Document ID: chunk:federal_register_of_legislation:C2024C00653:section:33m
Version: federal_register_of_legislation:C2024C00653
Segment Type: section
Provision Reference: s 33M
Character Range: 87593–88861

33M  Interest not payable on advance payments
 (1) If:
 (a) a compensation payer or insurer makes an advance payment to the Commonwealth of the amount of compensation payable under a judgment or settlement; and
 (b) an Australian law would, apart from this section, make the Commonwealth liable to pay interest on the advance payment, because the advance payment has been retained by the Commonwealth after the judgment or settlement has been made;
despite that law, the Commonwealth is not liable to pay that interest.
 (2) If the Commonwealth is required to make a payment under section 33H or 33K, subsection (1) does not apply after the expiry of the period within which the payment must be made.
 (3) If:
 (a) a compensation payer or insurer makes an advance payment to the Commonwealth of the amount of compensation payable under a judgment or settlement; and
 (b) an Australian law would, apart from this section, make the compensation payer or insurer liable to pay interest on the advance payment, because the advance payment has not been paid to the compensable person after the judgment or settlement has been made;
despite that law, the compensation payer or insurer is not liable to pay that interest.

Division 3—Waiver of the requirements of this Part