Document ID: chunk:federal_register_of_legislation:C2004A00861:clause:1_31
Version: federal_register_of_legislation:C2004A00861
Segment Type: clause
Provision Reference: sch 1 cl 31
Character Range: 24323–25163

31  After subclause 52(1) of Schedule 2
Insert:

 (1A) For the purposes of subclause (1), eligible entity has the same meaning as in clause 21.

SDA scheme

 (1B) If:
 (a) an entity (the first entity) has given the DAA an undertaking to assign a unit in a payment right under the SDA scheme to an eligible entity as mentioned in paragraph 37N(3)(b); and
 (b) the first entity breaches the undertaking; and
 (c) the DAA gives the first entity a written notice directing the first entity to comply with the undertaking before the end of the period of 60 days beginning when the direction is given; and
 (d) the first entity contravenes the direction;
the SDA scheme must authorise the DAA to cancel the unit.

 (1C) For the purposes of subclause (1B), eligible entity has the same meaning as in clause 37N.

When cancellation takes effect