s 128A

Simplified outline

In force

The following is a simplified outline of this Subdivision:

• This Subdivision enables the recovery of superannuation contributions made to defeat the bankrupt’s creditors.

• There are 2 types of recoverable contributions:

(a)

contributions made by a person who later becomes a bankrupt (see section 128B);

(b)

contributions made by a third party for the benefit of a person who later becomes a bankrupt (see section 128C).

• Superannuation accounts may be frozen for up to 180 days pending the taking of recovery action under section 139ZQ or 139ZU.

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