Document ID: chunk:federal_register_of_legislation:C2025C00135:section:202
Version: federal_register_of_legislation:C2025C00135
Segment Type: section
Provision Reference: s 202
Character Range: 362324–363398

202  Effect of notice of trust etc.
 (1) A life company is not entitled to rely on section 200 or subsection 201(1) in relation to a matter in which the company has not acted in good faith.
 (2) A life company is not entitled to rely on section 200 or subsection 201(1) in relation to any trust, right, equity or interest of which the company has received express notice in writing.
 (2A) A life company is not taken, for the purposes of subsection (2), to have received express notice in writing of a trust, right, equity or interest merely because the transferee under an assignment is described in the memorandum of transfer as the trustee or trustees of a superannuation fund.
 (3) If a life company has received express notice in writing of a trust, right, equity or interest claimed in relation to money payable under a policy, the company may pay the money into the Court.
 (4) Payment of the money into the Court discharges the company from liability to any person in respect of the money.
 (5) The money is to be paid out in accordance with an order of the Court.