Document ID: chunk:federal_register_of_legislation:C2004A01206:clause:1_15
Version: federal_register_of_legislation:C2004A01206
Segment Type: clause
Provision Reference: sch 1 cl 15
Character Range: 7412–8041

15  Subsection 62(7)
Repeal the subsection, substitute:

 (7) If:
 (a) the contribution is IBNR indemnity contribution; and
 (b) before the deferred payment day worked out under subsection (4), either:
 (i) the person dies; or
 (ii) the person becomes exempt because of turning a particular age;
the contribution becomes due and payable immediately after the person dies or turns that age.

 (8) If:
 (a) the contribution is enhanced UMP indemnity contribution; and
 (b) the person dies before the deferred payment day worked out under subsection (4);
the contribution becomes due and payable immediately after the person dies.