A New Tax System (Goods and Services Tax) Act 1999
Note:
The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.
Division 79 - Compulsory third party schemes Subdivision 79-A - Modified application of Division 78 to certain compulsory third party scheme payments and supplies under insurance policies 79-20 Extension of various references in Division 78 to rights of subrogation to cover other rights of recoveryPayments or supplies in settlement of claims
(1)
For the purposes of sections 78-35 , 78-40 and 78-75 , a reference in those sections to a payment or supply made by an entity in settlement of a claim by an insurer in exercising the insurer ' s rights of subrogation in respect of an * insurance policy includes a reference to a payment or supply that satisfies the following requirements:
(a) the payment or supply is made by an entity in settlement of a claim by an * operator of a * compulsory third party scheme ;
(b) the claim was made by the operator in exercise of the operator ' s rights to recover in respect of a payment or supply made under the compulsory third party scheme;
(c) the claim was not made under an * insurance policy that is a policy of reinsurance.
Payments or supplies in compliance with court judgments etc. relating to claims
(2)
For the purposes of section 78-110 , a reference in that section to a payment or supply made by an entity in compliance with a judgment or order of a court relating to a claim made by an insurer in exercising the insurer ' s rights of subrogation in respect of an * insurance policy includes a reference to a payment or supply that satisfies the following requirements:
(a) the payment or supply is made by an entity in compliance with a judgment or order of a court relating to a claim made by an * operator of a * compulsory third party scheme ;
(b) the claim was made by the * operator in exercise of the operator ' s rights to recover a payment or supply made under the * compulsory third party scheme ;
(c) the claim was not made under an insurance policy that is a policy of reinsurance.
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