Commonwealth Consolidated Acts

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SOCIAL SECURITY ACT 1991 - SECT 1061ZZBE

Payments made during cooling off period

             (1)  In the cooling off period, the participating corporation must not make a payment to the person under the contract.

             (2)  If the corporation makes a payment to the person under the contract within the cooling off period, the payment is taken not to be a payment of financial supplement if the person repays to the corporation an amount equal to the payment within 7 days after the date of the payment.

             (3)  If the corporation makes a payment to the person under the contract after the cooling off period and the person has exercised the right to cancel the contract, the payment is taken not to be a payment of financial supplement if the person repays to the corporation an amount equal to the payment within 7 days after the date of the payment.



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