Commonwealth Consolidated Acts Commonwealth Consolidated ActsScope
(1) This section applies in relation to a member of an eligible superannuation plan if the Official Receiver has reasonable grounds to believe that:
(a) a transaction is void against the trustee of a bankrupt's estate under section 128B or 128C; and
(b) either:
(i) the whole or a part of the member's superannuation interest is attributable to the transaction; or
(ii) the trustee of the bankrupt's estate has made an application for a section 139ZU order that relates to the transaction and the member's superannuation interest.
Giving of freezing notice
(2) The Official Receiver may, by written notice (a superannuation account - freezing notice ) given to the trustee of the eligible superannuation plan, direct the trustee of the plan not to:
(a) cash or debit; or
(b) permit the cashing, debiting, roll - over, transfer or forfeiture of;
the whole or any part of the superannuation interest except:
(c) for the purposes of complying with a notice under section 139ZQ; or
(d) for the purposes of complying with an order under section 139ZU; or
(e) for the purposes of charging costs against, or debiting costs from, the superannuation interest; or
(f) for the purposes of giving effect to a family law payment split; or
(g) in accordance with the written consent of the Official Receiver given under section 128H; or
(h) for the purposes of complying with an order under paragraph 128K(1)(b); or
(i) for the purposes of complying with an order under subsection 139ZT(2); or
(j) in such circumstances (if any) as are specified in the regulations.
(3) The superannuation account - freezing notice must set out the facts and circumstances because of which the Official Receiver considers that the Official Receiver has reasonable grounds to believe that:
(a) the transaction is void against the trustee of the bankrupt's estate under section 128B or 128C; and
(b) either:
(i) the whole or a part of the member's superannuation interest is attributable to the transaction; or
(ii) the trustee of the bankrupt's estate has made an application for a section 139ZU order that relates to the transaction and the member's superannuation interest.
When Official Receiver may give freezing notice
(4) The Official Receiver may give the superannuation account - freezing notice:
(a) if the Official Trustee is the trustee of the bankrupt's estate--on the initiative of the Official Receiver; or
(b) if a registered trustee is the trustee of the bankrupt's estate--on application by the registered trustee.
When freezing notice comes into force
(5) The superannuation account - freezing notice comes into force when the notice is given to the trustee of the eligible superannuation plan.