5   Prescribed amount

(1)  For the purposes of the definition of prescribed amount in section 31MAA (1) of the Act, the amount prescribed in lieu of the amount specified in that definition is the amount calculated by multiplying the maximum fortnightly age pension by 65.

Note. Multiplying a fortnightly age pension by 65 is the equivalent, providing that the amount of the pension does not change, of multiplying the annual age pension by 2.5

(2)  In this clause, a reference to the maximum fortnightly age pension is a reference to the maximum fortnightly rate at which an age pension is from time to time payable, under the Social Security Act 1991 of the Commonwealth, to a person who is not a member of a couple.