Document ID: chunk:federal_register_of_legislation:C2024C00866:section:52za:p1
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 52ZA (pt 1/2)
Character Range: 808023–810666

52ZA  Eligibility for participation in pension loans scheme

Person not member of a couple
 (1) A person who is not a member of a couple is eligible to participate in the pension loans scheme if:
 (a) the person is receiving or is eligible for a service pension or income support supplement; and
 (d) the person has reached:
 (i) if the person is receiving or is eligible for service pension—pension age; or
 (ii) if the person is receiving or is eligible for income support supplement—qualifying age; and
 (da) the person is not bankrupt; and
 (db) the person is not subject to a personal insolvency agreement under Part X of the Bankruptcy Act 1966; and
 (dc) the Commission is satisfied that there is adequate and appropriate insurance in relation to the person's real assets; and
 (e) either:
 (i) the Commission is satisfied that the value of the person's real assets (after deduction of any nominated amount) is sufficient to secure the payment of any debt that may become payable to the Commonwealth under this Subdivision; or
 (ii) subsection (3) applies to the person.
Note 2: For real assets see subsection 52ZAAA(1).
Note 3: For nominated amount, see subsection 52ZAAA(1).
Note 4: For pension age see section 5QA.
Note 5: For qualifying age see section 5Q.

Person member of a couple
 (2) A person who is a member of a couple is eligible to participate in the pension loans scheme if:
 (a) the person is receiving or is eligible for a service pension or income support supplement; and
 (d) the person:
 (i) is a veteran and has reached pension age; or
 (ii) is the partner of a veteran referred to in subparagraph (i); or
 (iii) is receiving or is eligible for an income support supplement and has reached qualifying age; and
 (da) the person is not bankrupt; and
 (db) the person is not subject to a personal insolvency agreement under Part X of the Bankruptcy Act 1966; and
 (dc) the Commission is satisfied that there is adequate and appropriate insurance in relation to the couple's real assets; and
 (e) either:
 (i) the Commission is satisfied that the value of the couple's real assets (after deduction of any nominated amount) is sufficient to secure the payment of any debt that may become payable to the Commonwealth under this Subdivision; or
 (ii) subsection (3) applies to both of the members of the couple.
Note 2: For real assets see subsection 52ZAAA(1).
Note 3: For nominated amount, see subsection 52ZAAA(1).
Note 4: For pension age see section 5QA.
Note 5: For qualifying age see section 5Q.

Attributable stakeholder of a company or trust
 (3) This subsection applies to a person if:
 (a) either:
 (i) the person