Document ID: chunk:federal_register_of_legislation:C2004A03539:body:0:p9
Version: federal_register_of_legislation:C2004A03539
Segment Type: other
Provision Reference: 
Character Range: 21304–23850

before or after the commencement of this subsection, an accruing return investment, being an investment to which subsections (3) and (5) do not apply, the person shall, for the purposes of this Act, be taken to receive the rate of return on that investment as income of the person from the day on which that investment was made.
"(3) Where a person makes, on or after 1 January 1988, an accruing return investment:
    (a) with a friendly society; or
    (b) of a kind where a return is not available until the end of a period of at least 12 months after that investment was made or until realisation of that investment;
the person shall, for the purposes of this Act, be taken to receive the rate of return on that investment as income of the person from the day on which that investment was made.
"(4) Where a person becomes entitled, whether before or after the commencement of this subsection, to receive an amount of income, being an amount of a capital nature but not being:
    (a) income from remunerative work undertaken by the person; or
    (b) a return from an accruing return investment;
the person shall, for the purposes of this Act, be taken to receive one fifty-second of that amount as income of the person during each week in the period of 12 months commencing on the day on which the person becomes entitled to receive that amount.
"(5) Where a person makes, at any time before 1 January 1988, an accruing return investment:
    (a) with a friendly society; or
    (b) of a kind where a return is not available until the end of a period of at least 12 months after that investment was made or until realisation of that investment;
and the person becomes entitled to receive an amount by way of a return on that investment, the person shall, for the purposes of this Act, be taken to receive one fifty-second of that amount as income of the person during each week in the period of 12 months commencing on the day on which the person becomes entitled to receive that amount.
"(6) A reference in subsection (4) or (5) to a person becoming entitled to receive an amount includes a reference to the person becoming entitled to receive an amount under an arrangement of the kind referred to in the definition of 'accruing return investment' in subsection (1) to the extent that subsection (2) or (3) does not apply to that entitlement.".
Commencement: 13 December 1987

Pension loans scheme
9. Section 5 of the Principal Act is amended by omitting from paragraph (2) (b) ", 38 (4) (b)".
Commencement: 24 December 1987

Disposal of