Document ID: chunk:federal_register_of_legislation:C2004A01310:clause:1_34zw
Version: federal_register_of_legislation:C2004A01310
Segment Type: clause
Provision Reference: sch 1 cl 34ZW
Character Range: 43230–44646

34ZW  Reports on the run‑off cover indemnity scheme

 (1) The Minister must, in relation to each financial year starting on or after 1 July 2004:
 (a) cause a report to be prepared of the operation of this Division within 6 months after the end of the financial year; and
 (b) cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of that House after its receipt by the Minister.

 (2) Without limiting the matters that may be included in a report under subsection (1) in relation to a financial year, the report must include:
 (a) a statement of the number of persons who were, at the end of the financial year, persons to whom subsection 34ZB(2) applies; and
 (b) a statement of the total of all the amounts of run‑off cover indemnity, and amounts payable under the Run‑off Cover Claims and Administration Protocol, paid by the Commonwealth during the financial year; and
 (c) a statement of the total of all the amounts of run‑off cover support payments paid to the Commonwealth during the financial year; and
 (d) estimates by the Actuary of the Commonwealth's liabilities under this Division in future financial years.

 (3) If a termination date for the run‑off cover indemnity scheme has been set (see subsection 34ZB(3)), this section does not apply in relation to a financial year starting after the end of the financial year in which the termination date occurs.