14Offer

14 Offer

(1) For subparagraph 3(1)(h)(iv) and paragraph 3(1)(i) of Schedule 3, if a decision is made under section 12 or 13 that a person is entitled to a resolution payment in relation to a particular relevant debt, the Secretary must, by written notice to the person, make an offer to pay the resolution payment in the amount determined in relation to the debt under section 9. (2) The notice must do the following:

specify the date of the offer;
if the person’s application under section 10 relates to more than one relevant debt, specify the particular relevant debt to which the offer relates;

(c) include the decision that the person is entitled to be paid the resolution payment and explain the reasons for the decision;
(d) include the amount of the resolution payment and the reasons for the determination of that amount;
(e) set out the options for the payment of the resolution payment, which may include how a resolution payment may be applied to reduce the outstanding amount of another debt of the person due to the Commonwealth under a prescribed Act;
(f) inform the person that they may consider obtaining independent advice about whether or not to accept the offer;
(g) explain how to accept or reject the offer;
(h) inform the person that the offer is only open for acceptance for the period of 56 days from the date of the offer (the acceptance period), unless the person is granted an extension of the acceptance period;
(i) explain the effect of the effective acceptance of the offer to be paid the resolution payment, as provided by subitem 2(5) of Schedule 3 or, if an agent is acting on behalf of the person, as provided by subitem 2(6) of Schedule 3;
(j) inform the person that they do not have to accept the offer and that, if the person does not accept the offer by the end of the acceptance period, the offer will expire and be taken to be rejected at that time unless the person is granted an extension of the acceptance period;
(k) inform the person that they may apply for an extension of the acceptance period and explain how to make that application;
(l) inform the person that they may apply for a review of the amount of the resolution payment within 56 days from the date of the offer and explain how to make that application;
(m) inform the person that they may only make one application for a resolution payment in respect of a particular relevant debt.

Note: For the purposes of paragraph (l), requirements for an application for internal review are set out in section 21.

(3) Subsection (2) does not limit the matters that may be dealt with or included in the notice.

Note: For example, if an application relates to more than one relevant debt, the notice may include offers in relation to more than one debt.