Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf the benefits of members and beneficiaries in a transferor fund are transferred to a transferee fund under this Part:
(a) the members and beneficiaries cease to have rights against the transferor fund; and
(b) if:
(i) immediately before the transfer occurred, another person had a contingent right against the transferor fund to a death or disability benefit; and
(ii) the contingent right was derived from a member's or beneficiary's capacity as a member or beneficiary of the transferor fund;
the other person ceases to have the contingent right against the transferor fund.
To avoid doubt, a reference in paragraph (a) to a right against the transferor fund includes a reference to a contingent right to a death or disability benefit.