Document ID: chunk:federal_register_of_legislation:C2010A00093:clause:2_1061wg
Version: federal_register_of_legislation:C2010A00093
Segment Type: clause
Provision Reference: sch 2 cl 1061WG
Character Range: 42651–44473

1061WG  Qualification for matched savings scheme (income management) payment
 (1) A person is qualified for a matched savings scheme (income management) payment if:
 (a) the person has completed an approved course; and
 (b) the Secretary is satisfied that:
 (i) the person has maintained a pattern of regular savings throughout a period (the qualifying savings period) of at least 13 consecutive weeks beginning after the person commenced the approved course; and
 (ii) the person has a qualifying savings amount; and
 (c) the person is subject to the income management regime under section 123UC, 123UCA, 123UCB, 123UCC, 123UD or 123UE of the Administration Act, and was subject to the income management regime under one of those sections throughout the qualifying savings period.
 (2) For the purposes of paragraph (1)(a), a course is an approved course if it is a course approved by the Secretary, by legislative instrument, for the purposes of this subsection.
 (3) In deciding whether he or she is satisfied as mentioned in paragraph (1)(b), the Secretary must comply with any decision‑making principles set out in a legislative instrument made by the Minister for the purposes of this subsection.
 (4) A person has a qualifying savings amount if the amount (the second amount) of the person's savings at the end of the qualifying savings period is greater than the amount (if any) (the first amount) of the person's savings at the beginning of that period. The difference between the second amount and the first amount is the person's qualifying savings amount.
 (5) For the purposes of subsection (4), a person's qualifying savings amount does not include any amount credited to the person's income management account (within the meaning of Part 3B of the Administration Act) during the qualifying savings period.