Commonwealth Numbered Acts

FIRST HOME SAVER ACCOUNTS ACT 2008 (NO. 44, 2008) - SECT 26

             (1)  The provider of an FHSA must not allow an amount to be contributed to the FHSA if it is inactive.

             (2)  The FHSA provider does not contravene subsection (1) if the provider repays the amount from the FHSA to the FHSA holder within 30 days after receiving it.

Offence

             (3)  A person commits an offence if the person contravenes subsection (1).

Penalty:  100 penalty units.

Validity of transaction not affected by contravention

             (4)  A contravention of subsection (1) does not affect the validity of a transaction.