Bankruptcy Act 1966
This section applies to a provision in the terms and conditions of an RSA to the extent to which the provision has the effect that:
(a) any part of the amount of money a bankrupt holds in an RSA is cancelled, forfeited, reduced or qualified; or
(b) the provider of the RSA is empowered to exercise a discretion relating to such an amount to the detriment of an RSA holder;
if the RSA holder:
(c) becomes a bankrupt; or
(d) commits an act of bankruptcy; or
(e) executes a personal insolvency agreement under this Act.
View history note
Hide history noteThe provision is void.
This section does not apply to a provision that facilitates compliance with:
(a) section 128B ; or
(b) section 128C ; or
(c) a notice under section 128E ; or
(d) an order under paragraph 128K(1)(b) ; or
(e) a notice under section 139ZQ ; or
(f) an order under subsection 139ZT(2) ; or
(g) an order under section 139ZU .
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