316Varying or revoking an individual contribution rate determination

316  Varying or revoking an individual contribution rate determination

 (1) The System Governor may:

 (a) vary an individual contribution rate determination (the old determination) for an individual; or

 (b) revoke the old determination and make a new individual contribution rate determination for the individual.

Note: For when a variation or revocation of an income determination takes effect, see sections 317, 318 and 318A.

 (2) The System Governor must vary the old determination:

 (a) following the making of certain social security decisions (see section 317); and

 (b) if an event or a change in the individual’s circumstances occurs (see section 318).

 (2A) The System Governor may revoke the old determination and make a new individual contribution rate determination for the individual if the System Governor is satisfied that the old determination is incorrect (see section 318A).

 (2B) This section does not limit the application of subsection 33(3) of the Acts Interpretation Act 1901 in relation to an individual contribution rate determination.

 (3) The System Governor must give notice of a decision under subsection (1) to the individual within 14 days after the decision is made.

 (a) state that the individual may be required to notify the System Governor of any events or changes in the individual’s circumstances in accordance with rules made for the purposes of subsection 315(1); and

 (b) if the decision is to vary the old determination—include details of the variation (including specifying the individual contribution rate, as varied, for the individual for each means testing category); and

 (c) if the decision is to revoke the old determination and make a new individual contribution rate determination—specify the day the new determination is in force; and

 (d) set out the reasons for the decision; and

 (e) state how the individual may apply for reconsideration of the decision; and