38
In forceAccumulated AASL debt discharged by death
Chapter 3Loan repayments
Part 3.1Incurring debts
Division 3Accumulated AASL debts
38 Accumulated AASL debt discharged by death
(1)
Upon the death of a person who has an accumulated AASL debt, the accumulated AASL debt is taken to be discharged.
(2)
To avoid doubt, this section does not affect any compulsory AASL repayment amounts required to be paid in respect of the accumulated AASL debt, whether or not those amounts were assessed before the person’s death.
Note:
Accumulated AASL debts are not provable in bankruptcy: see subsection 82(3AB) of the Bankruptcy Act 1966.
This Act’s bill:Explanatory memorandumSecond reading speech
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