Document ID: chunk:federal_register_of_legislation:C2006C00468:clause:8_48
Version: federal_register_of_legislation:C2006C00468
Segment Type: clause
Provision Reference: sch 8 cl 48
Character Range: 67460–69704

48  Application of amendments

(1) The amendments made by items 15, 16, 21 and 33 to 45 apply in working out the annual rate of ordinary income of a person from an income stream after the commencement of this item, whether the income stream was purchased, or acquired, by or for the primary beneficiary or primary beneficiaries before, at or after the commencement of this item.

(2) The amendments made by items 17, 18, 19, 20, 30, 31 and 32 apply in working out if an income stream is:
 (a) a family law affected income stream; or
 (b) an original family law affected income stream; or
 (c) a primary FLA income stream; or
 (d) a secondary FLA income stream;
after the commencement of this item, whether the income stream was purchased, or acquired, by or for the primary beneficiary or primary beneficiaries before, at or after the commencement of this item.

(3) The amendment made by item 22 applies to income streams purchased, or acquired, by or for the primary beneficiary or primary beneficiaries after the commencement of this item.

(4) The amendments made by items 23 and 24 apply in working out if an income stream is covered by section 9A of the Social Security Act 1991 after the commencement of this item, whether the income stream was purchased, or acquired, by or for the primary beneficiary or primary beneficiaries before, at or after the commencement of this item.

(5) Subject to subitem (6), the amendments made by items 25 to 29 apply in working out if an income stream is covered by section 9B of the Social Security Act 1991 after the commencement of this item, whether the income stream was purchased, or acquired, by or for the primary beneficiary or primary beneficiaries before, at or after the commencement of this item.

(6) Paragraph 9B(2F)(b) of the Social Security Act 1991 applies to income streams purchased, or acquired, by or for the primary beneficiary or primary beneficiaries on or after 1 January 2006.

(7) The amendments made by items 46 and 47 apply in working out the value of an income stream after the commencement of this item, whether the income stream was purchased, or acquired, by or for the primary beneficiary or primary beneficiaries before, at or after the commencement of this item.