{"id":"F2009B00025","name":"Pension Loans Scheme (Veterans’ Entitlements)—Rate of Compound Interest Determination No. 2 of 1997","slug":"pension-loans-scheme-veterans-entitlements-rate-of-compound-interest-determination-no-2-of-1997","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":121213,"registerId":"commonwealth-F2009B00025-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Pension Loans Scheme (Veterans’ Entitlements)—Rate of Compound Interest Determination No. 2 of 1997","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\ntitle: Commonwealth of Australia\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\nCommonwealth of Australia\n\nVeterans’ Entitlements Act 1986\n\nPension Loans Scheme (Veterans’ Entitlements)—Rate of Compound Interest Determination No. 2 of 1997\n\nI, JOCELYN MARGARET NEWMAN, Minister for Social Security, make this determination under subsection 52ZC (4) of the Veterans’ Entitlements Act 1986.\n\nDated 22 December 1997.\n\n \n\n \n\n \n\n \n\nJOCELYN NEWMAN\n\nMinister for Social Security\n\n____________\n\n1. Citation\n\nThis determination may be cited as the Pension Loans Scheme (Veterans’ Entitlements)—Rate of Compound Interest Determination No. 2 of 1997.\n\n2. Commencement\n\nThis determination commences on 25 December 1997.\n\n3. Rate of compound interest\n\nFor subsection 52ZC (4) of the Veterans’ Entitlements Act 1986, the rate of compound interest is 5.25%.\n\n4. Revocation\n\nPension Loans Scheme (Veterans’ Entitlements)—Rate of Compound Interest Determination No. 1 of 1997 is revoked.\n\n \n\n \n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1087},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The determination maintains its original narrow purpose of setting the compound interest rate for the Pension Loans Scheme under the Veterans' Entitlements Act 1986."},"complexity_factors":["Only 4 sections total","Single operative provision with no conditional logic","No defined terms or interpretation section","No cross-references except to the enabling Act section"],"plain_english_summary":"**What this does:** This short legal instrument sets the interest rate for loans taken out by veterans under the Pension Loans Scheme.\n\n**The details:**\n- **Who it affects:** Veterans (and their partners) who participate in the Pension Loans Scheme, which allows them to receive advance pension payments as a loan secured against real estate.\n- **What it changes:** It sets the compound interest rate at **5.25%** per annum for these loans.\n- **Why it matters:** This rate determines how much debt accumulates on the loan over time, affecting how much equity the veteran or their estate retains when the loan is eventually repaid (usually when the property is sold).\n- **Timing:** It took effect on 25 December 1997 and replaced an earlier determination from the same year."}},"importantCases":[],"_links":{"self":"/api/acts/pension-loans-scheme-veterans-entitlements-rate-of-compound-interest-determination-no-2-of-1997","history":"/api/acts/pension-loans-scheme-veterans-entitlements-rate-of-compound-interest-determination-no-2-of-1997/history","analysis":"/api/acts/pension-loans-scheme-veterans-entitlements-rate-of-compound-interest-determination-no-2-of-1997/analysis","conflicts":"/api/acts/pension-loans-scheme-veterans-entitlements-rate-of-compound-interest-determination-no-2-of-1997/conflicts","importantCases":"/api/acts/pension-loans-scheme-veterans-entitlements-rate-of-compound-interest-determination-no-2-of-1997/important-cases","documents":"/api/acts/pension-loans-scheme-veterans-entitlements-rate-of-compound-interest-determination-no-2-of-1997/documents"}}