Document ID: chunk:federal_register_of_legislation:C2024C00866:section:52zaaa
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 52ZAAA
Character Range: 806495–808023

52ZAAA  Pension loans scheme definitions
 (1) In this Subdivision, unless the contrary intention appears:
dispose of real assets has its ordinary meaning.
maximum payment rate, in relation to a service pension or an income support supplement, means the rate worked out in relation to that pension or supplement at Step 4 of Method statement 1, Step 4 of Method statement 2 or Step 4 of Method statement 5, as the case may be, in Module A of the Rate Calculator.
nominated amount means the amount (if any) specified to be the nominated amount under paragraph 52ZD(1A)(b) or subsection 52ZE(1) (as the case may be).
pension loans scheme advance payment: see section 52ZBA.
pension loans scheme advance payment period, for a person, means the period of 26 fortnights starting on the day in relation to which the person's pension loans scheme advance payment was worked out under subsection 52ZBA(2).
real assets, in relation to a person or couple, means the real property (including the principal home) of the person or couple in Australia that is specified under paragraph 52ZD(1A)(a).
 (2) For the purposes of this Subdivision, a reference to a charge under section 52ZF includes a reference to a charge continued in force by subsection 52ZF(3) or paragraph 52ZG(2A)(b).
 (3) For the purposes of this Subdivision, a person is participating in the pension loans scheme if:
 (a) the person has made a request to participate in the scheme under section 52ZD; and
 (c) the person owes a debt to the Commonwealth under section 52ZC.