s 56
In forceSimplified outline
Part 7Withdrawal of account balances
Division 1Simplified outline
56 Simplified outline
The 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.
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