Document ID: chunk:federal_register_of_legislation:C2024A00009:clause:2_71l:p1
Version: federal_register_of_legislation:C2024A00009
Segment Type: clause
Provision Reference: sch 2 cl 71L (pt 1/2)
Character Range: 50073–52972

71L  Notice to institutions and participating jurisdictions that new offer is accepted
 (1) This section applies if the reassessee accepts the new offer of redress under section 42 (as it applies in relation to the new offer of redress because of section 71H).
 (2) The Operator must give each institution that was notified under paragraph 71B(4)(a) or (c) a written notice (the reassessment notice) that:
 (a) states the matters set out in paragraphs 35(2)(b) to (f); and
 (b) if the institution was previously notified under this section or section 35 in relation to the reassessee—states:
 (i) the amounts mentioned in subparagraphs 35(2)(b)(ii) to (v) of the most recent previous notification and the amounts paid by the institution in relation to that notification; and
 (ii) the difference in the amounts mentioned in subparagraphs 35(2)(b)(ii) to (v) between the reassessment notice and the most recent previous notification; and
 (iii) the amount of the institution's liability, or the amount that is to be credited to the institution, in relation to the reassessee (worked out in accordance with Division 7); and
 (c) states the components of redress that the reassessee wishes to receive (including whether the reassessee wishes to receive a direct personal response from the institution); and
 (d) is accompanied by a copy of the reassessee's acceptance document; and
 (e) complies with any requirements prescribed by the rules.
Note: In relation to paragraph (c), see subsection 71J(3).
 (3) The Operator must give each participating jurisdiction (if any) that was notified under paragraph 71B(4)(b) or (d) a written notice (the reassessment notice) that:
 (a) states the matters set out in paragraphs 35A(2)(b) to (k); and
 (b) if the participating jurisdiction has previously been notified under this section or section 35A in relation to the reassessee—states:
 (i) the amounts mentioned in paragraphs 35A(2)(c) to (i) of the most recent previous notification and the amounts paid by the jurisdiction in relation to that notification; and
 (ii) the difference in the amounts mentioned in paragraphs 35A(2)(c) to (i) as between the reassessment notice and the most recent previous notification; and
 (iii) the amount of the jurisdiction's liability, or the amount that is to be credited to the jurisdiction, in relation to the reassessee (worked out in accordance with Division 7); and
 (c) complies with any requirements prescribed by the rules.
 (4) If:
 (a) the new offer of redress specified an institution under subparagraph 39(ia)(i), and a funder of last resort for the institution under subparagraph 39(ia)(ii); and
 (b) the institution is a partly‑participating institution;
the Operator must give the institution a written notice that:
 (c) states the matters set out in paragraphs 46B(2)(a) and (b); and
 (d) states whether the reassessee wishes to receive a direct personal