Section 123WA — Social Security (Administration) Act 1999: Income management accounts

Income management accounts to be kept (1) Separate notional accounts are to be kept within the Income Management Record in the names of particular persons. Person’s income management account (2) An account kept in the name of a person is to be known as the person’s income management account. Note: Section 123TC provides that income management account means a notional account kept in accordance with this section. Amounts not held on trust (3) An amount standing to the credit of a person’s income management account is not held on trust.