Document ID: chunk:federal_register_of_legislation:C2010C00233:clause:5_10
Version: federal_register_of_legislation:C2010C00233
Segment Type: clause
Provision Reference: sch 5 cl 10
Character Range: 189964–190682

10  Subclause 24C(2) of Schedule 1 (method statement, step 1)
Repeal the step, substitute:

           Step 1. Work out the daily cap for each relevant balance as follows:

                (a) work out the annualised amount mentioned in paragraph 24D(1)(a) that is due in the income year from the registered entitlement to which the balance relates;
                (b) work out under subclause (4) the annualised amount of maintenance income received in the income year from that registered entitlement;
                (c) the daily cap is the excess of the amount mentioned in paragraph (a) over the amount mentioned in paragraph (b), divided by 365 and rounded to the nearest cent (rounding 0.5 cents upwards).