Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if:
(a) a person is eligible to participate in the pension loans scheme; and
(b) the person makes a request to participate under section 52ZD; and
(c) the Commission is satisfied that the amount of any debt that becomes payable by the person to the Commonwealth under this Subdivision is readily recoverable.
(1A) The rate of the pension payable to the person by operation of the scheme is to be:
(a) if the pension will not be received in relation to a pension loans scheme advance payment period for the person:
(i) 1.5 multiplied by the maximum payment rate; or
(ii) a lower rate nominated by the person; or
(b) if the pension will be received in relation to a pension loans scheme advance period for the person:
(i) the greater of the maximum payment rate and 1.5 multiplied by the maximum payment rate less any amounts of pension loans scheme advance payment received by the person in relation to the period; or
(ii) a lower rate nominated by the person.
Note: For the meaning of maximum payment rate , see subsection 52ZAAA(1).
(2) The pension at the rate payable by operation of the scheme is payable on and from the day on which the request is lodged.
(3) For the purposes of section 53A (fringe benefits), if but for the operation of the scheme the person would not have received a service pension or income support supplement, the person is to be taken to be a person who is not receiving a service pension or income support supplement.
(4) For the purposes of Subdivision C of Division 12 (treatment benefits), if but for the operation of the scheme the person would not have received a service pension or income support supplement, the person is to be taken to be a person who is not receiving an age or invalidity service pension.