(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.