303Application of determinations under section 302

##### 303 Application of determinations under section 302 (1) Except so far as the contrary intention appears in a determination under section 302, a provision of such a determination applies in relation to: (a) the first financial year that ends after the commencement of the last-mentioned provision; and (b) each later financial year. (2) Despite anything in an instrument under section 302, but subject to subsection (4) of this section, a provision of a determination under that section does not apply in relation to a financial year ending before the commencement of that provision. (3) A carrier may elect in writing that a provision that, apart from subsection (4), does not apply in relation to the carrier in relation to a particular financial year is to apply in relation to the carrier in relation to that financial year. (4) An election under subsection (3) has effect accordingly. (5) In this section: > commencement, in relation to a provision of a determination under section 302, means: (a) in the case of such a provision as originally in effect—the time when the provision took effect; or (b) in the case of a provision as varied by another provision of an instrument under section 302—the time when the last-mentioned provision took effect.