Document ID: chunk:federal_register_of_legislation:C2025C00135:section:204
Version: federal_register_of_legislation:C2025C00135
Segment Type: section
Provision Reference: s 204
Character Range: 367900–368513

204  Protection of interest of insured
 (1) The rights and interests of a person under:
 (a) a life policy effected on his or her life; or
 (b) a life policy effected on the life of the person's spouse or de facto partner;
are not liable to be applied or made available by any judgment, order or process of a court in discharge of a debt owed by the person.
 (2) Subsection (1) applies:
 (a) regardless of when a policy was issued; and
 (b) in the case of a policy referred to in paragraph (1)(a)—whether or not the policy is owned by the person.
 (3) This section has effect subject to the Bankruptcy Act 1966.