f) an order under subsection 139ZT(2) ; or


(g) an order under section 139ZU .


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.