Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The provider of an FHSA must not allow an amount to be contributed to the FHSA at a time if:
(a) either:
(i) the FHSA holder is in breach of the account balance cap at the time the amount is to be paid; or
(ii) the FHSA holder would be in breach of the account balance cap at that time if the amount were paid; and
(b) the contribution would not be:
(i) a Government FHSA contribution; or
(ii) a contribution mentioned in paragraph 11(3)(a) (transfer to the FHSA from another FHSA held by the FHSA holder); or
(iii) a contribution mentioned in paragraph 11(3)(c) (recontribution of FHSA home acquisition payment after failure to occupy a dwelling); or
(iv) a contribution mentioned in subparagraph 51C(2)(b)(i) (recontribution of unclaimed money).
Note: This subsection does not prevent the FHSA provider from allowing part of a sum paid to it to be contributed to the FHSA.
(2) The FHSA provider (the first provider ) does not contravene subsection (1) if:
(a) in the case of a transfer made by another FHSA provider (the second provider ) in the circumstances mentioned in subparagraph 31(1)(c)(ii) (transfer because of a family law obligation)--the first provider repays the amount from the FHSA to the second provider within 30 days after receiving it; or
(b) in any other case--the first provider repays the amount from the FHSA to the FHSA holder within 30 days after receiving it.
Offence
(3) A person commits an offence if the person contravenes subsection (1).
Penalty: 100 penalty units.
Validity of transaction not affected by contravention
(4) A contravention of subsection (1) does not affect the validity of a transaction.
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