Document ID: chunk:federal_register_of_legislation:C2004A03539:body:0:p49
Version: federal_register_of_legislation:C2004A03539
Segment Type: other
Provision Reference: 
Character Range: 118247–121048

Principal Act is amended by omitting from subsections (10) and (11) "(not being a course of conduct under which the person ceases employment or to engage in a business or profession or reduces the extent to which the person is employed or the extent to which the person engages in a business or profession)".
Commencement: 13 November 1987

Financial hardship
76. (1) Section 53 of the Principal Act is amended:
    (a) by omitting from paragraph (1) (c) "and" (last occurring);
    (b) by inserting after paragraph (1) (c) the following paragraph:
       "(ca) the person lodges at an office of the Department in Australia a written request that this section apply in relation to the person; and"; and
    (c) by inserting after subsection (1) the following subsections:
    "(1a) Where a request is lodged under paragraph (1) (ca), the Secretary shall:
       (a) cause an investigation to be made into the matters to which the request relates; and
       (b) upon completion of the investigation, cause the request, accompanied by:
            (i) any evidence furnished by the person making the request in support of the request; and
            (ii) any documents relevant to the request under the control of the Department, including any evidence or documents relevant to the request obtained in the course of the investigation;
        to be submitted to the Commission for its consideration and determination.
    "(1b) A determination under subsection (1) takes effect:
       (a) on the day on which the request under paragraph (1) (ca) was lodged; or
       (b) if the Commission so determines in the special circumstances of the case—on a day not more than 6 months before the day referred to in paragraph (a).".
Commencement: Day of Royal Assent

(2) Section 53 of the Principal Act is amended by omitting subsection (3) and substituting the following subsection:

"(3) Where:
    (a) the amount per annum of the reduction under subsection (2) in the maximum annual rate of pension 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 annum:
        (i) the amount per annum equal to 2.5% of the value of that property;
        (ii) 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 (2) in respect of that property; the maximum annual rate of pension 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 annum; or
    (d) in a case to which paragraph (b) applies—be reduced by that lesser amount per