Commonwealth Consolidated Acts

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Pension loans scheme definitions

             (1)  In this Division, unless the contrary intention appears:

"disposes of real assets" has its ordinary meaning.

"maximum payment rate" means the rate worked out at Step 4 of the Method statement in Module A of the relevant Pension Rate Calculator.

"nominated amount" means the amount (if any) specified to be the nominated amount under paragraph 1136(1A)(b) or subsection 1137(1) (as the case may be).

"real assets" , in relation to a person or couple, means the real property (including the principal home) of the person or couple in Australia, but does not include any real property specified under paragraph 1136(1A)(a).

             (2)  For the purposes of this Division, a reference to a charge under section 1138 includes a reference to a charge continued in force by subsection 1138(3) or paragraph 1139(2A)(b).

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