Retirement Savings Accounts Act 1997
PART 16
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MISCELLANEOUS
SECTION 196
196
PAYMENT OUT OF AN RSA IN ACCORDANCE WITH THE
BANKRUPTCY ACT 1966
If a holder of an RSA becomes a bankrupt, within the meaning of subsection 5(1) of the Bankruptcy Act 1966 , nothing in this Act or the regulations prevents the RSA provider from paying to the trustee in bankruptcy an amount out of the RSA that is property divisible amongst the member's creditors, within the meaning of section 116 of the Bankruptcy Act 1966 .
If a holder of an RSA becomes a bankrupt, within the meaning of subsection 5(1) of the Bankruptcy Act 1966 , nothing in this Act or the regulations prevents the RSA provider from paying to the trustee in bankruptcy an amount out of the RSA that is property divisible amongst the member's creditors, within the meaning of section 116 of the Bankruptcy Act 1966 .
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