Commonwealth Consolidated Acts

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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 251

Rights of beneficiary to rolled - over benefits

  (1)   If a fund has paid in accordance with old Part   24 to an eligible transitional fund an amount equal to the benefits of a beneficiary in the first - mentioned fund:

  (a)   the beneficiary ceases to have any rights against the first - mentioned fund in respect of those benefits; but

  (b)   has the corresponding rights against the eligible transitional fund in respect of those benefits.

  (2)   For the purposes of this section, a mere contingent right to a death or disability benefit is taken not to be a right in respect of the first - mentioned benefits.

  (3)   Subsection   (2) is enacted for the avoidance of doubt.


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