Commonwealth Consolidated Acts Commonwealth Consolidated ActsThe following is a simplified outline of this Part:
• There are 3 types of withdrawals of account balances:
(a) transfers of account balances to superannuation funds or RSAs;
(b) direct withdrawals of account balances by individuals;
(c) withdrawals of account balances after death.
• Under Part 8, a depositor has 14 days to apply for a refund of a deposit on the grounds that the deposit was made by mistake. During the 14 - day period, the individual's account will be frozen.