Document ID: chunk:federal_register_of_legislation:F2023C00049:clause:1_23
Version: federal_register_of_legislation:F2023C00049
Segment Type: clause
Provision Reference: sch 1 cl 23
Character Range: 39328–40713

23  Partially asset‑test exempt income stream resulting from Family Court order or injunction
  These Principles cover an income stream if:
 (a) it is purchased or acquired by the primary beneficiary or the primary beneficiary's partner or former partner on or after 20 September 2007; and
 (b) it results from a partially asset‑test exempt income stream (the original income stream) being commuted to give effect to:
 (i) an order made under section 79, 90SM, 90SS or 114 of the Family Law Act 1975; or
 (ii) an injunction granted under section 90SS or 114 of that Act, that is binding on a third party under Part VIIIAA of that Act; or
 (iii) any other order or injunction under the Family Law Act 1975 that relates specifically to the original income stream; and
 (c) the original income stream was covered by section 5JA, 5JB or 5JBA of the Act or would have been covered by those sections if paragraph 5JA(1)(aa), subparagraph 5JB(1)(a)(i) or subparagraph 5JBA(1)(a)(i) of the Act did not apply; and
 (d) the original income stream:
 (i) was purchased on or after 20 September 2004 and before 20 September 2007; or
 (ii) was covered by the 2007 Principles during the period starting on 20 September 2007 and ending at the end of 24 November 2011; or
 (iii) until the commencement of these Principles, was covered by the 2011 Principles; or
 (iv) was covered by these Principles.