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

Commonwealth of Australia

Social Security Act 1991

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

I, PETER JEREMY BALDWIN, Minister for Social Security, make the following Determination under subsection 1157Q (4A) of the Social Security Act 1991.

Dated         16 October              1995.

Peter Baldwin

Minister for Social Security

Citation

1.  This Determination may be cited as the Social Security (Loan Fringe Benefits) (Market Rate of Interest) Determination No. 1.

[NOTE: This Determination commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.]

Interpretation

2.  In this Determination:

“Act” means the Social Security Act 1991.

Loan fringe benefits—market rate of interest

3.  For the purposes of 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.