Federal Register of Legislation - Australian Government

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No. 2 of 1997 Determinations/Other as made
The Determination sets the rate of compound interest that is payable on a loan under the Pension Loans Scheme.
Administered by: Social Services
Registered 20 Jan 2009
Tabling HistoryDate
Tabled HR12-Mar-1998
Tabled Senate12-Mar-1998
Gazetted 23 Dec 1997
Date of repeal 30 Nov 2018
Repealed by Social Security (Pension Loans Scheme—Rate of Compound Interest) Determination 2018

Commonwealth of Australia

Social Security Act 1991

Pension Loans Scheme (Social Security)—Rate of Compound Interest Determination No. 2 of 1997

I, JOCELYN MARGARET NEWMAN, Minister for Social Security, make this determination under subsection 1135 (4) of the Social Security Act 1991.

Dated 22 December 1997.

 

 

 

JOCELYN NEWMAN

Minister for Social Security

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1.           Citation

This determination may be cited as the Pension Loans Scheme (Social Security)—Rate of Compound Interest Determination No. 2 of 1997.

2.           Commencement

This determination commences on 25 December 1997.

3.           Rate of compound interest

For subsection 1135 (4) of the Social Security Act 1991, the rate of compound interest is 5.25%.

4.           Revocation

Pension Loans Scheme (Social Security)—Rate of Compound Interest Determination No. 1 of 1997 is revoked.