Document ID: chunk:federal_register_of_legislation:C2004C01250:clause:1_37
Version: federal_register_of_legislation:C2004C01250
Segment Type: clause
Provision Reference: sch 1 cl 37
Character Range: 25218–25794

37  After subsection 15(6)
Insert:

 (6AA) If:
 (a) a payment split applies to a splittable payment in respect of an interest that a person has as a member; and
 (b) the splittable payment becomes payable in circumstances where the member's surcharge account is in debit;
then the member is liable to pay to the Commissioner the lesser of:
 (c) the amount by which the account is in debit; and
 (d) 15% of the employer‑financed component of that part of the benefits that would have been payable to the member but for the payment split and that accrued after 20 August 1996.