Document ID: chunk:federal_register_of_legislation:C2019A00005:clause:1_80
Version: federal_register_of_legislation:C2019A00005
Segment Type: clause
Provision Reference: sch 1 cl 80
Character Range: 49672–51453

80  Application provisions
(1) The amendment made by item 49 applies in relation to a payment made on or after the commencement of this item.
(2) Sections 46YB, 52BAA and 52BAB of the Veterans' Entitlements Act 1986, as added or inserted by this Schedule, apply in relation to an asset‑tested income stream (lifetime), where:
 (a) the first payment for the income stream is made on or after the commencement of this item (whether the payment represents the whole payment for the income stream or part only); or
 (b) the income stream is acquired on or after the commencement of this item (if no amount is identifiable as having been paid for the income stream).
(3) Section 46ZBA of the Veterans' Entitlements Act 1986, as inserted by this Schedule, applies in relation to an asset‑tested income stream (lifetime) that is a family law affected income stream, where:
 (a) the first payment for the income stream covered by paragraph 5JC(a) of that Act (that resulted in the family law affected income stream) is made on or after the commencement of this item (whether the payment represents the whole payment for the income stream covered by paragraph 5JC(a) of that Act or part only); or
 (b) the income stream covered by paragraph 5JC(a) of that Act (that resulted in the family law affected income stream) is acquired on or after the commencement of this item (if no amount is identifiable as having been paid for the income stream covered by paragraph 5JC(a) of that Act).
(4) Section 52CB of the Veterans' Entitlements Act 1986, as inserted by this Schedule, applies in relation to a person who became the owner of the policy concerned on or after the commencement of this item (whether the person reached pension age or qualifying age before, on or after that commencement).