Document ID: chunk:federal_register_of_legislation:C2010C00151:clause:7_6
Version: federal_register_of_legislation:C2010C00151
Segment Type: clause
Provision Reference: sch 7 cl 6
Character Range: 402747–403656

6  At the end of section 71A
Add:

 (2) If:
 (a) the application referred to in paragraph (1)(b) specifies that the amount, or part of the amount, received by the third party is to be credited against the liability in relation to a specified percentage that is less than 100% of the amount payable under the liability; and
 (b) the Registrar is satisfied that the payer and the payee agree that the amount received is to be credited against the liability in relation to that percentage of the amount, or the part of the amount, payable under the liability;
then the Registrar must credit the amount received against the liability in relation to that percentage of the amount, or the part of the amount, payable under the liability.

 (3) Otherwise, the Registrar must credit the amount received against the liability in relation to 100% of the amount, or the part of the amount, payable under the liability.