Document ID: chunk:federal_register_of_legislation:C2025C00162:section:1073e:p3
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 1073E (pt 3/3)
Character Range: 2090692–2092180

is necessary, because of the cessation itself, the person, on a day (the participation day):
 (i) ceases to be a person to whom the student income bank set out in Module J of the Youth Allowance Rate Calculator applies; and
 (ii) becomes a working credit participant; and
 (d) the person had a student income bank balance greater than nil immediately before the participation day;
the student income bank balance mentioned in paragraph (d), to the extent that it does not exceed the threshold amount (see subsection (7)), becomes the opening balance of the working credit applicable to the person on the participation day.

Opening balance following cessation of ABSTUDY payment
 (6) If:
 (a) a person to whom the income bank under the ABSTUDY scheme applies stops being such a person; and
 (b) the person becomes a working credit participant on a day (the participation day) within 12 months after so stopping; and
 (c) immediately before so stopping, the person had a credit balance greater than nil under the scheme;
the credit balance, to the extent that it does not exceed the threshold amount (see subsection (7)), becomes the opening balance of the working credit applicable to the person on the participation day.

Threshold amount
 (7) In this section:
threshold amount means:
 (a) if, on the participation day, the person is receiving youth allowance, the person is not undertaking full‑time study and the person is not a new apprentice—$3,500; or
 (b) in any other case—$1,000.