Superannuation Industry (Supervision) Act 1993

PART 30 - MISCELLANEOUS  

SECTION 349A  

349A   PAYMENT OUT OF A FUND IN ACCORDANCE WITH THE BANKRUPTCY ACT 1966  

If a member of an approved deposit fund or of a regulated superannuation fund becomes a bankrupt, within the meaning of subsection 5(1) of the Bankruptcy Act 1966 , nothing in this Act, the regulations or the prudential standards prevents a trustee of the fund from paying to the trustee in bankruptcy an amount out of the fund that is property divisible amongst the member's creditors, within the meaning of section 116 of the Bankruptcy Act 1966 .