Document ID: chunk:federal_register_of_legislation:C2004A03539:body:0:p12
Version: federal_register_of_legislation:C2004A03539
Segment Type: other
Provision Reference: 
Character Range: 28549–31206

(1) (c) shall be disregarded;
       (b) there shall be deducted from the weekly rate of the benefit that would be payable to the person apart from the operation of section 122 an amount per week equal to the sum of:
           (i) the weekly rate of income of the person (other than income from property of the person that is not property referred to in paragraph (1) (c) or property to which paragraph 4 (1) (a) applies); and
           (ii) an amount per week equal to 50 cents for each $250 of the value of the property of the person (other than property referred to in paragraph (1) (c) or property to which paragraph 4 (1) (a) applies).";
    (g) by inserting after subsection (4) the following subsection:
    "(4a) Where:
       (a) the amount per week of the reduction under subsection (3a) in the maximum weekly rate of a benefit under Part XIII applicable to a person in respect of property of the person or the person's spouse that is property referred to in paragraph (1) (c) is less than the lesser of the following amounts per week:
           (i) the amount per week equal to one fifty-second of 2.5% of the value of that property;
           (ii) one fifty-second of the amount per annum that could reasonably be expected to be obtained from a purely commercial application of that property; or
       (b) there is no reduction under subsection (3a) in respect of that property;
    the maximum weekly rate of benefit applicable to the person shall:
       (c) in a case to which paragraph (a) applies—be further reduced by the difference between that first-mentioned reduction and that lesser amount per week; or
       (d) in a case to which paragraph (b) applies—be reduced by that lesser amount per week.";
    (h) by inserting in subsection (5) ", (3a)" after "subsections (3)"; and

    (j) by omitting subsection (6) and substituting the following subsection:
    "(6) Where:
       (a) the sum of the annual rate of pension, benefit or allowance that would, apart from this subsection, be payable to a person (other than a person who is in receipt of an unemployment benefit or a sickness benefit) and the annual rate of income of the person exceeds the maximum rate; or
       (b) the sum of the weekly rate of benefit that would, apart from this subsection, be payable to a person who is in receipt of an unemployment benefit or a sickness benefit and the weekly rate of income of the person exceeds the applicable rate;
    the rate so payable shall be reduced by the amount per annum of the excess.".
Commencement: Day of Royal Assent

(4) Section 7 of the Principal Act is amended:
    (a) by omitting from paragraph (1) (a) ",