Document ID: chunk:federal_register_of_legislation:C2004C01135:clause:2_1061zzcv
Version: federal_register_of_legislation:C2004C01135
Segment Type: clause
Provision Reference: sch 2 cl 1061ZZCV
Character Range: 105804–106682

1061ZZCV  Effect of notice

 (1) If a person gives a notice referred to in section 1061ZZCU, the corporation is discharged from liability to make further payments to the person under the contract from the end of the day stated in the notice.

 (2) However, if the corporation continues to make payments to the person after that day, any amounts paid after that day or the end of 4 weeks after the day on which the notice was given to the corporation, whichever is the later:
 (a) are taken not to be payments of financial supplement made under the contract; and
 (b) are repayable by the person to the corporation; and
 (c) may be recovered by the corporation as a debt due to it by the person.

Division 2—Payments to stop if the maximum amount of financial supplement is reduced to the amount already paid or a lesser amount

Subdivision A—Notice that payments are to stop