Pension or supplement may be paid to bank etc
122A Pension or supplement may be paid to bank etc
The Commission may direct that the whole or a part of the amount of a pension is to be paid, at such intervals as it directs, to the credit of an account nominated from time to time by the pensioner, being an account maintained by the pensioner, either alone or jointly or in common with another person, with:
a bank; or
if the pensioner is physically outside Australia—a foreign corporation that takes money on deposit.
If the Commission gives a direction under subsection (1), the pension is payable in accordance with the direction.
If the payment is of an amount of pension that is not energy supplement under Part VIIAD and the person has not nominated an account for the purposes of subsection (1), the amount is not to be paid.
If:
an amount has not been paid because of subsection (1A); and
the person nominates an account for the purposes of subsection (1);
the amount is to be paid under subsection (1AA).
If the payment is of an amount of energy supplement under Part VIIAD and the person has not nominated an account for the purposes of subsection (1) by the end of the period of 28 days (or such longer period determined by the Commission) starting on the day on which the Commission requested the person to do so, the supplement ceases to be payable to the person.
However, if the person referred to in subsection (1C) nominates an account for the purposes of subsection (1) after the end of the 28 day or other period, then subsection (1C) ceases to apply to the person on the day the person does so.
If:
there is no nomination of an account by the person in force for the purposes of subsection (1); and
there is a nomination of an account (the existing account) by the person in force for the purposes of section 430 of the Military Rehabilitation and Compensation Act 2004;
the existing account is taken to be an account nominated by the person for the purposes of subsection (1) of this section.
Subsection (1E) ceases to apply in relation to the person if, in accordance with subsection (1), the person nominates an account for the purposes of subsection (1).
In this section:
pension means a pension, allowance or other pecuniary benefit payable under this Act, and includes an instalment of such a pension, allowance or other benefit.
pensioner means a person to whom a pension is payable, whether on his or her own behalf or on behalf of another person.
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