Crimes Legislation Amendment (Economic Disruption) Act 2021 (3 of 2021)

Schedule 3   Buy-backs

Part 1   Amendments

Proceeds of Crime Act 2002

11   At the end of section 202

Add:

(7) For the purposes of this section, it is immaterial whether the loan mentioned in subparagraph (5)(ec)(ii) was made under an arrangement entered into before or after the making of the application mentioned in paragraph (5)(ec).

(8) For the purposes of this section, it is immaterial whether the loan mentioned in subparagraph (5)(ed)(ii) was made under an arrangement entered into before or after the making of the application mentioned in paragraph (5)(ed).

(9) For the purposes of this section, loan includes anything that may reasonably be regarded as equivalent to a loan, and borrow has a corresponding meaning.

(10) For the purposes of this section, each of the following are eligible living expenses of a person:

(a) the person's reasonable living expenses;

(b) the reasonable living expenses of any of the *dependants of the person;

(c) the reasonable business expenses of the person.

(11) For the purposes of this section, an eligible debt of a person is a debt incurred in good faith by the person.