Document ID: chunk:federal_register_of_legislation:C2024C00458:section:123wk
Version: federal_register_of_legislation:C2024C00458
Segment Type: section
Provision Reference: s 123WK
Character Range: 618166–618980

123WK  Payment into bank account etc. of credit balances of income management accounts—person ceases to be subject to the income management regime

Scope
 (1) This section applies to an amount that is to be paid to a person as:
 (a) an instalment under subsection 123WJ(4); or
 (b) a lump sum under subsection 123WJ(7).

Payment into bank account etc.
 (2) The amount is to be paid to the credit of a bank account kept by the person.
 (3) The bank account may be kept by the person either alone or jointly or in common with another person.
 (4) The Secretary may direct that the whole or a part of the amount be paid to the person in a different way from that provided for by subsection (2).
 (5) If the Secretary gives a direction under subsection (4), the amount is to be paid in accordance with the direction.