Document ID: chunk:federal_register_of_legislation:C2025C00162:section:1141
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 1141
Character Range: 2259759–2260450

1141  Person ceases to participate in pension loans scheme if debt exceeds maximum loan available
  If:
 (a) a person is participating in the pension loans scheme; and
 (b) the debt owed by the person under section 1135 exceeds the maximum loan available to the person under the scheme;
the scheme ceases to operate in relation to the person at the beginning of the first instalment period for the pension being paid to the person that begins after the debt exceeds the maximum loan available.
Note 1: The maximum loan available is worked out by using the formula set out in subsection 1135A(1).
Note 2: For repayment or recovery of the debt owed by the person see sections 1139 and 1142A.