Document ID: chunk:federal_register_of_legislation:F2025C00180:reg:67:p1
Version: federal_register_of_legislation:F2025C00180
Segment Type: reg
Provision Reference: reg 67 (pt 1/2)
Character Range: 113472–116181

67  Institution's contribution to costs of administration of scheme for quarter
 (1) For the purposes of subsection 152(2) of the Act, an institution's contribution to the costs of the administration of the scheme for a quarter must be determined in accordance with this section.
 (2) The institution's contribution is the sum of:
 (a) 7.5% of the total of the institution's gross liability amounts worked out under step 2 of the redress payment method statement in relation to redress payments to which persons become entitled in the quarter or, if that percentage of the total is not a whole number of cents, that percentage of the total rounded up to the next whole number of cents; and
 (b) the total of the amounts that are:
 (i) worked out using the formula in subsection (3) of this section for every such redress payment for which the institution has such a gross liability amount; and
 (ii) if an amount worked out using that formula is not a whole number of cents—rounded up to the next whole number of cents.
 (3) The formula is as follows:
Note 1: An institution is a liable participating institution for the redress payment even if the amount of the institution's share of the costs of the redress payment is nil because of steps 3 to 6 of the redress payment method statement (which reduce the institution's gross liability amount for the payment by amounts worked out by reference to relevant prior payments made by, or on behalf of, the institution in relation to abuse of the person entitled to the redress payment).
Note 2: The result of the formula will be $1,000 if the institution is the only liable participating institution for the redress payment.

Special rules for funder of last resort cases
 (4) Subsection (5) of this section applies in relation to a redress payment for abuse of a person if the Operator has made a determination under paragraphs 29(2)(i) to (m) of the Act that a participating government institution is the funder of last resort for a defunct institution, partly‑participating institution or institution listed under section 164C of the Act in relation to the abuse.
 (5) Subsections (2) and (3) of this section apply, in relation to every institution that the Operator has determined under paragraphs 29(2)(b), and (i) to (m) of the Act is responsible for the abuse of the person, as if:
 (a) the defunct institution, partly‑participating institution or institution listed under section 164C of the Act were a liable participating institution; and
 (b) the defunct institution's, partly‑participating institution's or institution listed under section 164C of the Act's gross liability amount were the amount worked out under step 2 of the redress payment method