Document ID: chunk:federal_register_of_legislation:C2024A00108:clause:1_62
Version: federal_register_of_legislation:C2024A00108
Segment Type: clause
Provision Reference: sch 1 cl 62
Character Range: 24012–25137

62  Application of amendments of the Social Security Act 1991
(1) The amendments of the Social Security Act 1991 made by Part 3 of this Schedule apply for the purposes of working out:
 (a) a person's FS debt and a person's accumulated FS debt for the financial year ending on 30 June 2023 and each subsequent financial year; and
 (b) the amount outstanding under a person's FS contract for the financial year ending on 30 June 2023 and each subsequent financial year; and
 (c) a person's accumulated SSL debt and a person's former accumulated SSL debt for the financial year ending on 30 June 2023 and each subsequent financial year.
(2) For the purposes of applying subitem (1) to the financial years ending on 30 June 2023 and 30 June 2024:
 (a) a person's FS debt and a person's accumulated FS debt are to be recalculated; and
 (b) the amount outstanding under a person's FS contract is to be recalculated; and
 (c) a person's accumulated SSL debt and a person's former accumulated SSL debt are to be recalculated.
(3) The transitional rules under Schedule 6 may specify how a recalculation under subitem (2) is to occur.