FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)

PART 3 - ELIGIBILITY, CONTRIBUTION AND PAYMENT RULES  

Division 1 - Eligibility rules  

SECTION 24   Default superannuation plan  

24(1)    
An entity that provides an FHSA or offers to provide an FHSA at a time must have nominated in writing, before that time, a complying superannuation plan to be its default superannuation plan for the purposes of paragraph 22(3)(b) .

Offence

24(2)    
A person commits an offence if the person contravenes subsection (1).

Penalty: 100 penalty units.