Document ID: chunk:federal_register_of_legislation:F2017L01693:reg:5
Version: federal_register_of_legislation:F2017L01693
Segment Type: reg
Provision Reference: reg 5
Character Range: 2306–4009

5  Definitions
  In this instrument:
Act means the Social Security Act 1991.
appropriate rate of exchange, for an amount in a foreign currency, on a calculation day means:
 (a) if a daily foreign cheques buying rate for the currency was available at the Commonwealth Bank of Australia at the start of business in Sydney on the fifth business day before the calculation day—that rate; or
 (b) if a daily international money transfer buying rate for the currency was available at the Commonwealth Bank of Australia at the start of business in Sydney on the fifth business day before the calculation day, and paragraph (a) does not apply—that rate; or
 (c) if a weekly miscellaneous exchange rate for the currency was available at the Commonwealth Bank of Australia at the start of business in Sydney on the fifth business day before the calculation day, and paragraphs (a) and (b) do not apply—that rate; or
 (d) if a rate of exchange for the currency was available at the Reserve Bank of Australia at the start of business in Sydney on the fifth business day before the calculation day, and paragraphs (a) to (c) do not apply—that rate; or
 (e) if paragraphs (a) to (d) do not apply—either of the following:
 (i) the rate of exchange for the currency (if any) that was available at the central bank for the currency at the start of business for that central bank on the fifth business day before the calculation day;
 (ii) the rate of exchange for the currency (if any) determined by the Secretary for the purposes of subparagraph 1100(3)(b)(ii) of the Act.
business day has the same meaning as in subsection 1100(6) of the Act.
calculation day has the same meaning as in subsection 1100(6) of the Act.