Bankruptcy Act 1966
A provision of a trust deed is void to the extent that it has the effect of:
(a) cancelling, reducing or qualifying a beneficiary ' s interest under the trust; or
(b) allowing the trustee to exercise a discretion to the detriment of a beneficiary ' s interest;
if the beneficiary becomes a bankrupt, commits an act of bankruptcy or executes a personal insolvency agreement under this Act.
302B(2) [ Exception]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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