Commonwealth Numbered Acts

SOCIAL SECURITY AND VETERANS' AFFAIRS LEGISLATION AMENDMENT ACT (No. 4) 1989 No. 164, 1989 - SECT 26

26. Section 7 of the Principal Act is amended:

   (a)  by omitting from paragraph (1) (a) "48 (3) (b)" and substituting "51
        (1) (b)";

   (b)  by omitting paragraph (3) (b) and substituting the following
        paragraph:

"(b) there shall be deducted from the maximum annual rate an amount per annum
equal to the sum of:

        (i)    the annual rate of income of the person (other than income from
               property of the person or of the person's spouse that is not
               property referred to in paragraph (1) (c) or property to which
               paragraph 4 (1) (a) applies); and

        (ii)   an amount per annum equal to $26 for each $250 of the value of
               the property of the person (other than property referred to in
               paragraph (1) (c) or property to which paragraph 4 (1) (a)
               applies).";

   (c)  by omitting from paragraph (3A) (b) "weekly rate of the benefit that
        would be payable to the person apart from the operation of section
        122" and substituting "maximum weekly rate";
(d) by inserting in paragraph (6) (a) "annual" after "maximum";

   (e)  by omitting from paragraph (6) (b) "applicable rate" and substituting
        "maximum weekly rate";

   (f)  by adding at the end the following subsection:

"(8) In this section:
'maximum annual rate', in relation to a person (other than a person who is
qualified to receive a benefit under Part XIII), means the maximum annual rate
of pension, benefit or allowance that would be payable to the person apart
from:

   (a)  the operation of subsection 33 (7) or (12); or

   (b)  any reduction of the person's rate by reference to the amount 'IA' in
        subsection 48 (2);
'maximum weekly rate', in relation to a person who is qualified to receive a
benefit under Part XIII, means the maximum weekly rate of benefit that would
be payable to the person apart from the operation of section 122.".
Commencement: 1 March 1989