Document ID: chunk:federal_register_of_legislation:C2024C00651:clause:1_10
Version: federal_register_of_legislation:C2024C00651
Segment Type: clause
Provision Reference: sch 1 cl 10
Character Range: 226170–226829

10  Provision applying instead of subsection 18(8AA)
 (1) Subsection 18(8AA) does not apply in relation to the preserved basic allowance. Instead, subclause (2) of this clause applies.
 (2) If the person's surcharge debt account is in debit at the end of a new scheme contribution period of the person, there is taken to have arisen, at the end of that period, a notional adjustment debit of the person equal to the amount worked out using the formula:

where:
conversion factor means the factor applicable to the person under the determination made by the Trust under section 22A.
surcharge deduction amount means the person's surcharge deduction amount.