Commonwealth Numbered Acts

VETERANS' AFFAIRS (1994-95 BUDGET MEASURES) LEGISLATION AMENDMENT ACT (No. 2) 1994 No. 164 of 1994 - SECT 20

20. The Rate Calculator in section 45Y of the Principal Act is amended:

   (a)  by omitting the heading to Module A and substituting the following:
                    "MODULE A-GENERAL PROVISIONS";


   (b)  by omitting point 45Y-A1 and substituting the following point:

"45Y-A1. This Module contains provisions of general application in the
Calculator.";

   (c)  by adding at the end of Module A the following point:

"45Y-A7. The amount of the reduction in the pension is worked out by using the
formula:
FPR - CRR where: FPR (full pension rate) is the amount per annum that would
have been the annual rate of the pension if it had not been reduced; and CRR
(compensation reduced rate) is the annual rate of pension payable to the
person after the pension has been reduced.";

   (d)  by omitting Modules B and C and substituting the Modules set out in
        Part 1 of Schedule 2;

   (e)  by inserting after point 45Y-D3 the following point: Payment of
        arrears of periodic compensation payments

"45Y-D3A. If:

   (a)  at the time of an event that gives rise to an entitlement of a person
        to compensation, the person is receiving a compensation affected
        pension; and

   (b)  in relation to the entitlement, the person receives a payment
        ('arrears payment') of arrears of periodic compensation; the person is
        taken to receive on each day in the periodic payments period an amount
        calculated by dividing the amount of the arrears payment by the number
        of days in the periodic payments period. Note: For 'event that gives
        rise to an entitlement to compensation' and 'periodic payments period'
        see section 5NB.";

   (f)  by adding at the end the Module set out in Part 2 of Schedule 2.