62ZZGEntitlement to payment of third party

62ZZG Entitlement to payment of third party

Who this section covers (1) This section applies to a person if: (a) the person may recover an amount (the recoverable amount) in accordance with a determination made by APRA under subsection 62ZZJ(4); and (aa) the person makes a claim in relation to the recoverable amount, in the approved form (if any), within the period: (i) starting on the day prescribed by the regulations for the purposes of this subparagraph; and (ii) ending on a day prescribed by the regulations for the purposes of this subparagraph or, if APRA specifies a later day, that later day; and (b) the person is not covered by a determination under section 62ZZ. Recoverable amounts less than $5,000 (2) The person is entitled to be paid by APRA an amount equal to the recoverable amount if APRA determines that the recoverable amount is less than $5,000.

Note: Section 62ZZJ requires APRA to determine not only whether it is satisfied the person could recover under various provisions but also the amount the person could recover.

Recoverable amounts of $5,000 or more (3) The person is entitled to be paid by APRA an amount equal to the recoverable amount if APRA determines that: (a) the recoverable amount is $5,000 or more; and (b) the person meets the conditions prescribed by the regulations for the purposes of this paragraph.

Note 1: Section 62ZZJ requires APRA to determine not only whether it is satisfied the person could recover under various provisions but also the amount the person could recover.

Note 2: Section 62ZZJ requires APRA to determine whether the person meets the prescribed conditions, if the person applies for the determination.