Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p34
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 88023–90965

distribution to genuine investor

Part 4 Disposal of asset (before 1 January 2002) by attributable stakeholder

 14Purpose of Part 4

 15Definitions

 16Application of asset disposal provisions where value of asset same or greater

 17Application of asset disposal provisions where value of asset decreased after disposal

 18Application of asset disposal provisions where company or trust retains value of transferred asset

 19Transfer by member of couple

Part 5 Disposal of asset (before 1 January 2002) by individual whose spouse is attributable stakeholder

 20Purpose of Part 5

 21Definitions

 22Application of asset disposal provisions where value of asset same or greater

 23Application of asset disposal provisions where value of asset decreased after disposal

 24Application of asset disposal provisions where company or trust retains value of transferred asset

Part 1 Preliminary

1 Name of Principles

  These Principles are the Veterans' Entitlements (Modification of Asset Deprivation Rules) Principles 2002.

2.  Commencement

  These Principles commence when the Veterans' Affairs (Legislative Instrument Re-making Exercise) Instrument 2014 commences.

3 Definitions

  In these Principles:
Act means the Veterans' Entitlements Act 1986.
asset disposal provisions means Subdivision B of Division 11 of Part IIIB of the Act and section 45UT of the Act.

4 Purpose

  These Principles set out decision-making principles with which the Commission must comply for the purposes of making a determination under subsection 52ZZW (1), 52ZZX (3), 52ZZZ (1) or 52ZZZA (1) of the Act.

Part 2 Disposal of asset (on or after 1 January 2002) by individual

5 Purpose of Part 2

  This Part sets out decision-making principles with which the Commission must comply in making a determination for subsection 52ZZW (1) of the Act.

6 Definitions

  In this Part:
individual means an individual who transfers property to a company or trust in accordance with subsection 52ZZW (1) of the Act.
transfer of property means a transfer of property by way of capital contribution.

7 Transferor as sole attributable stakeholder

 (1) This section applies to an individual who is not a member of a couple.

 (2) The Commission must take into account whether the individual was the only attributable stakeholder of the company or trust, either before or after the transfer.

8 Transferor as member of couple

 (1) This section applies to an individual who is a member of a couple.

 (2) The Commission must take into account whether:
 (a) the individual was the only attributable stakeholder of the company or trust, before or after the transfer; or
 (b) both members of the couple were the only attributable stakeholders of the company or trust, before or after the transfer.

9 Transfer to company or trust with 2 or more attributable stakeholders

 (1) This section applies if, in relation to a transfer of property to a company or