Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In this section:
"bank" includes, but is not limited to, a body corporate that is an ADI (authorised deposit - taking institution) for the purposes of the Banking Act 1959 .
"primary pension" means a pension payable to a pensioner.
(2) Where:
(a) after the death of a retirement pensioner, an amount purporting to be an instalment of primary pension payable to the pensioner on a pension pay day not later than the 7th pension pay day after his or her death is paid into an account of the pensioner with a bank; and
(b) the bank pays, out of that account, to the spouse of the deceased pensioner an amount not exceeding the amount so paid into the account;
then, in spite of any other law, the bank is not liable to the Commonwealth, the personal representative of the deceased pensioner or anyone else for any loss incurred because of the payment of that amount to the spouse of the pensioner.