Document ID: chunk:federal_register_of_legislation:C2025C00162:section:1133:p1
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 1133 (pt 1/2)
Character Range: 2239697–2242304

1133  Qualification for participation in pension loans scheme

Person not member of a couple
 (1) A person who is not a member of a couple is qualified to participate in the pension loans scheme if:
 (a) the person is receiving or is qualified for:
 (i) age pension; or
 (ii) disability support pension; or
 (iii) carer payment; and
 (c) the person has reached pension age; and
 (ca) the person is not bankrupt; and
 (cb) the person is not subject to a personal insolvency agreement under Part X of the Bankruptcy Act 1966; and
 (cc) the Secretary is satisfied that there is adequate and appropriate insurance in relation to the person's real assets; and
 (d) either:
 (i) the Secretary is satisfied that the value of the person's real assets (after deduction of any nominated amount) is sufficient to secure the payment of any debt that may become payable to the Commonwealth under this Division; or
 (ii) subsection (3) applies to the person.
Note 2: For real assets see subsection 1133AA(1).
Note 3: For nominated amount, see subsection 1133AA(1).
Note 4: For pension age see subsections 23(5A), (5B), (5C) and (5D).

Person member of a couple
 (2) A person who is a member of a couple is qualified to participate in the pension loans scheme if:
 (a) the person is receiving or is qualified for:
 (i) an age pension; or
 (ii) a disability support pension; or
 (iv) a carer payment; and
 (c) the person:
 (i) has reached pension age; or
 (ii) is the partner of a person who has reached pension age; and
 (ca) the person is not bankrupt; and
 (cb) the person is not subject to a personal insolvency agreement under Part X of the Bankruptcy Act 1966; and
 (cc) the Secretary is satisfied that there is adequate and appropriate insurance in relation to the couple's real assets; and
 (d) either:
 (i) the Secretary is satisfied that the value of the couple's real assets (after deduction of any nominated amount) is sufficient to secure the payment of any debt that may become payable to the Commonwealth under this Division; or
 (ii) subsection (3) applies to both of the members of the couple.
Note 2: For real assets see subsection 1133AA(1).
Note 3: For nominated amount, see subsection 1133AA(1).
Note 4: For pension age see subsections 23(5A), (5B), (5C) and (5D).
 (3) This subsection applies to a person if:
 (a) either:
 (i) the person is an attributable stakeholder of a company or trust (within the meaning of Part 3.18); or
 (ii) the person is a member of a couple and the other member of the couple is an attributable stakeholder of a company or trust (within the meaning of Part 3.18); and
 (b)