Financial Accountability Regime (Consequential Amendments) Act 2023 (68 of 2023)

Schedule 2   Application, saving and transitional provisions

Part 3   Other sectors

Division 2   Deferred remuneration obligations

23   Deferral of remuneration under FAR

When this item applies

(1) This item applies in relation to a person who is an accountable person under section 10 of the FAR Act of:

(a) an accountable entity under subsection 9(3) of the FAR Act; or

(b) a significant related entity of such an accountable entity.

Deferred remuneration obligations apply when entity becomes an accountable entity

(2) Part 5 of Chapter 2 of the FAR Act applies in relation to the variable remuneration of the accountable person only if the day referred to in paragraph 28(2)(a) of the FAR Act in relation to the remuneration occurs after the FAR start time for the accountable entity referred to in paragraph (1)(a) or (b) of this item.