Document ID: chunk:federal_register_of_legislation:C2007A00057:clause:1_20
Version: federal_register_of_legislation:C2007A00057
Segment Type: clause
Provision Reference: sch 1 cl 20
Character Range: 18420–19311

20  After subsection 128C(7)
Insert:

Refund of contributions tax etc.

 (7A) If:
 (a) as a result of subsection (1), a transfer made by way of a contribution to an eligible superannuation plan is void against the trustee in the beneficiary's bankruptcy; and
 (b) any of the following amounts was debited from the contribution:
 (i) an amount in respect of tax in respect of the contribution;
 (ii) a fee, or a charge, in respect of the contribution; and
 (c) in compliance with a section 139ZQ notice that relates to the transfer, the trustee of the eligible superannuation plan pays an amount to the trustee in the beneficiary's bankruptcy; and
 (d) the amount paid in compliance with the section 139ZQ notice exceeds the amount so debited;
the trustee in the beneficiary's bankruptcy must pay to the trustee of the eligible superannuation plan an amount equal to the amount so debited.