sec.33Application to scheme manager if proposed changed holder

sec.33 Application to scheme manager if proposed changed holder

This section applies if— an authority is allocated to a risk category; and the estimated rehabilitation cost for the authority is equal to or more than the prescribed ERC amount; and a changed holder event is proposed in relation to the authority. Also, this section applies if— the estimated rehabilitation cost for an authority is equal to or more than $100,000 but less than the prescribed ERC amount; and a changed holder event is proposed in relation to the authority; and had the proposed changed holder event happened, division 1A would apply in relation to the changed holder. A holder of the authority, or the changed holder with the consent of a holder of the authority, may apply to the scheme manager to make a changed holder allocation as if— the proposed changed holder event had happened; and for an authority to which subsection (2) applies—the scheme manager had given the changed holder an election notice for the authority. The scheme manager must make the changed holder allocation only if the application is accompanied by the assessment fee for the decision. s 33 amd 2020 No. 14 s 99 ; 2024 No. 33 s 103 (sec.33-ssec.1) This section applies if— an authority is allocated to a risk category; and the estimated rehabilitation cost for the authority is equal to or more than the prescribed ERC amount; and a changed holder event is proposed in relation to the authority. (sec.33-ssec.2) Also, this section applies if— the estimated rehabilitation cost for an authority is equal to or more than $100,000 but less than the prescribed ERC amount; and a changed holder event is proposed in relation to the authority; and had the proposed changed holder event happened, division 1A would apply in relation to the changed holder. (sec.33-ssec.3) A holder of the authority, or the changed holder with the consent of a holder of the authority, may apply to the scheme manager to make a changed holder allocation as if— the proposed changed holder event had happened; and for an authority to which subsection (2) applies—the scheme manager had given the changed holder an election notice for the authority. (sec.33-ssec.4) The scheme manager must make the changed holder allocation only if the application is accompanied by the assessment fee for the decision.

• (a) an authority is allocated to a risk category; and
• (b) the estimated rehabilitation cost for the authority is equal to or more than the prescribed ERC amount; and
• (c) a changed holder event is proposed in relation to the authority.
• (a) the estimated rehabilitation cost for an authority is equal to or more than $100,000 but less than the prescribed ERC amount; and
• (b) a changed holder event is proposed in relation to the authority; and
• (c) had the proposed changed holder event happened, division 1A would apply in relation to the changed holder.