Making of refund costs recoupment determination
18 Making of refund costs recoupment determination
The Minister may, at a particular time, make a refund costs recoupment determination relating to one or more refund declarations if:
before that time, the Minister has informed the Treasurer and the Finance Minister that the Minister intends to make a refund costs recoupment determination relating to those refund declarations; and
at that time, the Commonwealth has not recovered all of each refund amount in relation to those refund declarations; and
at that time, the Commonwealth has not previously made a refund costs recoupment determination relating to each of those refund declarations.
A refund costs recoupment determination must:
be in writing; and
specify the refund declarations to which the determination relates; and
specify the costs recoupment amount (see subsection (3)); and
specify the default event declaration to which the determination relates (see subsection (4)).
The costs recoupment amount specified in a refund costs recoupment determination is the amount equal to the sum of each refund amount that:
is specified in a refund declaration specified in the determination; and
has not been recovered by the Commonwealth at the time the determination is made.
A default event declaration is a default event declaration to which a refund costs recoupment determination relates if the making of the default event declaration was a precondition of the making of the refund declarations specified in the refund costs recoupment determination.
A refund costs recoupment determination is not a legislative instrument.
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.