Document ID: chunk:federal_register_of_legislation:C2024C00613:section:71n
Version: federal_register_of_legislation:C2024C00613
Segment Type: section
Provision Reference: s 71N
Character Range: 172923–174118

71N  Reassessee dies before reassessment decision is made
 (1) This section applies if:
 (a) a person (the reassessee) agrees to have the Operator reassess a current determination under section 71B; and
 (b) the reassessee dies before the Operator makes a reassessment decision under section 71D.
 (2) The Operator must continue to reassess the current determination and make a reassessment decision as if the reassessee had not died.
 (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.