Commonwealth Numbered Acts

SOCIAL SECURITY LEGISLATION AMENDMENT ACT (No. 3) 1992 No. 230, 1992 - SECT 137

137. Section 9 of the Principal Act is amended:

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

" 'allocated annuity' has the meaning given by subsection (8);
'allocated pension' has the meaning given by subsection (8);";

   (b)  by inserting after paragraph (1B)(f) the following paragraph:

"(g) an allocated pension or allocated annuity;";
(c) by inserting at the end of paragraph (1C)(f) "that is not an allocated
annuity";
(d) by inserting at the end of paragraph (1C)(g) "that is not an allocated
pension";

   (e)  by adding at the end the following subsection:

"(8) A pension or annuity is an allocated one if either:

   (a)  the rate of payment of the pension or annuity; or

   (b)  the basis for variations in the rate of payment of the pension or
        annuity; is not fully defined in the relevant trust deed or
        contract.".