Document ID: chunk:federal_register_of_legislation:C2021A00119:clause:1_28
Version: federal_register_of_legislation:C2021A00119
Segment Type: clause
Provision Reference: sch 1 cl 28
Character Range: 8025–10303

28  Subsection 29(2) (notes 1A, 1 and 2)
Repeal the notes, substitute:
Note 1: Subparagraph (c)(iii)—if the Operator determines under paragraph (k) that one or more funders of last resort are liable for providing redress to the person under the scheme, the amount of the Commonwealth's share of the costs of the redress payment for the person will be affected by section 165A.
Note 2: Paragraph (g)—if the Operator determines that a responsible institution is a member of a participating group, then all other members of the participating group at that time will be associates of the responsible institution, see subsection 133(3). To find the membership of a participating group at a particular time, see the declaration of the participating group under subsection 134(1) that is in force at that time.
Note 3: Paragraph (i)—only defunct institutions that are both non‑government institutions and not participating institutions can be listed under section 164 (see subsection 164(1)).
Note 4: Paragraph (i)—if the Operator determines that one or more participating government institutions are a funder of last resort for a defunct institution under paragraph (i), then those participating government institutions will be liable to pay the defunct institution's (hypothetical) share of the costs of providing redress to the person (see section 165). Those costs are in addition to the participating government institution's own share of the costs for providing redress to the person.
Note 5: Paragraph (j)—only institutions that are both non‑government institutions and not participating institutions can be listed under section 164A, 164B or 164C (see subsections 164A(1), 164B(1) and 164C(1)).
Note 6: Paragraphs (k) and (l)—if the Operator determines that one or more participating jurisdictions are a funder of last resort for an institution under paragraph (k), then those participating jurisdictions (and the Commonwealth) will be liable to pay the institution's (hypothetical) share of the costs of providing redress to the person (see section 165A).
Note 7: Paragraph (l)—the amount of the Commonwealth's share of the costs of the redress payment for the person is determined under subparagraph (c)(iii).
Note 8: For the funder of last resort provisions, see Part 6‑2.