Commonwealth Consolidated Regulations

[Index] [Table] [Search] [Search this Regulation] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


Dealing with interest

                   For paragraph 1020G(1)(c) of the Act, Part 7.9 of the Act applies as if section 1017E of the Act were modified by adding after subsection 1017E(2C):

                 '(2D)  In relation to money to which this section applies:

                             (a)  the product provider is entitled to the interest on the account; and

                             (b)  the interest on the account is not required to be paid into the account;

                            only if the product provider discloses to the person who paid the money that the product provider is keeping the interest (if any) earned on the account.'.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback