33BAdvance payments

33B Advance payments

(1) A compensation payer or insurer may make an advance payment to the Commonwealth in respect of the compensation payable under a judgment or settlement if: (a) during the 6 months preceding the day on which an amount of compensation was fixed under the judgment or settlement, a notice under section 21 had not been given; and (b) a notice under section 23 has been given indicating that the compensation payer or insurer intends to make an advance payment; and (c) a notice under section 33A has been given; and (d) the amount of the compensation payable under the judgment or settlement is not a small amount.

Note: For small amount see section 38.

(2) The advance payment must be an amount equal to 10%, or such other percentage as the Minister determines under subsection (4), of the amount of compensation payable under the judgment or settlement. (2A) A determination under subsection (4) may: (a) identify different amounts, or ranges of amounts, of compensation payable; and (b) set different percentages for any one or more of those amounts, or ranges of amounts. (3) The advance payment must be made: (a) if the judgment or settlement was made after the commencement of this Division—within 28 days after the judgment or settlement was made; or (b) if the judgment or settlement was made before that commencement—within 28 days after that commencement. (4) The Minister may, by legislative instrument, make a determination for the purposes of subsection (2).