VETERANS' ENTITLEMENTS ACT 1986 - SECT 52FAAA Application of asset deprivation rules to cease in respect of certain assets

VETERANS' ENTITLEMENTS ACT 1986 - SECT 52FAAA

    If:

  (a)   a person, or a person's partner, has:

  (i)   acquired an asset; or

  (ii)   received consideration that is not inadequate consideration for an asset; and

  (b)   the value of the asset is included in the value of the person's assets by Subdivision BA or BB because of a previous disposition of the asset; and

  (c)   the person has, by document lodged at an office of the Department in Australia in accordance with section   5T, notified the Department of the circumstances covered by paragraphs   (a) and (b);

whichever of Subdivisions BA and BB is applicable ceases, from the start of the day on which the document is lodged, to apply in respect of that disposition of the asset.