Document ID: chunk:federal_register_of_legislation:C2024C00866:section:5j:p7
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 5J (pt 7/8)
Character Range: 108216–111047

under a superannuation fund established before 20 September 1998—the income stream is provided under rules that meet the standards determined, by legislative instrument, by the Minister; and
 (c) in any case—the income stream is attributable to a defined benefit interest within the meaning of the Superannuation Industry (Supervision) Regulations 1994 (for this purpose, disregard subparagraph 1.03AA(1)(b)(ii) of those regulations).
 (1EA) An income stream is a military invalidity pension income stream if:
 (a) the income stream is:
 (i) invalidity pay within the meaning of the Defence Force Retirement and Death Benefits Act 1973; or
 (ii) an invalidity pension under the superannuation scheme established under the Military Superannuation and Benefits Act 1991; or
 (iii) an income stream provided under a superannuation scheme and that is covered by an instrument under subsection (1FA); and
 (b) the income stream is not a defined benefit income stream.
 (1F) The Commission may determine, by legislative instrument, guidelines to be complied with when designating an income stream for the purposes of the definition of income stream in subsection (1).
 (1FA) For the purposes of subparagraph (1EA)(a)(iii), the Commission may, by legislative instrument, do any one or more of the following:
 (a) specify an income stream;
 (b) describe an income stream;
 (c) determine requirements relating to an income stream;
regardless of whether the income stream relates to military service or invalidity.
 (1FB) Without limiting subsection 33(3A) of the Acts Interpretation Act 1901, an instrument under subsection (1FA) may make different provision in relation to:
 (a) different kinds of income streams; and
 (b) different kinds of circumstances.
Note: For specification by class, see subsection 13(3) of the Legislation Act 2003.
 (1G) The Minister may, by legislative instrument, determine requirements for the purposes of paragraph (j) of the definition of financial investment in subsection (1).
 (2) The following rules apply for the purposes of this Act:
 (a) the acquisition by a person of debentures, bonds or other securities is treated as the making of a loan by the person;
 (b) a person is not treated as having made a loan merely because:
 (i) the person has an account with a financial institution; or
 (ii) the person has paid an entry contribution.
Note: For entry contribution see section 52M.
 (2A) Subsection (2) does not limit the meaning of the word loan in this Act.
 (2B) For the purposes of this Act, an asset is a deprived asset if:
 (a) a person has disposed of the asset; and
 (b) the value of the asset is included in the value of the person's assets by Subdivision BA or BB of Division 11 of Part IIIB.
Note: For circumstances in which a person is taken to dispose of assets see section 52E.
 (2C) To