Commonwealth Consolidated Acts

SMALL SUPERANNUATION ACCOUNTS ACT 1995 - SECT 17

Nil balance

             (1)  An account may have a nil balance.

Examples

             (2)  The following are examples of cases where an account might have a nil balance:

                     (a)  no money has been credited to the account;

                     (b)  the balance of the account has been withdrawn under Part 7;

                     (c)  the balance of the account has been refunded to an employer or former employer under Part 8;

                     (d)  the balance of the account has been debited from the Special Account under Part 9 (which deals with inactive accounts).