Document ID: chunk:federal_register_of_legislation:C2004A04197:body:0:p10
Version: federal_register_of_legislation:C2004A04197
Segment Type: other
Provision Reference: 
Character Range: 23608–26319

the principal officer of the Commonwealth authority, to which the variation relates of the approval; and

    (b)     the premium of the Department or authority is taken to be the varied amount as so approved by the Minister; and

    (c)     the Minister may vary any direction given under paragraph 96g (2) (c) in relation to the premium in such a manner as the Minister thinks necessary.

"(6) A variation of an estimate has no effect unless and until it is approved by the Minister under this section.

  "(7) Where:

    (a)     an amount equal to the premium of a Department or Commonwealth authority for a financial year has been paid into, or transferred within, the Consolidated Revenue Fund in accordance with a direction of the Minister; and

    (b)     the amount of the premium is later reduced as a result of a variation under this section;

the Department or authority is entitled to an amount equal to the difference between the amount so paid or transferred and the reduced amount.
"(8) An amount to which a Department or authority is entitled under subsection (7) must, as the case requires, be:

    (a)     paid out of the Consolidated Revenue Fund, which is appropriated accordingly; or

    (b)     transferred within that Fund in accordance with the directions of the Minister.

Discounts and surcharges

"96j. (1) A premium may be discounted by such amount as the Commission thinks appropriate where the whole or part of the premium (less the amount of the discount) is paid or transferred before the day on which that payment or transfer must be made under a direction by the Minister, or such a direction as varied.

"(2) Subject to this section, the Commission may, by notice in writing, require a Department or a Commonwealth authority to pay a surcharge in relation to a financial year where:

    (a)     the premium of the Department or authority for that financial year is paid or transferred after 30 September in that year; or

  (b)     the premium is paid or transferred by instalments.

  "(3) Subsection (2) does not apply where:

    (a)     the payment or transfer of a premium was made in accordance with the manner, and at the time or times, described in a notice given to the Commission under subsection 96k (1); and

    (b)    the Commission had notified the Secretary to the relevant Department, or the principal officer of the relevant Commonwealth authority, under subsection 96k (2) that no surcharge would be payable if the premium were so paid or transferred.

"(4) The Commission may require a surcharge to be paid as a single amount, or at a rate, determined by the Commission.

"(5) Where the Commission has specified an amount or rate in a notice relating