Power of STC to purchase annuities etc out of benefit payable under this Act
43A Power of STC to purchase annuities etc out of benefit payable under this Act
Whenever a benefit becomes payable to or in respect of a contributor under this Act, STC must, if requested to do so—
by the contributor, or
where the contributor has died, by the spouse or de facto partner or personal representatives of the contributor, as the case requires,
apply the benefit, or such part of it as is specified by the contributor, spouse or de facto partner or personal representatives, in purchasing for the contributor or, as the case may be, for the spouse or de facto partner or the beneficiaries of the contributor’s estate, a right to an annuity or other form of pension from a person nominated by the contributor, spouse or de facto partner or personal representatives.
This Act’s bill:Explanatory memorandum
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.