Commonwealth legislation

Social Security Foreign Currency Exchange Rate Determination 2005 (No. 3)

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This determination updates the tables Centrelink uses to convert foreign money into Australian dollars when calculating social security payments.

What it does It changes the name of Romania's currency in the exchange rate tables from "Leu" to "New Leu (Ron)".

Why this matters When Australians receiving pensions or benefits have income or assets in foreign currencies, Centrelink must convert those amounts to Australian dollars to work out payment rates. This technical update ensures Romania's currency is correctly identified after the country replaced its old currency with a new redenominated version (where 1 new leu equals 10,000 old lei).

Who is affected This affects social security recipients who have Romanian income or assets.

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Current sections

Direct links to the current provisions in Social Security Foreign Currency Exchange Rate Determination 2005 (No. 3).

Social Security Foreign Currency Exchange Rate Determination 2005 (No. 3)

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Commonwealth of Australia

Social Security Act 1991

Social Security Foreign Currency Exchange Rate Determination 2005 (No. 3)

I, Patrick Michael Phillips, Business Manager, International Branch, Centrelink, and a delegate of the Chief Executive Officer of Centrelink, make this determination under subsection 1100(5) of the Social Security Act 1991.

Dated 17 November 2005

P Phillips

Business Manager, International Branch

1 Name of determination

This determination is the Social Security Foreign Currency Exchange Rate Determination 2005 (No. 3).

2 Commencement

This determination commences on 1 December 2005.

3 Amendment of Social Security Foreign Currency Exchange Rate Determination 2004 (No. 1)

Schedule 1 amends the Social Security Foreign Currency Exchange Rate Determination 2004 (No. 1) of 18 March 2004.

Schedule 1 Amendment

(section 3)

[1] Table B of Part 4 of the Social Security Foreign Currency Exchange Rate Determination 2004 (No. 1)

omit

Romania (Leu)

substitute

Romania (New Leu (Ron))

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8 meta-generator: Aspose.Words for .NET 20.2 title: Foreign Currency Determination 2005 (No. 3)

?xml version="1.0" encoding="utf-8" standalone="no"?>

Commonwealth of Australia

Social Security Act 1991

Social Security Foreign Currency Exchange Rate Determination 2005 (No. 3)

Dated 17 November 2005

P Phillips

Business Manager, International Branch

1 Name of determination

This determination is the Social Security Foreign Currency Exchange Rate Determination 2005 (No. 3).

2 Commencement

This determination commences on 1 December 2005.

3 Amendment of Social Security Foreign Currency Exchange Rate Determination 2004 (No. 1)

Schedule 1 amends the Social Security Foreign Currency Exchange Rate Determination 2004 (No. 1) of 18 March 2004.

Schedule 1 Amendment

(section 3)

[1] Table B of Part 4 of the Social Security Foreign Currency Exchange Rate Determination 2004 (No. 1)

omit

Romania (Leu)

substitute

Romania (New Leu (Ron))