SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 349A Payment out of a fund in accordance with the Bankruptcy Act 1966
SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 349A
Payment out of a fund in accordance with the Bankruptcy Act 1966 If a member of an approved deposit fund or of a
regulated superannuation fund becomes a bankrupt, within the meaning of
subsection 5(1) of the Bankruptcy Act 1966 , nothing in this Act, the
regulations or the prudential standards prevents a trustee of the fund from
paying to the trustee in bankruptcy an amount out of the fund that is property
divisible amongst the member's creditors, within the meaning of section
116 of the Bankruptcy Act 1966 .