Document ID: chunk:federal_register_of_legislation:C2025C00162:clause:1a_86
Version: federal_register_of_legislation:C2025C00162
Segment Type: clause
Provision Reference: sch 1A cl 86
Character Range: 2886265–2888359

86  Transitional and saving provisions applicable to the amendments relating to the pension loans scheme
 (1) If:
 (a) a person has made a request to participate in the previous pension loans scheme; and
 (b) Schedule 7 to the Amending Act commences before the first pension payday after the lodging of the request;
for the purposes of this clause, the person is to be treated as a person who is participating in the previous pension loans scheme.
 (2) Subject to subclause (3), in relation to a person who is participating in the previous pension loans scheme, subsection 11(1), paragraph 23(11)(b), subsection 1118(1) and Division 4 of Part 3.12 of this Act, as in force immediately before the commencement of Schedule 7 to the Amending Act, continue to have effect as if the Amending Act had not been enacted.
 (3) If a person who is participating in the previous pension loans scheme:
 (a) is qualified to participate in the current pension loans scheme; and
 (b) makes a request to participate in the current scheme;
and the Secretary is satisfied that the amount of any debt that would become payable by the person to the Commonwealth under the current scheme would be readily recoverable, the current scheme applies to the person on and after the first pension payday after the request is lodged.
 (4) The debt owed by a person who was participating in the previous pension loans scheme and who is participating in the current pension loans scheme by operation of subclause (3) is, for the purposes of working out the debt owed by the person under the current scheme, to be added to the basic amount of debt accrued under the current scheme.
 (5) In this clause:
Amending Act means the Social Security and Veterans' Affairs Legislation Amendment Act 1995.
current pension loans scheme means the pension loans scheme in operation under the provisions of this Act, as amended by the Amending Act.
previous pension loans scheme means the pension loans scheme in operation under the provisions of this Act, as in force immediately before the commencement of Schedule 7 to the Amending Act.