Document ID: chunk:federal_register_of_legislation:C2025C00167:section:302b
Version: federal_register_of_legislation:C2025C00167
Segment Type: section
Provision Reference: s 302B
Character Range: 846419–847182

302B  Certain provisions in trust deeds void
 (1) A provision of a trust deed is void to the extent that it has the effect of:
 (a) cancelling, reducing or qualifying a beneficiary's interest under the trust; or
 (b) allowing the trustee to exercise a discretion to the detriment of a beneficiary's interest;
if the beneficiary becomes a bankrupt, commits an act of bankruptcy or executes a personal insolvency agreement under this Act.
 (2) 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.