Document ID: chunk:federal_register_of_legislation:F2021C00206:reg:29
Version: federal_register_of_legislation:F2021C00206
Segment Type: reg
Provision Reference: reg 29
Character Range: 50186–51288

29  Minimum amounts
 (1) A reference in this section to the amount falling due under an agreement in respect of a day is a reference to the amount ascertained by dividing the amount of the payment that next falls due after that day under the agreement (excluding any arrears) by the number of days in the period:
 (a) commencing on the day on which the immediately previous payment under the agreement fell due; and
 (b) ending on the day on which that next payment falls due.
 (2) The minimum amount in respect of a claim made under a contract referred to in section 27, being a claim that arises as mentioned in column 1 of an item of the following table, is declared to be the amount ascertained in accordance with column 2 of the item, reduced by an amount equal to the amount so payable in respect of the first 14 days of the period during which the insured person is disabled.

Minimum amounts
Item             Column 1                                                                Column 2
                 Description of claim                                                    Minimum amount