Document ID: chunk:federal_register_of_legislation:C2004A05281:clause:3_18
Version: federal_register_of_legislation:C2004A05281
Segment Type: clause
Provision Reference: sch 3 cl 18
Character Range: 35893–36796

18  Subsection 20(1AD)
Repeal the subsection, substitute:
 (1AD) The amount referred to in subsection (1AA) is calculated as follows:
 (a) if paragraph (b) does not apply to the person—the amount is worked out by using the formula:
 (b) if the person's surcharge debt account was in debit when the eligible lump sum amount became payable to the person—the amount is worked out by using the formula:
where:
parliamentary allowance at contract date means the annual amount of parliamentary allowance payable to a member at the date on which the person enters into the contract.
parliamentary allowance at retirement date means the annual amount of parliamentary allowance payable to a member at the date on which the person most recently retired from the Parliament.
surcharge deduction amount means the person's surcharge deduction amount when the eligible lump sum amount became payable to the person.