sec.103Option to elect for particular authorities if annual review process not finished before the commencement

sec.103 Option to elect for particular authorities if annual review process not finished before the commencement

This section applies if— before the commencement, the scheme manager had started, but not finished, the annual review process for an authority; and on the commencement— the estimated rehabilitation cost for the authority is equal to or more than $100,000 but less than $10m; and the authority is allocated to the risk category of very low, low or moderate. On the commencement, the annual review process stops. The scheme manager must, within 10 business days after the commencement, give the holder a notice stating— that the holder may elect for the authority to be subject to risk category allocation under part 3, division 1; and that the holder may make the election within 20 business days after the notice is given to the holder. The holder may elect for the authority to be subject to risk category allocation under new part 3, division 1 by giving the scheme manager notice of the election within the period mentioned in subsection (3)(b). If the holder gives the scheme manager a notice under subsection (4) within the period mentioned in subsection (3)(b), the scheme manager must give the holder a notice stating— the day the notice is given; and the authority to which the notice relates; and that the authority is subject to risk category allocation under part 3, division 1. A notice given under subsection (5) is taken to be an election notice for the authority under new part 3, division 1A. If the scheme manager gives the holder a notice under subsection (5)— the balance of the annual review process restarts as if the amendment Act had not been enacted; and the scheme manager must— decide the annual review allocation day for the authority; and give the holder notice of the decision before or when the notice mentioned in former section 41 is given to the holder. The annual review allocation day takes effect on the relevant anniversary day for the authority. New section 38(3) does not apply to an annual review allocation day that is within 9 months after the relevant anniversary day for the authority. For restarting the annual review process under subsection (7)(a), if a period mentioned in former section 39 had started but not ended before the commencement, the period is extended by the period— starting on the commencement; and ending at the end of the period mentioned in subsection (3)(b). Despite subsection (7)(a) and former section 41(d), a notice given under former section 41 must state the amount of the contribution to the scheme fund, or surety, required under new part 3, division 2 in relation to the authority, and when the amount must be paid or given under the new division. The annual review allocation decided for the authority under the annual review process is taken to be an annual review allocation for the authority under new section 38. The day the annual review allocation is decided under the annual review process is taken to be the annual review day for the authority under new section 41(a). To the extent new part 3, division 2, subdivision 1 applies in relation to the annual review decision, a reference in new sections 47 and 49 to the current review day is taken to be a reference to the relevant anniversary day for the authority. If the holder does not give the scheme manager a notice under subsection (4) within the period mentioned in subsection (3)(b)— the review process ends; and the scheme manager must give the holder a notice stating— that the review process has ended; and that part 3, division 2, subdivision 2 applies in relation to the authority; and new part 3, division 2, subdivision 2 applies in relation to the authority as if— the matters mentioned in new section 53(f) applied in relation to the authority; and new section 55A required the surety for the authority to be given within 30 business days after the later of the following— the relevant anniversary day; or the day the period mentioned in subsection (3)(b) ends. s 103 ins 2024 No. 33 s 129 (sec.103-ssec.1) This section applies if— before the commencement, the scheme manager had started, but not finished, the annual review process for an authority; and on the commencement— the estimated rehabilitation cost for the authority is equal to or more than $100,000 but less than $10m; and the authority is allocated to the risk category of very low, low or moderate. (sec.103-ssec.2) On the commencement, the annual review process stops. (sec.103-ssec.3) The scheme manager must, within 10 business days after the commencement, give the holder a notice stating— that the holder may elect for the authority to be subject to risk category allocation under part 3, division 1; and that the holder may make the election within 20 business days after the notice is given to the holder. (sec.103-ssec.4) The holder may elect for the authority to be subject to risk category allocation under new part 3, division 1 by giving the scheme manager notice of the election within the period mentioned in subsection (3)(b). (sec.103-ssec.5) If the holder gives the scheme manager a notice under subsection (4) within the period mentioned in subsection (3)(b), the scheme manager must give the holder a notice stating— the day the notice is given; and the authority to which the notice relates; and that the authority is subject to risk category allocation under part 3, division 1. (sec.103-ssec.6) A notice given under subsection (5) is taken to be an election notice for the authority under new part 3, division 1A. (sec.103-ssec.7) If the scheme manager gives the holder a notice under subsection (5)— the balance of the annual review process restarts as if the amendment Act had not been enacted; and the scheme manager must— decide the annual review allocation day for the authority; and give the holder notice of the decision before or when the notice mentioned in former section 41 is given to the holder. (sec.103-ssec.8) The annual review allocation day takes effect on the relevant anniversary day for the authority. (sec.103-ssec.9) New section 38(3) does not apply to an annual review allocation day that is within 9 months after the relevant anniversary day for the authority. (sec.103-ssec.10) For restarting the annual review process under subsection (7)(a), if a period mentioned in former section 39 had started but not ended before the commencement, the period is extended by the period— starting on the commencement; and ending at the end of the period mentioned in subsection (3)(b). (sec.103-ssec.11) Despite subsection (7)(a) and former section 41(d), a notice given under former section 41 must state the amount of the contribution to the scheme fund, or surety, required under new part 3, division 2 in relation to the authority, and when the amount must be paid or given under the new division. (sec.103-ssec.12) The annual review allocation decided for the authority under the annual review process is taken to be an annual review allocation for the authority under new section 38. (sec.103-ssec.13) The day the annual review allocation is decided under the annual review process is taken to be the annual review day for the authority under new section 41(a). (sec.103-ssec.14) To the extent new part 3, division 2, subdivision 1 applies in relation to the annual review decision, a reference in new sections 47 and 49 to the current review day is taken to be a reference to the relevant anniversary day for the authority. (sec.103-ssec.15) If the holder does not give the scheme manager a notice under subsection (4) within the period mentioned in subsection (3)(b)— the review process ends; and the scheme manager must give the holder a notice stating— that the review process has ended; and that part 3, division 2, subdivision 2 applies in relation to the authority; and new part 3, division 2, subdivision 2 applies in relation to the authority as if— the matters mentioned in new section 53(f) applied in relation to the authority; and new section 55A required the surety for the authority to be given within 30 business days after the later of the following— the relevant anniversary day; or the day the period mentioned in subsection (3)(b) ends.