sec.95Changed holder review process not finished before the commencement

sec.95 Changed holder review process not finished before the commencement

This section applies if— before the commencement, the scheme manager had started, but not finished, the changed holder review process for an authority in relation to which a changed holder event happened or is proposed; and on the commencement, the estimated rehabilitation cost for the authority is equal to or more than the prescribed ERC amount. The changed holder review process for the authority continues as if the amendment Act had not been enacted. However, new section 41D applies in relation to the authority for the changed holder event as if a reference in the section to section 32 included a reference to former section 32. Despite subsection (2) and former section 36(d), a notice given under former section 36 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 changed holder review allocation decided for the authority under the changed holder review process is taken to be a changed holder review allocation for the authority under new section 32. The changed holder review allocation takes effect under new section 37. For applying new section 37, a reference in the section to section 36(1) is taken to be a reference to former section 36. s 95 ins 2024 No. 33 s 129 (sec.95-ssec.1) This section applies if— before the commencement, the scheme manager had started, but not finished, the changed holder review process for an authority in relation to which a changed holder event happened or is proposed; and on the commencement, the estimated rehabilitation cost for the authority is equal to or more than the prescribed ERC amount. (sec.95-ssec.2) The changed holder review process for the authority continues as if the amendment Act had not been enacted. (sec.95-ssec.3) However, new section 41D applies in relation to the authority for the changed holder event as if a reference in the section to section 32 included a reference to former section 32. (sec.95-ssec.4) Despite subsection (2) and former section 36(d), a notice given under former section 36 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.95-ssec.5) The changed holder review allocation decided for the authority under the changed holder review process is taken to be a changed holder review allocation for the authority under new section 32. (sec.95-ssec.6) The changed holder review allocation takes effect under new section 37. (sec.95-ssec.7) For applying new section 37, a reference in the section to section 36(1) is taken to be a reference to former section 36.

• (a) before the commencement, the scheme manager had started, but not finished, the changed holder review process for an authority in relation to which a changed holder event happened or is proposed; and