Social Security (Loan Fringe Benefits – Market Rate of Interest) Determination 2018 (Cth)

Social Security (Loan Fringe Benefits – Market Rate of Interest) Determination 2018

I, Paul Fletcher, Minister for Families and Social Services make the following instrument.

Dated 22 November 2018

Paul Fletcher

Minister for Families and Social Services

1. Name of Determination

This instrument is the Social Security (Loan Fringe Benefits – Market Rate of Interest) Determination 2018.

1. Commencement

(1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1.  The whole of this instrument	The day after this instrument is registered.	28 November 2018

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

(2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

1. Authority

This instrument is made under subsection 1157Q(4A) of the Social Security Act 1991.

4              Schedule – Revocation of previous Determination

Schedule 1 repeals the Social Security (Loan Fringe Benefits) (Market Rate of Interest) Determination No. 1.

5              Definitions

In this instrument:

Act means the Social Security Act 1991.

6              Loan fringe benefits – market rate of interest

For subsection 1157Q(4A) of the Act, the following banks are specified:

(a)    Australia and New Zealand Banking Group Limited;

(b)   Commonwealth Bank of Australia;

(c)    National Australia Bank Limited;

(d)   Westpac Banking Corporation.

Schedule 1—Repeals

Social Security (Loan Fringe Benefits) (Market Rate of Interest) Determination No. 1

1              The whole of the instrument

Repeal the instrument.