Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) a person has an account with a financial institution; and
(b) instalments of farm household support, exceptional circumstances relief payment or farm help income support (the relevant payment type ) payable to the person are being paid to the credit of the account; and
(c) a court order in the nature of a garnishee order comes into force in respect of the account;
the court order does not apply to the saved amount (if any) in the account.
(2) The saved amount is worked out as follows:
Method statement
Step 1. Work out the total amount payable to the person in respect of the relevant payment type that has been paid to the credit of the account during the 4 week period immediately before the court order came into force.
Step 2. Subtract from that amount the total amount withdrawn from the account during the same 4 week period: the result is the saved amount.
(3) This section applies to an account whether it is maintained by a person:
(a) alone; or
(b) jointly with another person; or
(c) in common with another person.
(4) In this section:
"financial institution" means a bank or other institution that receives money on deposit.