First Home Saver Accounts (Further Provisions) Amendment Act 2008 (92 of 2008)

Schedule 2   Amendments commencing the day after Royal Assent

First Home Saver Accounts Act 2008

20   Subsection 27(2)

Repeal the subsection, substitute:

(2) The FHSA provider (the first provider ) does not contravene subsection (1) if:

(a) in the case of a transfer made by another FHSA provider (the second provider ) in the circumstances mentioned in subparagraph 31(1)(c)(ii) (transfer because of a family law obligation) - the first provider repays the amount from the FHSA to the second provider within 30 days after receiving it; or

(b) in any other case - the first provider repays the amount from the FHSA to the FHSA holder within 30 days after receiving it.