Document ID: chunk:federal_register_of_legislation:C2024A00104:section:317
Version: federal_register_of_legislation:C2024A00104
Segment Type: section
Provision Reference: s 317
Character Range: 501953–503514

317  Varying or revoking individual contribution rate determination following certain social security decisions
 (1) This section applies if:
 (a) an individual contribution rate determination is in force for an individual; and
 (b) the System Governor is satisfied that:
 (i) a decision under the social security law (within the meaning of the Social Security Act 1991) has been made; and
 (ii) any requirements prescribed by the rules are met.
 (2) The System Governor must consider the decision and decide, within the period prescribed by the rules, whether the determination is no longer correct because of the decision.
 (3) If the System Governor decides that the determination is no longer correct because of the decision, the System Governor must:
 (a) vary the determination; or
 (b) revoke the determination and make a new individual contribution rate determination for the individual.

Effect of decision
 (4) Subject to subsection (5), the variation or new determination takes effect:
 (a) if the variation or new determination results in an increase to the individual contribution rate—at the start of the day after the end of the quarter in which it is made; or
 (b) if the variation or new determination results in a decrease to the individual contribution rate—at the start of the day on which it is made.
 (5) The rules may prescribe that, in specified circumstances, the variation or new determination takes effect on a specified day (which must not be earlier than the day the System Governor is satisfied as mentioned in paragraph (1)(b)).