(1) Subject to this Act, no contribution to the Fund nor any benefits paid or payable out of the Fund, nor any rights of any insured person shall be assignable or transferable or liable to be attached, seized, sequestrated or levied upon for or in respect of any debt or claim whatsoever and any security or pledge or assignment given before or after the coming into force of this Act in respect of contributions paid by or benefits due to an insured person shall be void.
(2) The bankruptcy of an employee or employer shall not affect the deductions of contributions due under this Act.