Section 1061ZZCG — Social Security Act 1991: Calculation of amount outstanding under financial supplement contract before 1 June in the year after the year in which the contract was made

(1) The amount outstanding under a financial supplement contract at a time (the test time) before 1 June in the year immediately after the year in which the contract was made is the amount worked out using the formula: (2) For the purpose of applying the formula in subsection (1) at the test time: amounts repaid means the total of the amounts repaid under the contract before the test time. discounts means the total of the discounts to which the person became entitled before the test time. principal sum means the principal sum at the test time.