Social Security (Partially Asset-test Exempt Income Stream – Exemption) (FaHCSIA) Amendment Principles 2010 (No. 1) (Cth)

Social Security (Partially Asset-test Exempt Income Stream ‑ Exemption) (FaHCSIA) Amendment Principles 2010 (No. 1)

Social Security Act 1991

I, JEFFREY ALLAN HARMER, Secretary of the Department of Families, Housing, Community Services and Indigenous Affairs, make these Principles under subsection 1118(1A) of the Social Security Act 1991.

Dated    9^th February   2010

J Harmer

Secretary of the Department of Families, Housing, Community Services and Indigenous Affairs

1          Name of Principles

These Principles are the Social Security (Partially Asset-test Exempt Income Stream  ‑ Exemption) (FaHCSIA) Amendment Principles 2010 (No. 1).

2          Commencement

These Principles commence on the day after they are registered.

3          Amendment of Social Security (Partially Asset-test Exempt Income Stream – Exemption) (FACS) Principles 2005

Schedule 1 amends the Social Security (Partially Asset-test Exempt Income Stream  ‑ Exemption) (FACS) Principles 2005.

Schedule 1                  Amendments

(section 3)

[1]        Section 1

substitute

1          Name of Principles

These Principles are the Social Security (Partially Asset-test Exempt Income Stream  ‑ Exemption) (FaHCSIA) Principles 2005.

[2]        Section 4         Definitions

After the definition of life company

insert

partner has the meaning given by subsection 4(1) of the Act.

[3]        Paragraph 7(b)

omit

primary beneficiary’s spouse (or former spouse)

insert

primary beneficiary’s partner (or former partner)

[4]        Paragraph 7(c)

omit

spouse (or former spouse)

insert

partner (or former partner)

[5]        Paragraph 8(b)

omit

primary beneficiary’s spouse (or former spouse)

insert

primary beneficiary’s partner (or former partner)