Document ID: chunk:federal_register_of_legislation:C2025C00167:section:302ab
Version: federal_register_of_legislation:C2025C00167
Segment Type: section
Provision Reference: s 302AB
Character Range: 845471–846419

302AB  Certain provisions in RSA's terms and conditions to be void
 (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 personal insolvency agreement under this Act.
 (2) The provision is void.
 (3) This section does not apply to a provision that facilitates compliance with:
 (a) section 128B; or
 (b) section 128C; or
 (c) a notice under section 128E; or
 (d) an order under paragraph 128K(1)(b); or
 (e) a notice under section 139ZQ; or
 (f) an order under subsection 139ZT(2); or
 (g) an order under section 139ZU.