Document ID: chunk:federal_register_of_legislation:F2022L00443:clause:1_6
Version: federal_register_of_legislation:F2022L00443
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 2706–4094

6  Class of debts
         For subparagraph 206(1)(b)(ii) of the Act, a debt is in a specified class of debts if:
             (a)    it is a debt due to the Commonwealth by a person under section 52ZMA of the Act; and
             (b)    the debt did not arise because the person knowingly made a false or misleading statement, or knowingly provided false information to the Commonwealth; and
             (c)    immediately before the commencement of this Specification, the income stream that is relevant for the purposes of section 52ZMA of the Act:
                  1. was:
                      (A)            an asset-test exempt income stream which met the requirements of either sections 5JA or 5JB of the Act; or
                      (B)            an asset-tested income stream (long term) that was previously an asset-test exempt income stream which failed to meet the requirements of either paragraphs 5JA(1)(b) or 5JB(1A)(b) of the Act; and
                  ii.      was sourced from:
                      (A)            a self managed superannuation fund; or
                      (B)            a small APRA fund; and
             (d)    on or after the commencement of this Specification, the income stream that is relevant for the purposes of section 52ZMA of the Act is commuted and rolled over to purchase a 100 percent asset tested market-linked income stream.