Commonwealth Numbered Acts

SOCIAL SECURITY ACT 1991 No. 46, 1991 - SECT 1199

1199. (1) Subject to subsection (2), this Act (and any other Act that refers
to this Act) have effect as if, on 1 January each year, the amount worked out
in accordance with the following formula were substituted for the FAS under 13
MBR:
CPC Rate X 3 - FA amount
520
Note 1: for "CPC Rate" ("combined pensioner couple rate") see subsection 20
(2).
Note 2: for "FA amount" ("family allowance amount") see subsection 20 (3).
Note 3: explanation of the formula - start with the current rate of pension
paid to a member of a pensioner couple - multiply this rate by 2 to get the
total yearly rate paid to the 2 members of such a couple (the "combined
pensioner couple rate") - divide by 26 to convert the pensioner couple rate
from a yearly rate to a fortnightly rate - work out what 15% of the converted
rate is - deduct the family allowance amount.
combined pensioner couple rate X 1 X 15- family allowance amount
                                    26   100

=    combined pensioner couple rate X 1 X 3 - family allowance amount

26 20
=    combined pensioner couple rate X  3 - family allowance amount

520

(2) Subsection (1) does not apply if the amount worked out in accordance with
the formula in that subsection is less than the current figure (immediately
before the 1 January concerned) for the FAS under 13 MBR.
Note: for "current figure" see subsection 20 (1).

(3) Subject to subsection (4), this Act (and any other Act that refers to this
Act) have effect as if, on 1 January each year, the amount worked out in
accordance with the following formula were substituted for the FAS 13-16 MBR:
CPC Rate X 1 - FA amount
130
Note 1: for "CPC Rate" ("combined pensioner couple rate") see subsection 20
(2).
Note 2: for "FA amount" ("family allowance amount") see subsection 20 (3).
Note 3: explanation of the formula - start with the current rate of pension
for a member of a pensioner couple - multiply this rate by 2 to get the total
rate paid to the 2 members of such a couple (the "combined pensioner couple
rate") - divide by 26 to convert the annual rate to a fortnightly rate - work
out 20% of the converted combined rate - deduct the amount of family allowance
paid in respect of the child.
combined pensioner couple rate X 1 X 20- family allowance amount
26 100
=    combined pensioner couple rate X  1 X 1 - family allowance amount

                                      26   5

=    combined pensioner couple rate X  1 - family allowance amount

130

(4) Subsection (3) does not apply if the amount worked out in accordance with
the formula in that subsection is less than the current figure (immediately
before the 1 January concerned) for the FAS 13-16 MBR.
Note: for "current figure" see subsection 20 (1).

(5) If the amount worked out under subsection (1) or (3) is not a multiple of
5 cents, the amount to be substituted under that subsection is to be increased
to the next highest amount that is a multiple of 5 cents.