Payment into bank account etc
58F Payment into bank account etc
The Commission may direct that the whole or a part of the amount of a person’s pension is to be paid, at the intervals that the Commission specifies, to the credit of an account with:
a bank; or
if the person is physically outside Australia—a foreign corporation that takes money on deposit.
The account must be an account nominated and maintained by the person to whom the pension is payable.
The account may be an account that is maintained by a person to whom the pension is payable jointly or in common with another person.
If the person has not nominated an account for the purposes of subsection (2) the amount is not to be paid.
If:
an amount has not been paid because of subsection (3A); and
the person nominates an account for the purposes of subsection (2);
the amount is to be paid under subsection (1).
If the Commission gives a direction under subsection (1), the pension is to be payable in accordance with the direction.
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