Entitlement to payment of third party
62ZZG Entitlement to payment of third party
Who this section covers
This section applies to a person if:
the person may recover an amount (the recoverable amount) in accordance with a determination made by APRA under subsection 62ZZJ(4); and
the person makes a claim in relation to the recoverable amount, in the approved form (if any), within the period:
starting on the day prescribed by the regulations for the purposes of this subparagraph; and
ending on a day prescribed by the regulations for the purposes of this subparagraph or, if APRA specifies a later day, that later day; and
the person is not covered by a determination under section 62ZZ.
Recoverable amounts less than $5,000
The person is entitled to be paid by APRA an amount equal to the recoverable amount if APRA determines that the recoverable amount is less than $5,000.
Section 62ZZJ requires APRA to determine not only whether it is satisfied the person could recover under various provisions but also the amount the person could recover.
Recoverable amounts of $5,000 or more
The person is entitled to be paid by APRA an amount equal to the recoverable amount if APRA determines that:
the recoverable amount is $5,000 or more; and
the person meets the conditions prescribed by the regulations for the purposes of this paragraph.
Section 62ZZJ requires APRA to determine not only whether it is satisfied the person could recover under various provisions but also the amount the person could recover.
Section 62ZZJ requires APRA to determine whether the person meets the prescribed conditions, if the person applies for the determination.
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