Document ID: chunk:federal_register_of_legislation:C2004C01135:clause:2_1061zzdb
Version: federal_register_of_legislation:C2004C01135
Segment Type: clause
Provision Reference: sch 2 cl 1061ZZDB
Character Range: 111337–112438

1061ZZDB  Transfer of corporation's rights to Commonwealth

 (1) On the giving of the notice to the corporation, the corporation's rights referred to in subsection (2) or (3), as the case may be, are transferred to the Commonwealth by this subsection.

 (2) If the notice was given under subsection 1061ZZCZ(1), the rights transferred are the corporation's rights under the contract that relate to payment of financial supplement during the period:
 (a) beginning at the end of the period referred to in paragraph 1061ZZCZ(1)(b); and
 (b) ending at the end of the period of 4 weeks referred to in subsection 1061ZZCX(3).

 (3) If the notice was given under subsection 1061ZZCZ(2), the rights transferred are the corporation's rights under the contract that relate to payment of financial supplement during the period:
 (a) beginning at the commencement of this Chapter; and
 (b) ending at the end of the period of 4 weeks referred to in subsection 1061ZZCX(3).

 (4) Financial supplement paid during the period referred to in subsection (2) or (3), as the case requires, is wrongly paid supplement.