Document ID: chunk:federal_register_of_legislation:C2008A00140:clause:1_13a
Version: federal_register_of_legislation:C2008A00140
Segment Type: clause
Provision Reference: sch 1 cl 13A
Character Range: 65551–68047

13A  Additional refund declaration where refund by approved provider or former approved provider void or voidable

 (1) This section applies if:
 (a) a person who is or has been an approved provider (an approved provider or former approved provider) refunds part of the bond balance in relation to a bond (the initial refund); and
 (b) after the initial refund, the Secretary, under paragraph 12(2)(b), determines in respect of the outstanding bond balance of the approved provider or former approved provider in relation to the bond, the amount that the Secretary considers is equal to the amount of the bond balance that has not been refunded at the time the Secretary makes the determination; and
 (c) a refund declaration is made under section 13 in reliance on that determination; and
 (d) in a case where the approved provider or former approved provider is a corporation:
 (i) a transaction under which the initial refund took place is a voidable transaction under subsection 588FE(2), (2A) or (2B) of the Corporations Act 2001; and
 (ii) the liquidator takes action, including but not limited to the making of an application under section 588FF of that Act, as a result of which the person to whom the initial refund was made does not retain the value of the initial refund, or part of the value of the initial refund; and
 (e) in a case where the approved provider or former approved provider is not a corporation:
 (i) a transfer of any property for the purposes of giving the initial refund is void under section 122 of the Bankruptcy Act 1966; and
 (ii) the trustee in bankruptcy takes action as a result of which the person to whom the initial refund was made does not retain the value of the initial refund, or part of the value of the initial refund.

 (2) The Secretary may:
 (a) determine the amount that the Secretary considers is equal to the amount of the value of the initial refund that has not been retained by the person to whom it was made; and
 (b) as soon as practicable after the Secretary has determined that matter, make another refund declaration relating to the outstanding bond balance.

 (3) The refund declaration must:
 (a) be in writing; and
 (b) specify the approved provider or former approved provider who has not refunded all, or part, of the relevant outstanding bond balance; and
 (c) declare that the Commonwealth is to pay an amount equal to the amount determined under paragraph (2)(a).

 (4) The refund declaration is not a legislative instrument.