Document ID: chunk:federal_register_of_legislation:C2011C00056:clause:1_123ye:p1
Version: federal_register_of_legislation:C2011C00056
Segment Type: clause
Provision Reference: sch 1 cl 123YE (pt 1/2)
Character Range: 86807–89348

123YE  Stored value cards—general

Scope

 (1) This section applies if:
 (a) a person (the first person) is subject to the income management regime; and
 (b) the first person's income management account has a credit balance; and
 (c) the first person does not have a designated nominee.

Stored value cards

 (2) The Secretary may, on behalf of the Commonwealth:
 (a) give the first person a stored value card that enables the first person to acquire goods or services, so long as no part of the monetary value stored on the card may be withdrawn in cash; or
 (b) with the consent of the first person, give a third person a stored value card that enables the third person to acquire goods or services, so long as no part of the monetary value stored on the card may be withdrawn in cash; or
 (c) increase the monetary value stored on a stored value card held by the first person, so long as:
 (i) no part of the monetary value stored on the card may be withdrawn in cash; and
 (ii) the stored value card enables the first person to acquire goods or services; or
 (d) with the consent of the first person, increase the monetary value stored on a stored value card held by a third person, so long as:
 (i) no part of the monetary value stored on the card may be withdrawn in cash; and
 (ii) the stored value card enables the third person to acquire goods or services;
so long as:
 (e) if paragraph (a) or (b) applies—the monetary value stored on the card does not exceed the credit balance of the first person's income management account; or
 (f) if paragraph (c) or (d) applies—the increase in monetary value does not exceed the credit balance of the first person's income management account.

 (3) A stored value card may be for limited goods or services.

Special Account to be debited

 (4) If, under subsection (2), the Secretary gives the first person or a third person a stored value card, the Special Account is debited by an amount equal to the monetary value stored on the card.

 (5) If, under subsection (2), the Secretary increases the monetary value stored on a stored value card held by the first person or a third person, the Special Account is debited by an amount equal to the increase in the monetary value.

First person's income management account to be debited

 (6) If, under subsection (2), the Secretary gives the first person or a third person a stored value card, the first person's income management account is debited by an amount equal to the monetary value stored on the card.

 (7) If, under subsection (2),