Section 1209ZB — Social Security Act 1991: Transfers by the immediate family members prior to reaching pension age etc.

(1) If: (a) an immediate family member of the principal beneficiary of a special disability trust transfers an asset to the trust; and (b) at the time of the transfer, neither the immediate family member nor the partner of the immediate family member is a person who: (i) is receiving a social security pension and has reached pension age; or (ii) is receiving a service pension and has reached pension age within the meaning of the Veterans’ Entitlements Act; or (iii) is receiving income support supplement and has reached qualifying age within the meaning of section 5Q of the Veterans’ Entitlements Act; or (iv) is receiving a veteran payment and has reached pension age; the immediate family member is taken for the purposes of this Division only to transfer the asset to the trust at the earliest time at which subparagraph (b)(i), (ii), (iii) or (iv) applies to the immediate family member or partner. Note 1: For immediate family member, see subsection 23(1). Note 2: For special disability trust, see section 1209L. Note 3: For pension age (except for the purposes of subparagraph (1)(b)(ii) of this section), see subsections 23(5A) to (5D). Note 4: For social security pension, service pension and income support supplement, see subsection 23(1). (2) However, if under subsection (1) transfers of assets to the trust by different immediate family members are taken to have been made on the same day, the transfers are taken to have been made on that day in the order in which they would have been taken to be made but for this Division. Note: For immediate family member, see subsection 23(1). (3) This section does not affect the operation of Part 3.12 or any other provision of this Act outside of this Division.