18Policy not to be assigned or charged

18 Policy not to be assigned or charged

18.1  A member must not, without the consent in writing of the Council, assign, either absolutely or as security, or charge his or her interest or any part of that interest in the policy.

18.2 If a member:

 (a) becomes bankrupt or, without the consent in writing of the Council, assigns or charges or attempts to assign or charge his or her interest or any part of that interest in the policy or does or suffers anything by which that interest in the policy, or any part of that interest, would or might, through his or her act or default or by operation or process of law, become vested in or payable to any other person; or

 (b) is in the opinion of the Council incapable of managing his or her own affairs,

the rights and interests of the member in the policy forthwith determine and the Council may surrender the policy, or continue the policy for the time being and surrender it later, or continue it until maturity or the prior death of the member.

18.3 Any moneys representing the member's rights and interests so determined which are received by the Council, whether upon surrender or at maturity of the policy or on the death of the member, must, at the option of the Council, be:

 (a) applied towards the maintenance or benefit of the member or his or her dependants or of such one or more of them as the Council, in its discretion, thinks fit; or

 (b) paid in any of the ways mentioned in section 20; or

 (c) paid into the Supplementary Superannuation Benefits Fund; or

 (d) paid into the 1966 Supplementary Superannuation Benefits Fund.