Document ID: chunk:federal_register_of_legislation:C2022A00014:clause:4_1100za:p2
Version: federal_register_of_legislation:C2022A00014
Segment Type: clause
Provision Reference: sch 4 cl 1100ZA (pt 2/2)
Character Range: 60268–61861

remuneration received in the current period by the participant, to the extent the remuneration was conditional on the achievement of objectives; and
 (d) if the current period is not the first 12‑month period—the sum of any amount carried forward under subsection (7) for each previous 12‑month period that started:
 (i) at or after the start of the first 12‑month period; and
 (ii) not earlier than 4 years before the start of the current period.
 (6) The amount (the basic cap amount) is:
 (a) unless paragraph (b) applies—$30,000; or
 (b) if an amount is prescribed in the regulations for the purposes of this paragraph—that amount.

Carry‑forward of unused cap
 (7) If the amount worked out for a 12‑month period by:
 (a) starting with the lesser of:
 (i) the basic cap amount; and
 (ii) the amount that would be worked out under subsection (3) and in accordance with subsection (4), if the only amounts included were amounts payable on the exercise of options and incentive rights; and
 (b) subtracting the total amount paid in the 12‑month period by the participant and each related person under the terms of any offer made in connection with any employee share scheme operated by the body corporate or an associate of the body corporate on the exercise of options and incentive rights;
is greater than nil, then that amount is carried forward for the purposes of paragraph (5)(d).

Regulations may provide other ways of complying with this section
 (8) An offer also complies with this section if the offer is of a kind prescribed by the regulations for the purposes of this subsection.