Commonwealth Numbered Acts

SOCIAL SECURITY LEGISLATION AMENDMENT ACT 1990 No. 6, 1991 - SECT 19

19. Section 12L of the Principal Act is amended:
(a) by omitting from subsection (1) "being an amount of a capital nature";

   (b)  by inserting before paragraph (1) (a) the following paragraph:
  "(aa)   income by way of periodic payments;";


   (c)  by inserting in paragraph (1) (c) ", or acquired, by the person" after

"made"; and

   (d)  by omitting subsection (2) and substituting the following subsection:

"(2) A person receives an amount for the purposes of subsection (1) if the
person receives an amount under an arrangement of the kind referred to in the
definition of `accruing return investment' in subsection 3 (1) to the extent
that subsection 12C (1) or (2) does not apply to the receipt.".
Commencement: Day of Royal Assent