Commonwealth Consolidated Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 147

    If the benefits of members and beneficiaries in a transferor fund are transferred to a transferee fund under this Part:

  (a)   the members and beneficiaries cease to have rights against the transferor fund; and

  (b)   if:

  (i)   immediately before the transfer occurred, another person had a contingent right against the transferor fund to a death or disability benefit; and

  (ii)   the contingent right was derived from a member's or beneficiary's capacity as a member or beneficiary of the transferor fund;

    the other person ceases to have the contingent right against the transferor fund.

To avoid doubt, a reference in paragraph   (a) to a right against the transferor fund includes a reference to a contingent right to a death or disability benefit.