17Accepting an offer

17 Accepting an offer

For paragraph 3(1)(j) of Schedule 3, a person who wants to lodge an effective acceptance of an offer for the payment of a resolution payment in relation to a relevant debt must do so in accordance with this section.

(2) The acceptance must: (a) be in the approved form; and (b) if there is more than one relevant debt in relation to which there is an offer, specify which offer is accepted; and (c) be signed in a manner approved by the Secretary; and (d) be lodged with the Secretary: (i) by the end of the acceptance period for the offer (or any extension of that period granted under section 16) unless the Secretary accepts the acceptance under subsection 19(3); and (ii) in accordance with any other requirements set out in the notice under section 14. (3) The acceptance must include, or be accompanied by: (a) an acknowledgement that the person understands the effect of accepting the offer; and (b) an election in the approved form about how the resolution payment should be paid or applied, taking into account subsection 18(2).