Document ID: chunk:federal_register_of_legislation:C2024C00458:section:123yf:p1
Version: federal_register_of_legislation:C2024C00458
Segment Type: section
Provision Reference: s 123YF (pt 1/2)
Character Range: 658714–661247

123YF  Stored value cards—Part 3B payment nominee

Scope
 (1) This section applies if:
 (a) a person (the first person) is subject to the income management regime; and
 (b) the first person's income management account has a credit balance; and
 (c) the first person has a Part 3B payment nominee.

Stored value cards
 (2) The Secretary may, on behalf of the Commonwealth:
 (a) give the Part 3B payment nominee a stored value card that enables the Part 3B payment nominee to acquire goods or services, so long as no part of the monetary value stored on the card may be withdrawn in cash; or
 (b) with the consent of the Part 3B payment nominee, give the first person a stored value card that enables the first person to acquire goods or services, so long as no part of the monetary value stored on the card may be withdrawn in cash; or
 (c) increase the monetary value stored on a stored value card held by the Part 3B payment nominee, so long as:
 (i) no part of the monetary value stored on the card may be withdrawn in cash; and
 (ii) the stored value card enables the Part 3B payment nominee to acquire goods or services; or
 (d) with the consent of the Part 3B payment nominee, increase the monetary value stored on a stored value card held by the first person, so long as:
 (i) no part of the monetary value stored on the card may be withdrawn in cash; and
 (ii) the stored value card enables the first person to acquire goods or services;
so long as:
 (e) if paragraph (a) or (b) applies—the monetary value stored on the card does not exceed the credit balance of the first person's income management account; or
 (f) if paragraph (c) or (d) applies—the increase in the monetary value does not exceed the credit balance of the first person's income management account.
 (3) A stored value card may be for limited goods or services.

Income Management Record to be debited
 (4) If, under subsection (2), the Secretary gives the Part 3B payment nominee or the first person a stored value card, the Income Management Record is debited by an amount equal to the monetary value stored on the card.
 (5) If, under subsection (2), the Secretary increases the monetary value stored on a stored value card held by the Part 3B payment nominee or the first person, the Income Management Record is debited by an amount equal to the increase in the monetary value.

First person's income management account to be debited
 (6) If, under subsection (2), the Secretary gives the Part 3B payment nominee or the first person a stored value card,