Document ID: chunk:federal_register_of_legislation:C2024A00009:clause:2_71p
Version: federal_register_of_legislation:C2024A00009
Segment Type: clause
Provision Reference: sch 2 cl 71P
Character Range: 56170–57731

71P  Reassessee dies before identification for reassessment
 (1) This section applies if:
 (a) the Operator had made a determination (the current determination) on a person's application for redress under subsection 29(2); and
 (b) the person had accepted an offer of redress in connection with the application for redress under section 42; and
 (c) the Operator subsequently identified the current determination under section 71R; and
 (d) the person had died before the Operator identified the current determination.
 (2) The Operator must reassess the current determination under this Part and make a reassessment decision as if:
 (a) the person (the reassessee) had not died; and
 (b) the reassessee had agreed, in writing, to have the Operator reassess the current determination under this Part.
 (3) If:
 (a) the reassessment decision sets aside the current determination and substitutes a new determination; and
 (b) the amount of the redress payment determined in the reassessment decision is more than the amount of the redress payment determined in the current determination;
then:
 (c) the amount of the difference is payable in accordance with section 71Q; and
 (d) for the purposes of this Act, the new determination set out in the reassessment decision is taken to be the determination made by the Operator under section 29.
 (4) The rules may prescribe matters relating to the giving of notices to a person, a participating institution, a partly‑participating institution or a funder of last resort in relation to the operation of this section.