Commonwealth Numbered Acts

SOCIAL SECURITY ACT 1991 No. 46, 1991 - SECT 120

120. (1) If:

   (a)  a person has an account with a financial institution; and

   (b)  instalments of invalid pension payable to the person (whether on the
        person's own behalf or not) are being paid to the credit of that
        account; and

   (c)  a court order in the nature of a garnishee order comes into force in
        respect of the account; the court order does not apply to the saved
        amount (if any) in the account.

(2) The saved amount is worked out as follows:
Method statement Step 1. Work out the total amount of invalid pension payable
to the person that has been paid to the credit of the account during the 4
week period immediately before the court order came into force. Step 2.
Subtract from that amount the total amount withdrawn from the account during
the same 4 week period: the result is the saved amount.

(3) This section applies to an account whether it is maintained by a person:

   (a)  alone; or

   (b)  jointly with another person; or

   (c)  in common with another person.