Document ID: chunk:federal_register_of_legislation:C2004C01276:clause:1_53na
Version: federal_register_of_legislation:C2004C01276
Segment Type: clause
Provision Reference: sch 1 cl 53NA
Character Range: 7558–8255

53NA  No liability of financial institution for certain payments to pensioner

 (1) This section applies if:
 (a) after the partner died, an amount (the partner's amount) of pension or social security pension to which the partner would have been entitled if the partner had not died is paid into an account with a financial institution; and
 (b) the institution pays to the pensioner, out of that account, an amount that is not more than the partner's amount.

 (2) The financial institution is not liable to any action, claim or demand in respect of the payment to the pensioner.

 (3) Subsection (2) has effect despite any other law.

Part 5—Amendments relating to the Veterans' Review Board