Document ID: chunk:federal_register_of_legislation:C2010C00583:clause:11_18:p12
Version: federal_register_of_legislation:C2010C00583
Segment Type: clause
Provision Reference: sch 11 cl 18 (pt 12/18)
Character Range: 131233–134185

publishing statistical information relating to business and total use of vehicles in a State or Territory, the Australian Bureau of Statistics publishes a revised or replacement version of that statistical information, that revision or replacement is to be disregarded for the purposes of this section.

Gazettal of determinations

 (6) The Treasurer must arrange for a copy of any determination that he or she makes under subsection (2) or (3) to be published in the Gazette.

Exception

 (7) If:
 (a) this section is being applied in working out the amount of a *decreasing adjustment that arises under section 79‑15 (about sole operator elections); and
 (b) the cover under the *insurance policy concerned commenced before 1 July 2003;
the average input tax credit fraction for the *compulsory third party scheme concerned is nil for all *financial years beginning on or after 1 July 2000.

Division 80—Settlement sharing arrangements

80‑1  What this Division is about

      A series of adjustments arise if, under an arrangement, an operator of a compulsory third party scheme settles a claim, arising from one or more accidents or other incidents, covered by the arrangement and other operators are obliged to contribute payments to that operator in respect of the settlement.

Table of Subdivisions

80‑A Insurance policy settlement sharing arrangements
80‑B Nominal defendant settlement sharing arrangements
80‑C Hybrid settlement sharing arrangements

Subdivision 80‑A—Insurance policy settlement sharing arrangements

80‑5  Meaning of insurance policy settlement sharing arrangement etc.

Meaning of insurance policy settlement sharing arrangement

 (1) An insurance policy settlement sharing arrangement is an arrangement:
 (a) that relates to an accident or other incident or 2 or more related accidents or other incidents; and
 (b) to which the parties are the *operators of a *compulsory third party scheme or schemes who have issued *insurance policies to owners or drivers involved in the accidents or incidents; and
 (c) under which:
 (i) one party (the managing operator) is to make one or more payments or supplies in settlement of a claim, under the compulsory third party scheme or one of the compulsory third party schemes, relating to the accidents or incidents; and
 (ii) each other party (a contributing operator) is to make a payment to the *managing operator in respect of that operator settling the claim.

Meaning of managing operator's payment or supply

 (2) If a payment or supply mentioned in subparagraph (1)(c)(i) is not a *CTP ancillary payment or supply, it is a managing operator's payment or supply.

Meaning of contributing operator's payment

 (3) A payment mentioned in subparagraph (1)(c)(ii), to the extent that it is not a fee to the *managing operator for managing the process of making settlements under the arrangement, is a contributing operator's payment.

80‑10  Effect of becoming parties