FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)
PART 8
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MISCELLANEOUS
SECTION 128
128
Payment out of a fund in accordance with the
Bankruptcy Act 1966
If a holder of an FHSA becomes a bankrupt, within the meaning of subsection 5(1) of the Bankruptcy Act 1966 , nothing in this Act or the regulations prevents the FHSA provider from paying to the trustee in bankruptcy an amount out of the FHSA that is property divisible amongst the FHSA holder ' s creditors, within the meaning of section 116 of the Bankruptcy Act 1966 .
If a holder of an FHSA becomes a bankrupt, within the meaning of subsection 5(1) of the Bankruptcy Act 1966 , nothing in this Act or the regulations prevents the FHSA provider from paying to the trustee in bankruptcy an amount out of the FHSA that is property divisible amongst the FHSA holder ' s creditors, within the meaning of section 116 of the Bankruptcy Act 1966 .
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