Commonwealth Consolidated Acts

SOCIAL SECURITY ACT 1991 - SECT 1133

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; or

                             (v)  widow B pension; or

                            (vi)  bereavement allowance; and

                     (b)  the rate of that pension or allowance is, or is to be:

                              (i)  an income reduced rate; or

                             (ii)  an assets reduced rate;

                            and at least one of those reduced rates is not a nil rate; and

                     (c)  the person has reached pension age; and

                     (d)  either:

                              (i)  the value of the person's real assets (after deduction of any guaranteed 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 1:       For income reduced rate and assets reduced rate see subsection 1133AA(1).

Note 2:       For real assets see subsection 1133AA(1).

Note 3:       For guaranteed 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

                            (iii)  a wife pension; or

                            (iv)  a carer payment; and

                     (b)  the rate of that pension is, or is to be:

                              (i)  an income reduced rate; or

                             (ii)  an assets reduced rate;

                            and at least one of those reduced rates is not a nil rate; and

                     (c)  the person:

                              (i)  has reached pension age; or

                             (ii)  is the partner of a person who has reached pension age; and

                     (d)  either:

                              (i)  the value of the couple's real assets (after deduction of any guaranteed 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 1:       For i ncome reduced rate and assets reduced rate see subsection 1133AA(1).

Note 2:       For real assets see subsection 1133AA(1).

Note 3:       For guaranteed 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)  the company or trustee has given the Commonwealth a guarantee that the company or trustee will pay any debt that may become payable to the Commonwealth by the person under this Division; and

                     (c)  the company's or trustee's liability under the guarantee is secured by a charge against real property of the company or trust in Australia; and

                     (d)  the Secretary is satisfied that the value of that real property is sufficient to secure the payment of any amount that may become payable by the company or trustee under the guarantee; and

                     (e)  the Secretary has, by writing, approved the guarantee and the charge.