Document ID: chunk:federal_register_of_legislation:C2006C00468:clause:8_14
Version: federal_register_of_legislation:C2006C00468
Segment Type: clause
Provision Reference: sch 8 cl 14
Character Range: 54171–55319

14  Application of amendments

(1) The amendments made by items 2, 3 and 4 apply to income streams purchased, or acquired, by or for the primary beneficiary or primary beneficiaries on or after 1 January 2006.

(2) The amendments made by items 5, 6 and 7 apply to income streams purchased, or acquired, by or for the primary beneficiary on or after 1 January 2006.

(3) The amendments made by items 1 and 11 to 13 apply in working out the annual rate of ordinary income of a person from an income stream on or after 1 January 2006, whether the income stream was purchased, or acquired, by or for the primary beneficiary before, at or after the commencement of this item.

(4) The amendments made by items 8, 9 and 10 apply in working out if obligations for the making of payments under an income stream satisfied the requirements of subsections 9BA(5) to (9) of the Social Security Act 1991 on or after 1 January 2006, whether the income stream was purchased, or acquired, by or for the primary beneficiary before, at or after the commencement of this item.

Part 2—Amendments commencing on the day after Royal Assent

Social Security Act 1991