sec.102Financial institution to make payments

### sec.102 Financial institution to make payments For each regular deposit into the enforcement debtor’s account while the fine collection notice for regular redirection is in force, the financial institution— within 2 days after the deposit, must deduct from the account the amount stated in the notice and pay it to SPER as stated in the notice; and may only charge the enforcement debtor an amount (an administration charge ), as an administrative cost of complying with the notice, of not more than the amount prescribed by regulation; and must give the enforcement debtor notice of the deduction and any administration charge. However, the financial institution must not deduct an amount from the account if— the deduction would cause the account to be overdrawn; or the deduction would cause the total balance of all the accounts the enforcement debtor holds with the financial institution to be less than the amount prescribed by regulation (the protected amount ). Also, in applying subsection (1) (a) to the last deduction, the financial institution must deduct the amount, not more than the amount stated in the notice for deduction for each regular deposit, that results in the total amount deducted by the financial institution being the total amount to be deducted under the notice. If the financial institution is prevented by subsection (2) from deducting from the account the full amount of the recoverable amount, it must deduct as much of the amount, if any, that it may deduct without contravening subsection (2) . If the recoverable amount is $950, the protected amount is $400 and the enforcement debtor’s account has a balance of $725, the financial institution must deduct $325 from the account. A deduction paid or kept by a financial institution under this section is a valid discharge of the financial institution’s liability to the enforcement debtor to the extent of the deduction. s 102 sub 2017 No. 13 s 46 (sec.102-ssec.1) For each regular deposit into the enforcement debtor’s account while the fine collection notice for regular redirection is in force, the financial institution— within 2 days after the deposit, must deduct from the account the amount stated in the notice and pay it to SPER as stated in the notice; and may only charge the enforcement debtor an amount (an administration charge ), as an administrative cost of complying with the notice, of not more than the amount prescribed by regulation; and must give the enforcement debtor notice of the deduction and any administration charge. (sec.102-ssec.2) However, the financial institution must not deduct an amount from the account if— the deduction would cause the account to be overdrawn; or the deduction would cause the total balance of all the accounts the enforcement debtor holds with the financial institution to be less than the amount prescribed by regulation (the protected amount ). (sec.102-ssec.3) Also, in applying subsection (1) (a) to the last deduction, the financial institution must deduct the amount, not more than the amount stated in the notice for deduction for each regular deposit, that results in the total amount deducted by the financial institution being the total amount to be deducted under the notice. (sec.102-ssec.4) If the financial institution is prevented by subsection (2) from deducting from the account the full amount of the recoverable amount, it must deduct as much of the amount, if any, that it may deduct without contravening subsection (2) . If the recoverable amount is $950, the protected amount is $400 and the enforcement debtor’s account has a balance of $725, the financial institution must deduct $325 from the account. (sec.102-ssec.5) A deduction paid or kept by a financial institution under this section is a valid discharge of the financial institution’s liability to the enforcement debtor to the extent of the deduction. - (a) within 2 days after the deposit, must deduct from the account the amount stated in the notice and pay it to SPER as stated in the notice; and - (b) may only charge the enforcement debtor an amount (an administration charge ), as an administrative cost of complying with the notice, of not more than the amount prescribed by regulation; and - (c) must give the enforcement debtor notice of the deduction and any administration charge. - (a) the deduction would cause the account to be overdrawn; or - (b) the deduction would cause the total balance of all the accounts the enforcement debtor holds with the financial institution to be less than the amount prescribed by regulation (the protected amount ).