Commonwealth Numbered Acts

SOCIAL SECURITY LEGISLATION AMENDMENT ACT (No. 2) 1994 No. 109, 1994 - SECT 47

47. Section 9 of the Principal Act is amended:

   (a)  by inserting the following definitions in subsection (1):

"'allocated annuity' has the meaning given by subsection (8);
'allocated pension' has the meaning given by subsection (8);";

   (b)  by inserting after subsection (7) the following subsection:



"(8) A pension or annuity is an allocated one if:

   (a)  the pension or annuity was purchased on or after 1 July 1992; and

   (b)  either:

        (i)    the rate of payment of the pension or annuity; or

        (ii)   the basis for variations in the rate of payment of the pension
               or annuity; is not fully defined in the relevant trust deed or
               contract.".