"RSA holder" has the same meaning as in the Retirement Savings Accounts Act 1997 .

Add:

(v)

the amount of money a bankrupt holds in an RSA;

(vi)

a payment to a bankrupt from an RSA received on or after the date of the bankruptcy, if the payment is not a pension or annuity within the meaning of the Retirement Savings Accounts Act 1997 .

Insert:

(8A)

The regulations may provide for the provider of an RSA to issue a written evidentiary certificate about the amount of money a bankrupt holds in an RSA. The regulations may provide that, in proceedings under this Act, the certificate is prima facie evidence of the amount of money a bankrupt holds in an RSA for the purposes of subsection (5).

Insert:

(ia)

an annuity or pension paid to the bankrupt from an RSA;

Insert:

or (BA) a payment from an RSA;

Insert:

or (BA) a payment from an RSA;

Insert:

or (BA) a payment from an RSA;

Insert:

(1)

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 deed of assignment or a deed of arrangement under this Act.

(2)

The provision is void.