Document ID: chunk:federal_register_of_legislation:C2024C00866:section:123b
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 123B
Character Range: 1601036–1603418

123B  Distribution where deceased leaves valid will
 (1) This section applies where the Commission is satisfied that:
 (a) the deceased left a valid will; and
 (b) but for the applicable sections, the will would dispose of the deceased's right to the distributable amount (either expressly or as part of the residue of the deceased's estate).
 (2) Where this section applies and the Commission is satisfied that the will appointed an executor or executors, the Commission may, subject to subsection (6), approve payment of the whole or part of that amount to an executor of the will.
 (3) Where this section applies and the Commission is satisfied that:
 (a) no‑one is executor of the will; and
 (b) a person has applied for and obtained a grant of letters of administration with the will annexed;
the Commission may approve payment of the whole or part of that amount to the person to whom the grant was made.
 (4) Where this section applies and the Commission is satisfied that:
 (a) no‑one is executor of the will;
 (b) letters of administration with the will annexed have not been applied for or granted; and
 (c) distribution of the whole or part of the distributable amount in accordance with the statutory order referred to in section 123D would not be inconsistent with the terms of the will;
the Commission may, subject to subsection (6), approve payment of the whole or part of that amount in accordance with the statutory order.
 (5) Where this section applies and the Commission is satisfied that:
 (a) no‑one is executor of the will; and
 (b) the waiting period has elapsed without an application for letters of administration with the will annexed having been made;
the Commission may, subject to subsection (6), approve payment of the whole or part of that amount in accordance with the statutory order referred to in section 123D.
 (6) If probate of the will has not been obtained and letters of administration with the will annexed have not been granted, the Commission shall not approve a payment or payments under subsection (2), (4) or (5) in respect of the deceased if the amount of the payment, or the sum of the amounts of the payments made under those subsections, would exceed $20,000 or such higher amount as is prescribed for the purposes of this subsection.
Note: Sections 123 to 123E do not apply if Subdivision C of Division 12A of Part IIIB applies.