7
In forceAdjustments to contribution target for 2017/2018 financial year
Schedule 2Savings, transitional and other provisions
Part 2Provisions consequent on enactment of this Act
7 Adjustments to contribution target for 2017/2018 financial year
(1)
The Treasurer is to subtract the amount of $6,854,100 from the contribution target calculated under Part 4 for the 2017/2018 financial year only (this amount being the cost of the Monitor previously recovered from insurers).
(2)
There is no recovered over-collection amount for the 2017/2018 financial year. Accordingly, Ot is not to be deducted from the contribution target for that financial year and section 24 (2) is to be disregarded.
This Act’s bill:Explanatory memorandumSecond reading speech
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