Superannuation Industry (Supervision) Act 1993
View history note
Hide history noteIf a fund has paid in accordance with old Part 24 to an eligible transitional fund an amount equal to the benefits of a beneficiary in the first-mentioned fund:
(a) the beneficiary ceases to have any rights against the first-mentioned fund in respect of those benefits; but
(b) has the corresponding rights against the eligible transitional fund in respect of those benefits.
For the purposes of this section, a mere contingent right to a death or disability benefit is taken not to be a right in respect of the first-mentioned benefits.
Subsection (2) is enacted for the avoidance of doubt.
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