Commonwealth Numbered Acts

SOCIAL SECURITY LEGISLATION AMENDMENT ACT (No. 4) 1991 No. 194, 1991 - SECT 59

59. Section 23 of the Principal Act is amended by inserting in subsection (1)
the following definitions: "`financial hardship farmer' means a person in
respect of whom a certificate under subsection 26(1) is in force; `life
insurance policy', in relation to a financial hardship farmer, includes a life
policy within the meaning of the Life Insurance Act 1945; Note: under the Life
Insurance Act 1945, a life policy includes an instrument evidencing a contract
which is subject to payment of premiums for a term dependent on the
termination or continuance of human life and an instrument securing the grant
of an annuity for a term dependent upon human life. `RAS authority' means an
authority of a State or Territory that is responsible for the administration
of the Rural Adjustment Scheme on behalf of the State or Territory; `Rural
Adjustment Scheme' means the scheme of assistance established and operated by
a State or Territory in accordance with clause 9 of the agreement set out in
the Schedule to the States and Northern Territory Grants (Rural  Adjustment)
Act 1988 ; `section 26 certificate date' means the day specified in a
certificate issued under subsection 26(1); `subsection 11(14) asset' means an
asset that is unrealisable because of subsection 11(14);".