Commonwealth Numbered Regulations Commonwealth Numbered Regulations(1) This section applies if the Commission has determined, under subsection 122(4) of the Act, that DFISA-like payment or an associated payment is to be paid into an account with a bank.
(2) The Commission may direct that the whole or a part of an instalment of DFISA-like payment, or the whole or part of an amount of associated payment, is to be paid, at such intervals as it directs, to the credit of an account nominated from time to time by an eligible person, and payment is to be made accordingly.
(3) An account nominated by an eligible person for the purposes of subsection (2) must be an account maintained by that person, either alone, or jointly or in common with another person, with a bank.
(4) If the eligible person has not nominated an account for the purposes of subsection (2) by the end of the period of 28 days (or such longer period determined by the Commission) starting on the day on which the Commission requested the person to do so, DFISA-like payment ceases to be payable to the person.
(5) If the eligible person nominates an account for the purposes of subsection (2) after the end of the 28 day or other period, subsection (4) ceases to apply to the person on the day the person does so.