Commonwealth Numbered Acts

SOCIAL SECURITY LEGISLATION AMENDMENT ACT (No. 3) 1992 No. 230, 1992 - SECT 129

129. Section 9 of the Principal Act is amended:

   (a)  by inserting in subsection (1) the following definitions:

" 'investment', in relation to a superannuation fund, approved deposit fund or
deferred annuity, has the meaning given by subsection (9);
'realise', in relation to an investment, has the meaning given by subsections
(10) and (11);";

   (b)  by adding at the end the following subsections:

"(9) For the purposes of this Act, a person has an investment in a
superannuation fund, approved deposit fund or deferred annuity if the person
has benefits in the fund or under the annuity (whether the benefits are
attributable to amounts paid by the person or someone else).

"(10) For the purposes of this Act, a person realises an investment if, and
only if:

   (a)  all or part of the amount of the investment is withdrawn; or

   (b)  where the investment is an eligible investment in a body corporate or
        trust fund - the person transfers all or part of the investment to
        another body corporate or trust fund; or

   (c)  all or part of the return on the investment is paid to another person;
        or

   (d)  the investment matures; or

   (e)  the investment is assigned by the person to another person; or

   (f)  the investment is disposed of by the person otherwise than in the way
        referred to in paragraph (e).

"(11) For the purposes of subsection (10), if:

   (a)  a person realises an investment; and

   (b)  the return on the investment is paid to another person; the return is
        taken to be received by the person realising the investment.".