Document ID: chunk:federal_register_of_legislation:C2019A00005:clause:3_9
Version: federal_register_of_legislation:C2019A00005
Segment Type: clause
Provision Reference: sch 3 cl 9
Character Range: 70371–71137

9  After subsection 1121(4)
Insert:
 (5) If:
 (a) a person is or was participating in the pension loans scheme; and
 (b) either:
 (i) the person's real assets are subject to a charge under section 1138; or
 (ii) if the person is a member of a couple—the couple's real assets are subject to a charge under section 1138;
then the value of those real assets, for the purposes of calculating the value of the person's assets for the purposes of this Act (other than Division 1B of Part 3.10), is to be reduced by the amount of the debt owed by the person under section 1135 because of that participation.
Note: If there are other charges or encumbrances over any of those real assets, there may be a further reduction under subsection (1) in the value of those assets.