Social Security (Exempt Lump Sums – Financial Product Rebate Payments – Ending Conflicted Remuneration) Determination 2020
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4 Definitions
In this instrument: Act means the Social Security Act 1991. conflicted remuneration has the meaning given in Division 4 of Part 7.7A of the Corporations Act 2001. exempt lump sum has the meaning given in subsection 8(11) of the Act. rebate payment means an amount received by a person that is: a) not a periodic payment; and b) made as a result of the removal of grandfathering arrangements for conflicted remuneration and the legislative amendments to be made by the Treasury Laws Amendment (Ending Grandfathered Conflicted Remuneration) Act 2019; and c) paid pursuant to section 963P of the Corporations Act 2001 (on or after 1 January 2021) or in anticipation of the commencement of section 963P of the Corporations Act 2001 (before 1 January 2021). 5 Exempt lump sum For the purposes of paragraph 8(11)(d) of the Act, a rebate payment is an exempt lump sum.