Payment of recoverable amounts by third-party debtors
49B Payment of recoverable amounts by third-party debtors
The amount that a third-party debtor for a grant recipient is required to pay under a recovery notice is—
if the amount payable by the third-party debtor to the grant recipient is equal to or less than the recoverable amount—all of the amount payable; or
if the amount payable by the third-party debtor to the grant recipient is more than the recoverable amount—the recoverable amount.
If the amount payable by the third-party debtor to the grant recipient is payable in instalments, the commissioner may require the debtor to pay the commissioner an amount out of each instalment.
A third-party debtor must pay the commissioner the amount required to be paid under a recovery notice by the later of the following:
receipt of the recovery notice;
when the amount held by the third-party debtor becomes due to the grant recipient;
the day (if any) stated by the commissioner in the recovery notice.
This Act’s bill:Explanatory statementSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.